| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Poor |
| Demographics | 51st | Best |
| Amenities | 85th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 691 Alpha Rd, Turlock, CA, 95380, US |
| Region / Metro | Turlock |
| Year of Construction | 1972 |
| Units | 44 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
691 Alpha Rd Turlock Multifamily Investment Opportunity
Neighborhood occupancy is strong and has trended higher in recent years, supporting stability for a 44-unit asset, according to WDSuite’s CRE market data. With a balanced renter base locally, the submarket context points to durable leasing even through cycles.
Located in Turlock’s inner-suburban fabric of the Modesto, CA metro, the neighborhood posts an A+ rating and ranks 4th out of 130 metro neighborhoods—placing it in the top quartile locally. For investors, that combination typically signals durable renter demand and comparatively resilient operating fundamentals at the neighborhood level.
Livability supports leasing: restaurants, cafes, groceries, parks, and pharmacies all index above national averages (with restaurants and cafes particularly strong), offering everyday convenience that helps with retention and absorption. Median contract rents in the neighborhood sit near the national middle, while occupancy is elevated and has improved over the last five years—both constructive signals for pricing power without overreliance on aggressive concessions.
Tenure data indicates roughly half of housing units are renter-occupied, pointing to a sizable tenant base and depth for multifamily demand. Within a 3-mile radius, recent population and household growth have been modest, and forecasts indicate continued expansion alongside a gradual shift toward smaller average household sizes—factors that typically enlarge the renter pool and support occupancy stability for well-managed properties.
The subject property’s 1972 vintage is newer than the neighborhood’s older housing stock (average year 1953). That relative youth can be a competitive edge versus pre-1960s inventory, though investors should still plan for system updates or targeted renovations to maintain positioning and capture value-add upside where finishes or amenities lag modern expectations. Elevated home values in the area suggest a higher-cost ownership market, which can reinforce reliance on rental housing and aid lease retention for quality assets.
Safety outcomes in this neighborhood track below national averages and are below the Modesto metro median (ranked 73 out of 130 metro neighborhoods). Nationally, the area sits in a lower safety percentile, indicating conditions that warrant prudent property-level measures such as lighting, access control, and partnership with professional security vendors.
Recent data indicate a notable uptick in property-related incidents year over year, while violent incident rates remain comparatively lower than property crime. For investors, underwriting should incorporate realistic operating practices and budgets that reflect the neighborhood’s trend profile rather than block-level assumptions.
This 44-unit, 1972-vintage asset benefits from a neighborhood that ranks in the top quartile within the Modesto metro and demonstrates elevated occupancy with improving momentum. Based on CRE market data from WDSuite, local rents sit around the national middle while occupancy remains high, a combination that supports steady cash flow and measured rent growth without outsized concession risk. Within a 3-mile radius, population and household counts have grown and are projected to expand further, suggesting a gradually larger tenant base and support for leasing stability.
Relative to older nearby stock, the 1972 construction offers competitive positioning and potential to capture value through selective renovations and modernization. A high-cost ownership landscape tends to sustain multifamily demand and retention, while a moderate rent-to-income profile supports ongoing lease performance. Key watch items include neighborhood safety trends and the need for capital planning typical of 1970s assets.
- High neighborhood occupancy with positive five-year trend supports income stability
- 1972 vintage competitive versus older local stock, with value-add/modernization upside
- Within 3 miles, expanding household base points to a larger renter pool and leasing durability
- Ownership remains relatively costly in the area, reinforcing reliance on rental housing
- Risks: below-median metro safety ranking and normal CapEx needs for 1970s construction