| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 50th | Best |
| Amenities | 26th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3925 Scenic Dr, Modesto, CA, 95355, US |
| Region / Metro | Modesto |
| Year of Construction | 1991 |
| Units | 36 |
| Transaction Date | 2003-12-22 |
| Transaction Price | $16,300,000 |
| Buyer | CROWN RIDGE APARTMENTS LLC |
| Seller | ARTHUR GERALD D |
3925 Scenic Dr, Modesto CA Multifamily Investment
Stabilized neighborhood fundamentals and Inner Suburb positioning point to durable renter demand, with occupancy levels competitive among Modesto neighborhoods according to WDSuite’s CRE market data. The location favors steady leasing while pricing should track neighborhood affordability rather than stretch growth.
This Inner Suburb pocket of Modesto offers a practical mix of livability and investment stability. Neighborhood occupancy is strong and competitive among the 130 Modesto neighborhoods, indicating resilient leasing and limited downtime for well-managed assets. Median asking rents sit in the upper half of local ranges, supporting revenue without overextending affordability.
Daily needs are well-supported by park access (top quartile nationally) and a grocery presence around the metro median, while dining, cafes, and pharmacies are thinner locally. For investors, that translates to convenience for essentials but fewer lifestyle draws—typical of workforce-oriented submarkets where value and quiet residential streets drive retention more than nightlife.
Construction trends skew slightly older in the area, and this asset’s 1991 vintage is newer than the neighborhood average (1985). That positioning can be competitive against older stock, though investors should still underwrite selective modernization of systems and finishes to defend occupancy and support rent trade-outs over time.
Within a 3-mile radius, demographics show modest population growth historically with expectations for continued household expansion, which broadens the local tenant base and supports occupancy stability. The neighborhood’s renter-occupied share is meaningful at the 3-mile view, indicating adequate depth for multifamily leasing, while elevated home values relative to incomes in this metro context tend to reinforce reliance on rental housing—supportive of lease retention and steady absorption.
School ratings in the area trend below national averages, which can shape unit mix performance for family-oriented floor plans. Investors typically find that smaller formats and value-driven product see steady interest here, aligning with neighborhood income brackets and rent-to-income levels that favor pragmatic housing choices.
Safety dynamics are mixed when viewed against metro and national benchmarks. Relative to the 130 neighborhoods in the Modesto metro, this area trends below the metro median for safety, while nationally it aligns near the midpoint. Recent trends are noteworthy: violent-offense rates show a material year-over-year improvement toward safer conditions, even as property-offense levels have ticked up. For investors, underwriting should assume standard security measures and lighting, with ongoing monitoring of submarket trends and coordination with property management to support resident comfort and retention.
Regional employment is diversified, and proximity to established corporate offices supports commuter demand and leasing stability at workforce price points. Notable nearby employer:
- Clorox — corporate offices (23.5 miles)
The 36-unit, 1991-vintage asset at 3925 Scenic Dr is positioned for durable performance driven by high neighborhood occupancy, a growing 3-mile renter pool, and homeownership costs that keep multifamily competitive. Newer-than-area-average vintage supports relative competitiveness versus older stock, while targeted upgrades can enhance yield and sustain rent trade-outs.
Based on commercial real estate analysis from WDSuite, neighborhood occupancy trends remain above metro medians, and rent levels align with local incomes—conditions that favor steady collections and retention when paired with disciplined lease management. Forward-looking household growth within 3 miles suggests a larger tenant base over time, supporting stabilized operations rather than outsized volatility.
- Strong neighborhood occupancy supports leasing stability and reduced downtime.
- 1991 vintage offers relative competitiveness vs. older local stock with value-add potential through selective upgrades.
- 3-mile demographics point to expanding households and a broader renter base, supporting steady demand.
- Elevated ownership costs in context reinforce renter reliance, aiding lease retention and pricing discipline.
- Risks: thinner lifestyle amenities and metro-relative safety considerations warrant prudent security and asset management.