| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Fair |
| Demographics | 25th | Fair |
| Amenities | 92nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 381 W Hawkeye Ave, Turlock, CA, 95380, US |
| Region / Metro | Turlock |
| Year of Construction | 1973 |
| Units | 103 |
| Transaction Date | 2015-11-12 |
| Transaction Price | $7,450,000 |
| Buyer | RVH Capital LLC |
| Seller | Standard Property Company |
381 W Hawkeye Ave Turlock Multifamily Investment
This 103-unit property benefits from strong neighborhood-level occupancy at 95.6% and a rental-heavy housing market with 71.3% of units occupied by renters. CRE market data from WDSuite indicates the area ranks in the top quartile among 130 metro neighborhoods for renter demand.
Located in Turlock's urban core, this neighborhood demonstrates strong rental fundamentals with 71.3% of housing units occupied by renters, ranking 3rd among 130 metro neighborhoods and placing in the 97th percentile nationally. Neighborhood-level occupancy remains stable at 95.6%, supported by diverse amenities including high grocery store density at 5.61 per square mile and restaurant access at 15.72 per square mile.
The 1973 construction year aligns with the neighborhood average of 1972, indicating consistent building stock that may present value-add renovation opportunities for investors focused on capital improvements. Median contract rents of $1,206 provide an affordable option in California's market, though investors should monitor the rent-to-income ratio which ranks lower among regional comparisons.
Demographics within a 3-mile radius show a population of 73,678 with projected growth to 76,440 by 2028, representing 3.7% expansion that supports continued renter pool growth. The area maintains a balanced age distribution with 24.8% of residents aged 18-34 and 35% aged 35-64, providing a stable tenant base for multifamily properties. Median household income of $80,518 has grown 41.7% over five years, improving tenant purchasing power while median rents increased 31.2% over the same period.
Safety metrics show mixed performance relative to regional and national benchmarks. Property crime rates rank 10th among 130 metro neighborhoods with a national percentile of 80, indicating relatively lower property crime compared to neighborhoods nationwide. However, recent trends show property crime increased 46.9% over the past year.
Violent crime rates rank 24th among metro neighborhoods, placing in the middle range locally, though recent increases of 91.5% warrant monitoring. Investors should consider these trends when evaluating tenant retention strategies and property management approaches, while noting that crime patterns can vary significantly within neighborhoods.
The employment base includes regional corporate presence that supports workforce housing demand in the Turlock area.
- Clorox — corporate offices (33.1 miles)
This Turlock property offers exposure to a rental-dominant market with strong occupancy fundamentals and demographic growth trends. The neighborhood's 95.6% occupancy rate and 71.3% renter share create a stable operating environment, while projected population growth of 3.7% through 2028 supports continued demand. The 1973 construction vintage presents potential value-add opportunities through strategic renovations and unit improvements.
According to commercial real estate analysis from WDSuite, the area benefits from high amenity density and affordable rents relative to California markets, though investors should account for recent crime increases and monitor rent-to-income pressures that may affect tenant retention and lease management strategies.
- Strong occupancy fundamentals with 95.6% neighborhood rate and top-quartile renter demand
- Population growth of 3.7% projected through 2028 supports rental pool expansion
- Value-add potential from 1973 vintage and renovation opportunities
- High amenity density with grocery and restaurant access supporting tenant retention
- Risk consideration: Recent increases in both property and violent crime require monitoring