| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Good |
| Demographics | 42nd | Good |
| Amenities | 28th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 160 Mark Randy Pl, Modesto, CA, 95350, US |
| Region / Metro | Modesto |
| Year of Construction | 1977 |
| Units | 34 |
| Transaction Date | 2019-02-06 |
| Transaction Price | $10,250,000 |
| Buyer | CAMERON VILLA 2018 LP |
| Seller | PL PROPERTIES NO 127 LLC |
160 Mark Randy Pl Modesto 34-Unit Multifamily
Neighborhood occupancy trends are strong and relatively steady, supporting a durable renter base according to CRE market data from WDSuite. With a meaningful share of units renter-occupied in the area, the asset should benefit from consistent leasing demand.
This Inner Suburb location in Modesto offers everyday conveniences with a concentration of restaurants that is competitive among Modesto neighborhoods (34th of 130) and grocery access that ranks above the national median. While cafes, parks, and pharmacies are limited nearby, essentials are reachable and support day-to-day livability for residents.
School options in the area average around 3 out of 5, landing above the national median; this can help retain family renters seeking stability without commanding top-tier school premiums. Median contract rents in the neighborhood sit above national norms and have trended upward in recent years, indicating resilient renter demand rather than rapid, speculative growth.
Unit tenure data show roughly two-fifths of housing units are renter-occupied, pointing to a sizable tenant base and steady turnover that supports multifamily demand. For investors, that renter concentration suggests ongoing leasing depth for well-positioned properties.
Within a 3-mile radius, population growth over the past five years and projected gains through 2028 point to a larger tenant base over time. Household incomes have been rising, and rents are expected to continue moving up, which supports occupancy stability and measured pricing power for competitive product.
Home values in the neighborhood sit above national medians, and the value-to-income profile is elevated versus much of the country. In practice, this high-cost ownership market reinforces reliance on rental housing, which can aid retention and reduce move-outs to homeownership for renters comparing total housing costs.
Relative to the Modesto metro, this neighborhood sits on the higher-crime side (lower-third, 36th of 130), with property offenses elevated versus national norms. At the same time, violent incidents have improved materially year over year, landing in a stronger national percentile trend. Investors should underwrite prudent security measures and asset management practices, while recognizing that the recent improvement trajectory may help sentiment if sustained.
Regional employment includes household products and consumer goods, providing diversified demand drivers and reasonable commute access for renters.
- Clorox — household products (19.7 miles)
This 34-unit asset offers scale with notably large average floor plans, positioning it to capture family renters and drive retention through livability. Based on CRE market data from WDSuite, neighborhood occupancy is solid and renter demand is supported by a meaningful renter-occupied share, rising incomes within a 3-mile radius, and ownership costs that remain high relative to national benchmarks.
Forward-looking demographics within 3 miles point to a larger renter pool and continued rent growth potential, while dining and grocery access are adequate for day-to-day living. Execution should focus on optimizing unit finishes and resident experience to differentiate against older stock, with measured underwriting for safety and amenity-light surroundings.
- Solid neighborhood occupancy and sustained renter demand support leasing stability.
- Large average unit sizes enhance appeal to family renters and retention.
- Elevated ownership costs locally reinforce reliance on rental housing and pricing power.
- Risks: higher local crime and limited nearby amenities warrant active management and conservative underwriting.