| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Poor |
| Demographics | 26th | Fair |
| Amenities | 39th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1101 Park St, Turlock, CA, 95380, US |
| Region / Metro | Turlock |
| Year of Construction | 1987 |
| Units | 36 |
| Transaction Date | 2013-05-21 |
| Transaction Price | $1,800,000 |
| Buyer | TURLOCK VENTURE GROUP LLC |
| Seller | SPYCHER AND SPYCHER PROP LLC |
1101 Park St Turlock Multifamily Investment
This 36-unit property built in 1987 offers value-add potential in a neighborhood with 91% occupancy and median rents of $1,034. CRE market data from WDSuite shows the area ranks in the top quartile for crime safety among 130 metro neighborhoods.
This inner suburb neighborhood demonstrates solid fundamentals for multifamily investment, ranking 76th among 130 neighborhoods in the Modesto metro with a B- overall rating. The area maintains a 91% occupancy rate with median contract rents of $1,034, positioning it competitively within the regional market. With 38.4% of housing units renter-occupied, the neighborhood provides a substantial tenant base for multifamily properties.
Demographics within a 3-mile radius show a population of approximately 69,700 residents with modest growth of 2.2% over the past five years. The area's median household income of $76,951 has grown 42% over five years, indicating improving economic conditions that support rental demand. Forecasted data suggests continued household formation, with projected growth to over 32,800 households by 2028, representing a 37% increase that could expand the renter pool.
The property's 1987 construction year aligns closely with the neighborhood average of 1972, suggesting consistent building stock that may present renovation and value-add opportunities for investors focused on capital improvements. Local amenities include 1.76 grocery stores per square mile, ranking in the 81st percentile nationally, while restaurant density of 2.64 per square mile provides tenant convenience. The area's rent-to-income ratio of 0.17 indicates relatively affordable housing costs that support tenant retention.
The neighborhood demonstrates strong safety metrics that support tenant appeal and retention. With a crime rank of 5th among 130 metro neighborhoods and a 59th percentile nationally, the area performs well above regional averages for overall safety conditions.
Property crime rates show an estimated 84.7 incidents per 100,000 residents, ranking 30th in the metro and placing in the 69th percentile nationally. Violent crime remains notably low at 7.6 incidents per 100,000 residents, ranking 9th locally and 74th percentile nationally. Recent trends show violent crime declining 33.4% year-over-year, though property crime has increased 60.8%, requiring ongoing monitoring for investment planning purposes.
The regional employment base includes corporate offices that provide workforce housing demand, though major employers are located at considerable distances from the immediate neighborhood.
- Clorox — corporate offices (33.3 miles)
This 36-unit property presents a value-add opportunity in a neighborhood with stable occupancy fundamentals and improving income demographics. The 1987 construction vintage offers potential for strategic renovations and unit upgrades to capture rent growth in a market where median household incomes have increased 42% over five years. According to commercial real estate analysis from WDSuite, the area's 91% occupancy rate and strong safety metrics create a foundation for consistent rental demand.
Demographic projections show household growth accelerating to 37% by 2028, expanding the potential tenant base while median rents remain affordable at $1,034. The neighborhood's 38.4% renter-occupied housing share, ranking in the 78th percentile nationally, indicates a mature rental market that supports multifamily investment strategies focused on operational improvements and tenant retention.
- 91% neighborhood occupancy rate provides stable rental demand foundation
- 1987 construction year offers value-add renovation opportunities
- 42% household income growth over five years supports rent increases
- Strong safety metrics with top quartile crime ranking enhance tenant appeal
- Risk: Limited nearby major employers may affect long-term tenant retention