| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Good |
| Demographics | 46th | Good |
| Amenities | 39th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3525 San Clemente Ave, Modesto, CA, 95356, US |
| Region / Metro | Modesto |
| Year of Construction | 1985 |
| Units | 34 |
| Transaction Date | 2002-10-17 |
| Transaction Price | $235,000 |
| Buyer | ZURILGEN AL |
| Seller | KMJA LLC |
3525 San Clemente Ave Modesto Multifamily Investment
This 34-unit property in Modesto's inner suburb benefits from exceptional neighborhood-level occupancy stability at 100%, supporting consistent rental income according to WDSuite's CRE market data.
The property sits in a B+ rated neighborhood that ranks in the top quartile among 130 metro neighborhoods for occupancy performance, with 100% neighborhood-level occupancy rates. Built in 1985, the asset aligns with the area's average construction year of 1980, positioning it for targeted value-add opportunities without obsolescence concerns.
Demographics within a 3-mile radius show population growth of 2.7% over five years, with household income rising 34.7% to a median of $78,412. The rental share of 41.8% ranks in the 84th percentile nationally, indicating strong tenant demand. Projected growth through 2028 anticipates a 6.9% population increase and 35.6% household growth, supporting renter pool expansion.
Median home values of $477,698 represent a value-to-income ratio of 6.8, ranking in the 92nd percentile nationally. This pricing dynamic can keep households in the rental market longer, supporting tenant retention. Neighborhood rents of $1,686 rank 16th among metro areas, with moderate 5-year growth of 70.6%.
The area offers solid amenity access with 1.47 grocery stores per square mile (77th percentile nationally) and 4.40 restaurants per square mile (79th percentile). School ratings average 3.0 out of 5, ranking 7th among metro neighborhoods. Limited childcare and pharmacy density may impact tenant convenience but reflects the suburban character.
The neighborhood demonstrates improving safety trends with property crime rates declining 31.9% year-over-year and violent crime dropping 47.9%. Current property offense rates of 749 per 100,000 residents rank 82nd among 130 metro neighborhoods, while violent crime rates of 59 per 100,000 rank 53rd locally.
Overall crime performance places the area in the 57th percentile nationally among neighborhoods, indicating competitive safety levels relative to other markets. The significant year-over-year crime reductions suggest positive momentum that may enhance tenant appeal and retention over time.
The property benefits from proximity to major corporate offices throughout the Central Valley and Bay Area, providing employment stability for the regional workforce.
- Clorox — consumer goods manufacturing (17.4 miles)
- Ross Stores — retail corporate offices (47.2 miles) — HQ
- The Clorox Company — consumer products (48.1 miles)
- Chevron — energy corporate offices (51.2 miles) — HQ
- Boston Scientific — medical devices (51.8 miles)
This Modesto multifamily asset offers compelling fundamentals anchored by exceptional occupancy stability and demographic tailwinds. The neighborhood's 100% occupancy rate ranks first among 130 metro areas, while projected household growth of 35.6% through 2028 supports expanding rental demand. Built in 1985, the property presents value-add potential through targeted improvements while maintaining alignment with neighborhood construction norms.
Home affordability challenges, with values reaching 6.8 times income (92nd percentile nationally), create sustained rental demand as ownership remains out of reach for many households. Rising median incomes of 34.7% over five years indicate improving tenant quality, while the 41.8% rental share (84th percentile nationally) demonstrates established multifamily market acceptance according to CRE market data from WDSuite.
- Exceptional occupancy fundamentals with 100% neighborhood-level rates ranking first among metro areas
- Strong demographic growth projecting 35.6% household increase through 2028
- Value-add potential with 1985 construction year aligned to neighborhood averages
- High ownership costs support rental demand with home values at 6.8x income
- Risk consideration: Limited nearby amenity density may impact tenant convenience and retention