| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Fair |
| Demographics | 25th | Fair |
| Amenities | 92nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1180 Pioneer Ave, Turlock, CA, 95380, US |
| Region / Metro | Turlock |
| Year of Construction | 1972 |
| Units | 63 |
| Transaction Date | 2018-08-09 |
| Transaction Price | $6,725,000 |
| Buyer | --- |
| Seller | Realtrak LLC |
1180 Pioneer Ave Turlock Multifamily Investment
This 63-unit property benefits from strong neighborhood occupancy at 95.6% and exceptional amenity access in Turlock's urban core. According to CRE market data from WDSuite, the neighborhood ranks in the top quartile nationally for rental unit concentration.
Located in Turlock's urban core, this neighborhood demonstrates strong fundamentals for multifamily investors. The area maintains 95.6% occupancy with 71.3% of housing units occupied by renters, ranking 3rd among 130 metro neighborhoods and placing in the 97th percentile nationally for rental concentration. This high renter share creates a deep tenant pool and supports consistent lease-up velocity.
The property's 1972 construction year aligns with the neighborhood average, indicating potential value-add opportunities through strategic renovations and unit upgrades. Within a 3-mile radius, demographic data shows a population of over 72,000 with projected 5.5% growth through 2028, supporting expanding renter demand. Median household income of $80,019 provides adequate rent-to-income ratios for tenant retention.
Amenity density ranks exceptionally strong, placing 2nd among metro neighborhoods and in the 92nd percentile nationally. The area features 5.61 grocery stores per square mile (97th percentile nationally) and robust restaurant density at 15.72 per square mile (95th percentile nationally). This convenience factor enhances tenant satisfaction and supports renewal rates in a competitive rental market.
Median contract rent of $1,246 reflects 31% growth over five years, with neighborhood-level rents at $1,206 showing 47% appreciation. Home values averaging $378,017 with 90% growth over five years create elevated ownership costs that reinforce rental demand and support multifamily positioning in the local housing market.
Safety metrics show mixed trends requiring careful monitoring. Property crime rates rank 10th among 130 metro neighborhoods, placing in the 80th percentile nationally, indicating relatively lower property crime compared to most neighborhoods nationwide. However, recent property crime increased 47% year-over-year, suggesting evolving conditions.
Violent crime rates rank 24th in the metro area with a 51st percentile nationally, representing moderate levels compared to national averages. The 92% year-over-year increase in violent crime warrants attention for tenant retention and leasing considerations. Investors should factor these trends into security planning and tenant communication strategies.
The employment base includes corporate presence within commuting distance, supporting workforce housing demand in the Turlock market.
- Clorox — consumer products corporate offices (33.9 miles)
This 63-unit property leverages Turlock's strong rental fundamentals, with neighborhood occupancy at 95.6% and 71% renter concentration ranking in the top quartile nationally. The 1972 vintage presents value-add potential through unit renovations and common area improvements. Population growth of 5.5% projected through 2028 within a 3-mile radius supports expanding tenant demand, while elevated home values sustain rental market positioning.
Multifamily property research indicates exceptional amenity access with grocery and restaurant density in the 95th percentile nationally, enhancing tenant retention potential. Five-year rent appreciation of 47% demonstrates pricing power, though recent crime increases require ongoing security assessment and tenant communication protocols.
- Strong occupancy stability at 95.6% with high renter concentration
- Value-add potential through 1972 vintage renovation opportunities
- Population growth of 5.5% supporting tenant demand expansion
- Exceptional amenity density enhancing tenant retention
- Risk factor: Recent crime increases requiring security planning