| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 32nd | Fair |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1600 Standiford Ave, Modesto, CA, 95350, US |
| Region / Metro | Modesto |
| Year of Construction | 1989 |
| Units | 100 |
| Transaction Date | 2020-02-19 |
| Transaction Price | $16,500,000 |
| Buyer | Tesseract Capital Group |
| Seller | Leahigh L.P. |
1600 Standiford Ave Modesto Multifamily Investment
The neighborhood maintains 96.5% occupancy with strong renter concentration at 43.5% of housing units, according to CRE market data from WDSuite. Elevated home values support sustained rental demand in this inner suburb market.
This 100-unit property, constructed in 1989, sits within an established inner suburb neighborhood that ranks 15th among 130 metro neighborhoods for overall desirability. The neighborhood maintains above-average occupancy at 96.5%, ranking in the 80th percentile nationally and demonstrating solid tenant retention dynamics. With 43.5% of housing units renter-occupied, the area shows strong multifamily demand fundamentals that support consistent lease-up activity.
Demographics within a 3-mile radius indicate a stable tenant base, with 83,055 residents and household incomes averaging $77,968. Population growth projections show an 8.1% increase expected through 2028, translating to approximately 6,700 additional residents and expanded renter pool depth. The construction year of 1989 aligns closely with the neighborhood average of 1977, indicating established building stock with potential value-add opportunities as properties reach typical renovation cycles.
Home values averaging $427,790 create affordability barriers that reinforce rental demand, with a value-to-income ratio ranking in the 85th percentile nationally. Contract rents at $1,506 median reflect the neighborhood's position in the upper quartile among metro areas, while rent-to-income ratios suggest manageable affordability for target demographics. The area benefits from strong amenity access, ranking 8th among metro neighborhoods, with notable concentrations of cafes, childcare, parks, and restaurants that enhance tenant appeal and retention potential.
The neighborhood demonstrates moderate safety metrics, ranking 15th among 130 metro neighborhoods and achieving the 52nd percentile nationally for overall crime levels. Property offense rates have declined 4.7% year-over-year, indicating improving trends that support tenant retention and leasing stability.
Violent crime rates show particularly strong improvement, with a 56.8% reduction over the past year placing the neighborhood in the 88th percentile nationally for crime reduction trends. This improvement trajectory suggests strengthening fundamentals that can enhance long-term tenant appeal and support stable occupancy rates.
The employment base includes corporate offices that provide workforce housing demand, though major employers require commutes to surrounding areas.
- Clorox — consumer products corporate offices (17.9 miles)
This 100-unit property benefits from strong neighborhood-level occupancy at 96.5% and substantial renter concentration of 43.5%, indicating solid multifamily demand fundamentals. The 1989 construction year positions the asset for potential value-add opportunities as it approaches typical renovation cycles, while demographic projections show 8.1% population growth through 2028 supporting expanded tenant base depth.
Elevated home values averaging $427,790 create ownership barriers that sustain rental demand, with the neighborhood ranking in the top quartile among 130 metro areas for rent levels. According to multifamily property research from WDSuite, the combination of stable occupancy trends and improving safety metrics provides a foundation for consistent performance in this established inner suburb market.
- High neighborhood occupancy at 96.5% demonstrates strong tenant retention and leasing stability
- Significant renter concentration at 43.5% of housing units indicates depth of multifamily demand
- Population growth projections of 8.1% through 2028 support expanding tenant base
- 1989 vintage offers value-add potential as property approaches renovation cycle timing
- Risk consideration: Limited major employer concentration requires tenant commutes to regional employment centers