| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Good |
| Demographics | 60th | Best |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 275 E Minnesota Ave, Turlock, CA, 95382, US |
| Region / Metro | Turlock |
| Year of Construction | 1986 |
| Units | 100 |
| Transaction Date | 2011-03-07 |
| Transaction Price | $7,350,000 |
| Buyer | Tilden Properties |
| Seller | JCM Partners |
275 E Minnesota Ave, Turlock CA — Multifamily with Stable Occupancy Drivers
Neighborhood occupancy remains tight and rents trend above many Modesto peers, according to WDSuite’s CRE market data, positioning this asset for steady demand without relying on aggressive lease-ups.
This Inner Suburb neighborhood ranks 3 out of 130 Modesto neighborhoods overall (A+), signaling competitive fundamentals within the metro. Occupancy in the surrounding neighborhood is strong and above the metro median, and sits in the top decile nationally, underscoring durable renter demand and lower downtime risk for stabilized assets.
Daily-needs access is a clear advantage. Grocery and pharmacy density both sit in the 94th percentile nationally, with restaurants and cafes also above national medians. While parks are limited locally, the amenity mix still supports resident convenience and lease retention for working households.
Home values in the neighborhood are elevated (nationally high percentile), and the value-to-income ratio is also high versus national norms. For investors, a high-cost ownership market often sustains reliance on multifamily, supporting pricing power and length of stay. At the same time, the neighborhood rent-to-income ratio trends near 0.19, which points to manageable affordability pressure relative to many California submarkets and can aid collections and renewals.
Within a 3-mile radius, demographics show modest population growth with a projected increase in households and a slight reduction in average household size. This combination typically expands the renter pool and supports occupancy stability. Renter-occupied housing represents roughly 45% of units in the 3-mile radius, indicating a sizable tenant base for a 100-unit property. The property’s 1986 vintage is newer than the neighborhood’s average construction year (1975), offering competitive positioning versus older stock, though selective modernization can still enhance NOI.
Safety signals are mixed and warrant standard operational diligence. Within the Modesto metro, the neighborhood’s crime rank is on the less favorable side (27 out of 130), while national comparisons indicate relatively stronger standing: violent offense rates align with the upper half nationally and property offense sits in a higher national safety percentile. Investors should note that the most recent year showed an uptick in estimated property offenses; maintaining lighting, access control, and partnerships with local patrols can help manage trend volatility.
Regional employment access supports renter demand, with commuting reach to select corporate offices that broaden the leasing pool and help stabilize renewals. Notable employer within the wider commute shed includes:
- Clorox — consumer products (32.9 miles)
The property’s scale (100 units) and 1986 vintage align well with a neighborhood that posts above-median metro occupancy and strong national standing for stabilization. Elevated home values and a high value-to-income context tend to reinforce renter reliance on multifamily, while rent-to-income levels near the neighborhood indicate room for disciplined rent growth and retention. Based on CRE market data from WDSuite, the area’s occupancy performance and amenity density point to steady leasing velocity relative to many Modesto submarkets.
Within a 3-mile radius, modest population growth and a projected increase in households suggest a larger tenant base over time, even as average household size trends down. The asset’s slightly newer vintage than the neighborhood average provides a competitive edge versus older stock, with targeted upgrades offering value-add potential.
- Tight neighborhood occupancy and competitive ranking support stable collections and lower downtime
- Elevated ownership costs in the area sustain renter demand and pricing power
- 1986 vintage offers competitive positioning versus older stock with selective renovation upside
- Risk: recent uptick in property offenses and limited park access call for active management and amenity programming