| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Poor |
| Demographics | 20th | Poor |
| Amenities | 46th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1334 Leonard Ave, Modesto, CA, 95350, US |
| Region / Metro | Modesto |
| Year of Construction | 1977 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1334 Leonard Ave Modesto Multifamily Investment
This 20-unit property benefits from strong neighborhood-level occupancy at 94.9% and a rental-heavy market with 54.4% of housing units renter-occupied, according to CRE market data from WDSuite.
Located in an inner suburb neighborhood that ranks in the top quartile among 130 Modesto metro neighborhoods for rental share, this area demonstrates sustained demand for multifamily housing. With 54.4% of housing units renter-occupied, the neighborhood significantly exceeds typical suburban rental penetration, supporting consistent tenant demand.
The property's 1977 construction year aligns with the neighborhood average of 1967, indicating established building stock that may present value-add renovation opportunities for investors seeking to modernize units and capture rent premiums. Neighborhood-level occupancy remains stable at 94.9%, reflecting solid fundamentals despite modest rent growth of 47.8% over the past five years.
Demographics within a 3-mile radius show a mature renter base with household incomes averaging $66,369 and moderate population growth of 2.1% over five years. The area benefits from strong grocery access with 4.51 stores per square mile, ranking in the 95th percentile nationally, though amenity density remains limited in other categories. Median home values of $342,260 with 53.2% appreciation over five years help sustain rental demand by limiting ownership accessibility for many households.
Forward-looking demographic projections indicate household income growth to $103,445 by 2028, representing a 55.9% increase that could support rent growth potential, while the forecast maintains a balanced 40.6% renter share in the broader area.
The neighborhood's safety profile reflects mixed conditions typical of inner suburban areas. Property crime rates rank 123rd among 130 metro neighborhoods with an estimated rate of 2,994 incidents per 100,000 residents, placing the area in the lower quartile locally and 6th percentile nationally. However, violent crime shows improvement with a 28.9% decrease over the past year, ranking in the 74th percentile nationally for positive trend direction.
Investors should factor these safety metrics into tenant retention strategies and property management approaches, particularly given the competitive rental market dynamics in the broader Modesto area.
The broader Modesto employment base provides limited major corporate anchors, with most significant employers located outside the immediate submarket area.
- Clorox — corporate offices (19.7 miles)
This 20-unit property offers exposure to a rental-concentrated neighborhood with 94.9% occupancy and established multifamily demand dynamics. The 1977 construction vintage presents value-add renovation opportunities to modernize units and capture rent premiums in a market where median rents have grown 47.8% over five years. Demographics within a 3-mile radius support long-term fundamentals, with projected household income growth to $103,445 by 2028 and sustained renter demand reinforced by elevated home values.
According to multifamily property research from WDSuite, the neighborhood's top-quartile rental share and stable occupancy trends indicate consistent tenant demand, though investors should account for limited amenity density and safety considerations in their underwriting and management strategies.
- Strong neighborhood occupancy at 94.9% with 54.4% rental penetration
- Value-add potential from 1977 vintage in established rental market
- Projected 55.9% household income growth supporting rent growth potential
- Risk factors include higher property crime rates and limited employer diversity