| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Good |
| Demographics | 40th | Good |
| Amenities | 55th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1500 Santa Paula Dr, Modesto, CA, 95355, US |
| Region / Metro | Modesto |
| Year of Construction | 1987 |
| Units | 30 |
| Transaction Date | 2000-06-07 |
| Transaction Price | $1,255,000 |
| Buyer | A & P CAL PROPERTIES |
| Seller | ALL IN PROPERTIES LLC |
1500 Santa Paula Dr Modesto Multifamily Investment
Inner-suburb location with steady renter demand and occupancy above national medians, according to CRE market data from WDSuite. Newer 1987 vintage relative to local stock suggests competitive positioning with potential to modernize for rent uplift.
Located in Modesto’s inner suburbs, the neighborhood rates A- and ranks 32 out of 130 within the metro, signaling a position above the metro median for overall fundamentals. According to WDSuite’s CRE market data, neighborhood occupancy is above national medians and has trended upward in recent years, supporting stability for a 30-unit asset.
Livability drivers are balanced: grocery, parks, and pharmacies sit in the top quartile nationally, while restaurants are also strong by national comparatives. However, specialty amenities like cafes and childcare are thinner nearby, which may modestly limit lifestyle convenience compared with denser urban nodes.
Tenure patterns indicate depth in renter-occupied housing units, with the neighborhood’s renter concentration ranking in the upper tier nationally, a constructive signal for multifamily demand and leasing velocity. Average schools register below national norms, which can influence the family-renter mix and should be considered in marketing and retention strategies.
Home values are elevated versus national benchmarks, and the value-to-income ratio sits near the higher end nationally, pointing to a high-cost ownership market that can reinforce reliance on rental housing and support pricing power. At the same time, rent-to-income levels in the area are comparatively manageable, which can aid retention and reduce affordability pressure in lease management.
Demographic statistics aggregated within a 3-mile radius show population growth over the last five years, with further gains projected. Households are also expected to increase through the forecast period, expanding the potential tenant base and supporting occupancy stability relative to the broader Modesto metro.
Vintage context: the subject’s 1987 construction is newer than the neighborhood average (1977, measured against 130 Modesto neighborhoods). This positioning typically improves competitive standing versus older stock, while still leaving room for targeted system updates and cosmetic upgrades to capture value-add upside.
Safety indicators are mixed when viewed against national comparisons. Overall crime levels benchmark below national percentiles, but recent data show a meaningful decline in violent offenses year over year, according to WDSuite’s CRE market data. Within the Modesto metro, the neighborhood’s crime profile sits around the metro median (rank 67 out of 130), suggesting conditions comparable to many peer neighborhoods rather than an outlier in either direction.
For underwriting, the trend improvement in violent incidents is a constructive sign, while property crime remains an area to monitor through security, lighting, and resident engagement practices typical for workforce-oriented assets.
Regional employers accessible by car contribute to a diversified workforce draw, supporting renter demand and lease retention for residents commuting to consumer goods and related corporate offices listed below.
- Clorox — consumer goods (21.6 miles)
This 30-unit property combines durable demand drivers with identifiable operational levers. Neighborhood occupancy trends are above national medians and have improved over the past five years, while a high-cost ownership landscape sustains reliance on rentals and supports pricing power. The 1987 vintage is newer than nearby stock, positioning the asset competitively versus older comparables and leaving room for targeted modernization to enhance rents and retention. According to multifamily property research from WDSuite, rent-to-income levels are comparatively manageable locally, which supports lease stability.
Forward-looking demographics within a 3-mile radius point to continued population and household growth, expanding the tenant base and underpinning occupancy. Key risks to underwrite include below-average school ratings, mixed safety indicators driven by property crime, and lighter cafe/childcare amenity density relative to national peers.
- Occupancy above national medians with upward trend, supporting income stability
- High-cost ownership market reinforces rental demand and pricing power
- 1987 vintage newer than area average, with value-add modernization potential
- 3-mile demographics indicate population and household growth, enlarging renter pool
- Risks: below-average school ratings, property crime monitoring, and thinner specialty amenities