| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Fair |
| Demographics | 25th | Fair |
| Amenities | 92nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 651 Wayside Dr, Turlock, CA, 95380, US |
| Region / Metro | Turlock |
| Year of Construction | 1973 |
| Units | 31 |
| Transaction Date | 2004-11-01 |
| Transaction Price | $1,400,000 |
| Buyer | EAVENSON RALPH D |
| Seller | BROWN GLEN E |
651 Wayside Dr, Turlock CA Multifamily Investment
Neighborhood occupancy has held firm and renter demand is deep, according to WDSuite s CRE market data, pointing to steady tenant retention potential in this Urban Core pocket of Turlock. The area s high renter-occupied share supports leasing durability even as pricing requires attentive affordability management.
This Urban Core neighborhood scores well for everyday convenience, with amenities placing in the top quartile nationally. Grocery, restaurant, pharmacy, and cafe density all rank competitively within the Modesto metro, helping support livability and day-to-day appeal for renters.
Neighborhood occupancy is strong relative to national trends, and the renter-occupied share of housing units is high. For investors, that renter concentration indicates a sizable tenant base and supports leasing velocity and renewal potential for multifamily assets.
Within a 3-mile radius, recent population and household growth have been positive, with projections indicating further increases in households over the next five years. This points to a larger tenant pool and supports occupancy stability for well-positioned properties.
Ownership costs in the surrounding area are elevated compared with many U.S. neighborhoods, which tends to sustain reliance on rental housing. At the same time, rent-to-income levels in the neighborhood signal some affordability pressure, so operators should emphasize careful lease management and value-forward improvements to maintain retention.
School ratings in the neighborhood trend below national averages, which can modestly temper appeal for some family households; however, the combination of amenity access and renter depth remains supportive of multifamily demand.
Safety indicators for the neighborhood are mixed compared with metro and national benchmarks. By national comparison, overall conditions sit around the middle of the pack, with property-related incidents trending comparatively better than average and violent incident measures closer to national norms.
Within the Modesto metro (130 neighborhoods), the area performs competitively on several measures but not uniformly across all categories. Investors should underwrite with standard operational precautions and monitor year-over-year trends rather than relying on block-level assumptions.
- Clorox consumer products offices (33.7 miles)
The property benefits from a renter-driven submarket where neighborhood occupancy trends are solid and amenity access is strong, supporting day-to-day livability and leasing stability. Elevated ownership costs in the area reinforce multifamily demand, while a growing 3-mile household base points to a larger tenant pool and supports steady absorption. According to CRE market data from WDSuite, the neighborhood s renter-occupied share is high, which typically supports renewal rates and cushions seasonal leasing swings.
Operators should balance this demand backdrop with affordability awareness: neighborhood rent-to-income levels warrant attentive pricing strategy and resident retention programs. School quality skews below national averages, which may limit some family-driven demand, but overall fundamentals remain favorable for well-managed assets focused on value-forward operations.
- Renter-driven neighborhood supports leasing velocity and renewal potential
- Strong amenity access underpins livability and occupancy stability
- 3-mile household growth expands the tenant base over the medium term
- Elevated ownership costs sustain reliance on multifamily housing
- Risk: rent-to-income pressure and lower school ratings require careful lease and operations management