| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Fair |
| Demographics | 25th | Fair |
| Amenities | 92nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 303 Starr Ave, Turlock, CA, 95380, US |
| Region / Metro | Turlock |
| Year of Construction | 1973 |
| Units | 32 |
| Transaction Date | 2016-09-08 |
| Transaction Price | $2,495,000 |
| Buyer | SIB UNITY LLC |
| Seller | TOOR ENTERPRISES INCORPORATED |
303 Starr Ave, Turlock Multifamily Investment
Neighborhood occupancy is steady and renter-occupied concentration is high, pointing to durable tenant demand, according to WDSuite’s CRE market data. Pricing strategy should balance demand depth with local affordability management.
Situated in Turlock’s Urban Core within the Modesto, CA metro, the area combines everyday convenience with established renter demand. The neighborhood ranks 14 out of 130 metro neighborhoods overall (A rating), with dense amenity coverage including groceries, pharmacies, and dining options that support leasing velocity and resident retention.
From an income-property perspective, the neighborhood occupancy rate is in the upper tier locally and above national medians, supporting stability through cycles. Renter-occupied share in the neighborhood is elevated, indicating a deep tenant base for multifamily. Median contract rents have risen over the past five years, while rent levels remain positioned below major coastal metros, creating room for disciplined rent management rather than outsized growth assumptions.
Livability drivers are broad-based: grocery and restaurant density are both strong relative to metro and national benchmarks, and parks and childcare access track above mid-metro levels. Average school ratings trend below national medians; underwriting should lean on amenity and access strengths over school performance as a leasing driver.
Within a 3-mile radius, demographics show modest population growth and a small increase in households, expanding the local renter pool. Forecasts point to continued population growth and a notable increase in households alongside slightly smaller average household sizes, which can add incremental support for multifamily absorption and occupancy stability.
Ownership costs in the neighborhood track higher relative to local incomes, and home values have appreciated over the last five years. In practice, this high-cost ownership market tends to reinforce reliance on rental housing, which can support retention and pricing power for well-managed assets.
Public safety indicators are mixed and should be underwritten with care. The neighborhood’s crime rank is 38 out of 130 metro neighborhoods, which suggests higher incident levels relative to the metro median, while overall safety placement sits modestly below the national middle tier.
By offense type, estimated violent incidents position near the national midpoint, whereas property offense rates compare more favorably, trending in a stronger national percentile. Short-term crime trend measures have shown recent increases, so investors may consider security features, lighting, and operational oversight to support leasing and retention. These metrics reflect neighborhood-level comparisons rather than property-specific conditions.
Regional employment access includes established corporate offices that broaden the commuting tenant base and support leasing stability, including Clorox.
- Clorox — corporate offices (33.7 miles)
This 32-unit asset benefits from a high renter-occupied share at the neighborhood level, amenity-rich surroundings, and occupancy that trends above national medians — characteristics that typically support stable cash flows and steady leasing. According to CRE market data from WDSuite, neighborhood rent levels have advanced over five years while remaining measured relative to larger California metros, favoring disciplined rent strategies over aggressive growth assumptions.
Built in 1973, the property is slightly older than much of today’s competing stock and aligns closely with the submarket vintage. That positioning can offer value-add potential through targeted renovations and system upgrades to enhance durability and renter appeal. Key watch items include local affordability pressure (rent-to-income near one-third), below-median school ratings, and mixed safety signals, all of which argue for prudent expense planning and active asset management.
- Elevated neighborhood renter concentration supports a deep tenant base and occupancy stability
- Amenity-rich Urban Core location aids retention and leasing velocity
- 1973 vintage offers value-add potential via targeted renovations and system upgrades
- Rent growth has been steady; strategy should emphasize measured increases over outsized projections
- Risks: affordability pressure, below-median school ratings, and mixed safety trends warrant proactive management