| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Poor |
| Demographics | 51st | Best |
| Amenities | 85th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1500 East Ave, Turlock, CA, 95380, US |
| Region / Metro | Turlock |
| Year of Construction | 1987 |
| Units | 89 |
| Transaction Date | 2015-12-17 |
| Transaction Price | $6,750,000 |
| Buyer | Positive Investments, Inc. |
| Seller | Doo Family 1989 Trust |
1500 East Ave, Turlock CA Multifamily Investment
Neighborhood occupancy has held near the top of the Modesto metro, pointing to steady renter demand and lease-up resilience, according to WDSuite’s CRE market data. This location offers durable fundamentals for buy-and-hold investors seeking stability over outsized volatility.
Positioned in an inner-suburban pocket of Turlock, the neighborhood ranks 4th among 130 Modesto-area neighborhoods with an A+ rating, signaling competitive fundamentals within the metro. Amenity access is a clear strength: restaurant density sits in the top decile nationally, with cafes, pharmacies, groceries, and parks all testing above national medians. For renters, this translates into day-to-day convenience and supports retention.
Neighborhood occupancy is strong at the area level and has improved over the past five years, placing it in the top national tier. Importantly, this is measured for the neighborhood, not the property. The share of renter-occupied housing units is also elevated locally, indicating a deep tenant base that supports sustained multifamily absorption and renewals.
Within a 3-mile radius, demographics indicate a growing population and an increase in households, expanding the renter pool over the planning horizon. As households expand and average household size trends modestly lower, demand for professionally managed apartments typically broadens, supporting occupancy stability and leasing velocity.
On the cost-of-ownership side, home values test above national norms, and the value-to-income ratio ranks high nationally. In markets where ownership carries higher costs, multifamily tends to retain residents longer, reinforcing pricing power. At the same time, neighborhood rent-to-income levels remain manageable, suggesting measured affordability pressure that can support renewal rates with disciplined lease management.
Safety trends are mixed. Relative to the 130 Modesto metro neighborhoods, the area’s crime rank sits below the metro median, indicating it is not among the metro’s better-ranked areas on this metric. Nationally, the neighborhood’s safety position is below the median, though still comparable to many inner-suburban locations.
Property and violent offense indicators have shown recent volatility year over year. For underwriting, investors may want to monitor rolling multi-year trends and focus on property-level measures (lighting, access control) and community engagement to support resident experience. Comparisons should be made at the neighborhood level rather than the block level to avoid over-interpreting short-term fluctuations.
Regional employment access supports commuter renters. Notably, nearby corporate offices provide professional and operations roles that can underpin leasing demand noted in this submarket.
- Clorox — corporate offices (34.6 miles)
1500 East Ave comprises 89 units built in 1987, giving it a newer vintage relative to much of the surrounding housing stock. This positioning can be competitive versus older neighborhood inventory, while selective modernization (exteriors, interiors, and building systems) may unlock additional revenue and reduce near-term CapEx uncertainty. Neighborhood-level occupancy has been resilient and sits among national leaders, supporting income durability through cycles, based on CRE market data from WDSuite.
Amenity access is strong by national standards, and within a 3-mile radius both population and households are projected to increase, broadening the tenant base and supporting lease-up and renewal performance. Elevated ownership costs locally help sustain reliance on rental housing, while rent-to-income levels indicate measured affordability pressure that can support retention with disciplined operations. Key watch items include neighborhood safety volatility and monitoring whether recent population softness at the immediate neighborhood level moderates as broader-area household growth materializes.
- 1987 vintage offers competitive positioning versus older local stock with value-add potential
- Neighborhood occupancy ranks among national leaders, supporting income stability
- Strong amenity access and commuter reach underpin renter demand and renewals
- Elevated ownership costs reinforce multifamily reliance; rent-to-income remains manageable
- Risks: mixed safety trends and near-term local population softness warrant conservative underwriting