| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 36th | Good |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3000 Coffee Rd, Modesto, CA, 95355, US |
| Region / Metro | Modesto |
| Year of Construction | 1973 |
| Units | 36 |
| Transaction Date | 2019-11-15 |
| Transaction Price | $4,550,000 |
| Buyer | BEO Investment Inc. |
| Seller | PI Properties No. 47, LLC |
3000 Coffee Rd Modesto Multifamily Investment
Inner-suburban Modesto location with strong renter concentration and high neighborhood occupancy supports income durability, according to WDSuite s CRE market data.
Located in Modesto s inner suburbs, the neighborhood is competitive among Modesto neighborhoods (26 out of 130) and shows durable renter demand. Neighborhood occupancy is strong and in the top quartile nationally, with rank performance competitive within the metro. Daily-needs access is a strength: grocery, pharmacy, and parks density all track in high national percentiles, while restaurants are abundant; cafes and childcare options are thinner, which may modestly affect lifestyle convenience for some tenants.
Renter concentration is elevated (measured as the share of housing units that are renter-occupied), placing the area in a high national percentile. For investors, this indicates a deeper tenant base and supports leasing stability for multifamily assets. Neighborhood rents benchmark above national norms, suggesting room for quality- and location-driven pricing, though lease management should remain attentive to affordability to sustain retention.
Within a 3-mile radius, population has grown and is projected to continue increasing, with households also expected to expand over the next five years. Rising median incomes alongside forecast rent growth point to a larger tenant base with improving spending power, which can support occupancy stability. If households increase while average household size trends lower, product that matches evolving unit mix preferences (e.g., smaller formats) may see steady demand.
Home values in the neighborhood sit above national norms, creating a relatively high-cost ownership market that tends to reinforce reliance on rental housing and support lease retention for well-operated properties. Average school ratings in the neighborhood are lower versus national benchmarks, which can be a leasing consideration for family renters; positioning on affordability and property-level amenities can help mitigate this dynamic.
Vintage context: the property s 1973 construction is older than the neighborhood s average vintage (late-1970s). For investors, that implies capital planning for systems, interiors, and common areas, but also potential value-add and repositioning upside relative to older nearby stock.
Neighborhood safety indicators are mixed. Compared with neighborhoods nationwide, overall safety levels are below the national median, and within the Modesto metro the area s crime rank indicates more incidents than many peer neighborhoods (ranked 43 out of 130). That said, recent trend data show improvement in violent offenses over the last year, placing that decline in a favorable national percentile. Property crime remains a watchpoint but has moderated modestly year over year.
For investors, prudent measures include underwriting for security features and active property management. Positioning that emphasizes lighting, access control, and community standards can support resident retention and operational stability relative to the broader region.
The employment base is diversified at the regional level, with commute-accessible corporate roles that can support renter demand and leasing stability for workforce-oriented units. Notable nearby employer:
- Clorox Corporate offices (20.2 miles)
This 36-unit Modesto asset benefits from a renter-heavy neighborhood with high occupancy performance relative to both the metro and national benchmarks, supporting income stability. Neighborhood rents trend above national norms while the local ownership market is comparatively high-cost, which typically sustains reliance on multifamily housing and can aid retention. According to CRE market data from WDSuite, daily-needs amenities are strong (grocery, pharmacy, and parks), with robust restaurant density that enhances livability for tenants.
Built in 1973, the property is older than the neighborhood s late-1970s average, pointing to targeted capital needs but also clear value-add potential through unit and systems upgrades. Demographics within a 3-mile radius indicate population growth and projected household expansion, which supports a larger tenant base over the medium term. Balanced underwriting should consider softer school ratings and area safety metrics, offset by improving violent-offense trends and strong amenity access.
- High neighborhood occupancy and elevated renter concentration support demand depth
- Rents above national norms with high-cost ownership landscape reinforce retention
- 1973 vintage offers value-add and repositioning upside with planned capex
- Strong daily-needs amenity access (grocery, pharmacy, parks) and dining density
- Risks: below-median school ratings and safety metrics; budget for security and retention initiatives