| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Fair |
| Demographics | 29th | Fair |
| Amenities | 27th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2631 Sierra St, Riverbank, CA, 95367, US |
| Region / Metro | Riverbank |
| Year of Construction | 1976 |
| Units | 32 |
| Transaction Date | 2001-05-30 |
| Transaction Price | $1,218,500 |
| Buyer | ZD PROPERTIES 32 LLC |
| Seller | ALPINE TOWNHOUSE APARTMENTS LLC |
2631 Sierra St Riverbank Multifamily with Stable Demand
Neighborhood occupancy is strong and ownership costs are elevated, supporting durable renter demand according to WDSuite’s CRE market data.
Riverbank’s inner-suburban setting offers pragmatic fundamentals for workforce housing. Neighborhood occupancy is high (top decile nationally), indicating limited turnover and steady leasing conditions, based on WDSuite’s CRE market data. Renter concentration is moderate, with roughly half of housing units renter-occupied at the neighborhood level, which helps sustain a meaningful tenant base without overreliance on transient demand.
Livability is anchored by everyday conveniences more than lifestyle amenities. Grocery access ranks 46th out of 130 Modesto metro neighborhoods (competitive among Modesto neighborhoods), and restaurants rank 44th of 130, while cafes, parks, childcare, and pharmacies rank near the bottom of the metro. For investors, this skews the location toward practical, price-sensitive renters and favors properties that compete on value, management quality, and unit functionality rather than boutique amenity packages.
Within a 3-mile radius, the population has grown modestly in recent years with forecasts pointing to further population growth and a sizable increase in households over the next five years, expanding the local renter pool. Median household incomes are solid for the region, and rent-to-income at the neighborhood level sits in a favorable range, supporting retention and measured pricing power. Elevated home values (upper percentiles nationally) and a high value-to-income ratio suggest a high-cost ownership market, which typically reinforces reliance on multifamily housing and supports occupancy stability.
Property vintage in the neighborhood trends older on average, while this asset’s 1976 construction is newer than the local average. That positioning can be competitive against 1960s-era stock, though investors should evaluate building systems and common areas for targeted modernization. These fundamentals, combined with above-metro occupancy performance and everyday retail proximity, present a straightforward case for durable cash flow. For additional context during multifamily property research, neighborhood ratings sit around the metro median.
Safety compares less favorably to broader benchmarks. The neighborhood’s crime rank is 112 out of 130 within the Modesto metro, placing it below metro averages, and its national safety standing is in a lower percentile compared with neighborhoods nationwide. Investors should underwrite accordingly with emphasis on lighting, access control, and active management to support tenant retention.
Recent year-over-year trends indicate an uptick in both property and violent offense rates at the neighborhood level. While conditions can vary block to block, comparative metrics point to heightened vigilance in operations and partnership with local providers for security-conscious practices. Framing this alongside strong occupancy fundamentals can help balance risk and retention planning.
The area draws on a diversified Central Valley employment base, with regional corporate offices supporting commute-driven renter demand. Notable nearby employer includes Clorox.
- Clorox — corporate offices (19.7 miles)
This 32-unit asset built in 1976 sits in a neighborhood with above-metro occupancy performance and a renter base supported by a high-cost ownership market. Within a 3-mile radius, projections indicate population growth and a notable increase in households, pointing to a larger tenant base that can support steady leasing. Newer-than-average vintage versus local 1960s stock offers competitive positioning, with selective modernization likely to enhance rentability without requiring a full repositioning. According to commercial real estate analysis from WDSuite, neighborhood rent-to-income looks favorable for retention and measured rent steps.
Key considerations for underwriting include comparatively weaker safety metrics at the neighborhood level and limited lifestyle amenities beyond day-to-day retail. These factors argue for hands-on property management, curb-appeal upgrades, and pragmatic unit finishes that resonate with value-focused renters while preserving operating efficiency.
- Strong neighborhood occupancy supports stability and lease retention
- Household and population growth within 3 miles expand the renter pool
- High ownership costs bolster multifamily demand and measured pricing power
- 1976 vintage is newer than local averages, with targeted value-add potential
- Risk: below-metro safety metrics and fewer lifestyle amenities require active management