| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Fair |
| Demographics | 25th | Fair |
| Amenities | 92nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 550 Wayside Dr, Turlock, CA, 95380, US |
| Region / Metro | Turlock |
| Year of Construction | 1979 |
| Units | 38 |
| Transaction Date | 2020-06-19 |
| Transaction Price | $9,100,000 |
| Buyer | DENAIR MANOR 2019 PARINERSHIP |
| Seller | DENAIR MANOR APARTMENTS |
550 Wayside Dr Turlock Multifamily Investment
This 38-unit property built in 1979 operates in a neighborhood with 95.6% occupancy and strong rental demand, according to CRE market data from WDSuite.
This Turlock neighborhood demonstrates solid fundamentals for multifamily investment, ranking in the top quartile among 130 metro neighborhoods with an A rating. The area maintains 95.6% occupancy rates and benefits from a rental market where 71.3% of housing units are renter-occupied, placing it in the 97th percentile nationally for rental share. This high concentration of renters supports consistent demand for multifamily properties.
Built in 1979, the property aligns with the neighborhood's average construction year of 1972, suggesting potential value-add opportunities through strategic renovations and unit improvements. The area offers strong amenity access with grocery stores, restaurants, and pharmacies ranking in the 95th percentile or higher nationally, supporting tenant retention and appeal.
Demographics within a 3-mile radius show a population of approximately 73,400 with modest growth of 2.6% over five years. Median household income of $80,300 has grown 41.3% in recent years, while median contract rents increased 31.4% to $1,255. Forecasts project continued household formation with a 38% increase in total households by 2028, expanding the potential tenant base for multifamily properties in the area.
Home values averaging $378,000 with 90% appreciation over five years create elevated ownership costs that reinforce rental demand. The rent-to-income ratio suggests affordability pressures that may require careful lease management and renewal strategies.
Property crime rates in this neighborhood rank in the 80th percentile nationally, indicating relatively low property crime compared to other neighborhoods across the country. However, recent trends show property crime increased 46.9% year-over-year, requiring ongoing monitoring of security conditions.
Violent crime rates place the neighborhood at the 51st percentile nationally, representing moderate levels compared to other metro areas. Investors should note that violent crime increased 91.5% year-over-year, though this may reflect statistical volatility from a smaller baseline rather than sustained deterioration.
The employment base includes corporate office presence, though major employers are located outside the immediate area and may require commuter-friendly positioning for tenant attraction.
- Clorox — consumer products corporate offices (33.7 miles)
This 1979-built property offers value-add potential through strategic improvements while benefiting from strong neighborhood rental fundamentals. The area's 95.6% occupancy rate and 71.3% rental share create a stable operating environment, with demographic projections showing 38% household growth by 2028 supporting continued rental demand.
Elevated home values averaging $378,000 reinforce rental market positioning, while the neighborhood's A rating and top-quartile metro ranking reflect solid investment fundamentals according to multifamily property research from WDSuite.
- Strong occupancy stability with 95.6% neighborhood rates and high rental share
- Value-add renovation opportunities in 1979 vintage property
- Projected 38% household growth by 2028 expanding tenant base
- Top-quartile neighborhood ranking with A rating fundamentals
- Risk: Recent crime increases and affordability pressures require active management