| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Good |
| Demographics | 40th | Good |
| Amenities | 55th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1860 Scenic Dr, Modesto, CA, 95355, US |
| Region / Metro | Modesto |
| Year of Construction | 1974 |
| Units | 35 |
| Transaction Date | 2004-12-20 |
| Transaction Price | $670,000 |
| Buyer | BEHEERMAATSCHAPPIJ GELDRIA B V |
| Seller | ZIM B V |
1860 Scenic Dr Modesto Multifamily Investment
Neighborhood occupancy and renter concentration point to steady tenant demand, according to WDSuite s CRE market data, with positioning suited for workforce renters in Modesto s inner suburbs.
Situated in Modesto s Inner Suburb, the area around 1860 Scenic Dr rates A- and ranks 32nd out of 130 metro neighborhoods competitive among Modesto neighborhoods and near the top quartile. Grocery, park, and pharmacy access score well versus national benchmarks, while cafes and childcare are comparatively thin. For investors, this mix supports daily convenience but suggests limited premium amenity-driven rent lift.
Neighborhood occupancy averages remain above national norms and have trended higher over the past five years, supporting stability for lease-up and renewals based on CRE market data from WDSuite. The share of units that are renter-occupied in the neighborhood is 47.7%, placing it in the top quartile among 130 metro neighborhoods a positive signal for depth of the tenant base and demand resilience.
Within a 3-mile radius, population and household counts have grown, with forecasts indicating further population growth and a larger tenant base over the next five years. Income distribution skews toward middle and upper-middle brackets, which can support Class B rent levels. Median contract rents in the neighborhood sit above many comparable areas in the region, yet the rent-to-income ratio around 0.26 implies manageable affordability pressure that can aid retention and reduce turnover risk.
Neighborhood ownership costs are elevated relative to incomes (high national value-to-income percentile), signaling a high-cost ownership market that tends to sustain multifamily demand and pricing power. Average school ratings, however, are below national norms, which could temper family-driven demand; investors should underwrite accordingly.
The property s 1974 vintage is slightly older than the neighborhood s average construction year (1977). That age positioning often requires ongoing capital planning for systems and common areas, while also presenting value-add and modernization opportunities to compete effectively against newer stock.
Safety indicators for the neighborhood are mixed. Overall crime performance sits below the national average (lower national percentile), which warrants prudent security and operating practices. That said, recent trends show violent offenses improving year over year, placing the area in a stronger improvement percentile compared with neighborhoods nationwide a constructive directional signal to monitor.
Investors should consider property-level measures (lighting, access controls) and emphasize screening and resident engagement while tracking neighborhood trendlines over time. Use regional comps in Modesto for context rather than block-by-block assumptions.
- Clorox consumer products (21.9 miles)
Proximity to regional employers like Clorox supports commuter access and can contribute to leasing stability for workforce-oriented renters.
1860 Scenic Dr benefits from an Inner Suburb location with solid daily amenities and a renter-occupied housing share in the top quartile among 130 Modesto neighborhoods, indicating depth of demand. Neighborhood occupancy rates sit above national averages and have improved in recent years, reinforcing the case for steady lease-up and renewals. Elevated home values relative to incomes suggest a high-cost ownership market that tends to sustain rental demand, while a rent-to-income profile near the mid-20s supports retention and manageable turnover, according to CRE market data from WDSuite.
Built in 1974, the asset may require targeted capital expenditures to remain competitive, but that also creates value-add potential. Demographic trends within a 3-mile radius indicate population growth and an expanding household base, which supports a larger tenant pool and demand stability over the medium term. Key underwriting considerations include below-average school ratings and safety indicators that are weaker than national benchmarks, balanced by improving violent-offense trends and strong access to groceries, parks, and pharmacies.
- Renter-occupied share in the neighborhood sits in the metro s top quartile, signaling a deep tenant base.
- Occupancy above national norms with recent improvement supports stability in lease-up and renewals.
- High-cost ownership market reinforces reliance on rentals and pricing power potential.
- 1974 vintage offers value-add and modernization upside with focused capex planning.
- Risks: below-average school ratings and safety performance vs. national benchmarks require prudent operations and underwriting.