| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Good |
| Demographics | 73rd | Best |
| Amenities | 66th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 19499 Hess Ave, Sonora, CA, 95370, US |
| Region / Metro | Sonora |
| Year of Construction | 1999 |
| Units | 61 |
| Transaction Date | 2016-12-20 |
| Transaction Price | $750,000 |
| Buyer | OAK HILLS HOUSING LP |
| Seller | 60 FOREST VIEW SENIOR HOUSING LP |
19499 Hess Ave Sonora Multifamily Investment
This 61-unit property built in 1999 operates in a neighborhood ranking top quartile nationally for occupancy at 97.1%. According to CRE market data from WDSuite, the area shows strong fundamentals with above-average amenity access and improving crime trends.
The property sits in a suburban neighborhood ranking 1st among 26 metro neighborhoods for overall performance, with an A+ rating. Built in 1999, this asset aligns with the area's average construction vintage of 1992, positioning it competitively without immediate capital expenditure pressures typical of older multifamily stock.
Neighborhood occupancy reaches 97.1%, ranking 2nd among metro neighborhoods and placing in the 84th percentile nationally. With 30.9% of housing units renter-occupied, the area maintains steady rental demand while elevated home values at $292,783 median can reinforce renter reliance on multifamily housing. Contract rents average $1,183 monthly, ranking 7th metro-wide and supporting affordability with a 0.17 rent-to-income ratio.
Demographics within a 3-mile radius show a median household income of $82,161, with 27% of households renting. Population forecasts indicate modest household growth through 2028, potentially expanding the renter pool. The area benefits from strong amenity density, ranking 1st metro-wide for grocery stores, restaurants, and pharmacies per square mile, supporting tenant retention and lease-up velocity.
The neighborhood demonstrates moderate safety metrics relative to the 26-neighborhood metro area. Property crime rates rank 22nd metro-wide, though recent trends show improvement with a 30.5% decline in property offenses year-over-year, ranking 11th for crime reduction and placing in the 74th percentile nationally for improvement.
Violent crime remains relatively low at 37.3 incidents per 100,000 residents, with an even stronger downward trend showing a 39.7% reduction year-over-year. This improvement ranks 2nd among metro neighborhoods and places in the 81st percentile nationally, indicating positive momentum in neighborhood safety conditions.
Employment data for specific nearby employers is not available for this location. The broader Sonora area serves as a regional center for Tuolumne County, supporting local government, healthcare, and retail sectors that provide workforce housing demand.
This 61-unit property offers exposure to a top-performing suburban neighborhood with exceptional occupancy fundamentals. The 97.1% neighborhood occupancy rate, ranking 2nd among 26 metro neighborhoods, indicates strong rental demand stability. Built in 1999, the asset requires no immediate vintage-related capital planning while benefiting from the area's superior amenity density and improving safety trends.
Demographic projections within the 3-mile radius support continued multifamily demand through modest household growth, while elevated home values relative to incomes can sustain rental market participation. The combination of affordable rents, strong occupancy, and A+ neighborhood fundamentals creates a foundation for stable cash flows in a smaller California market.
- Neighborhood occupancy of 97.1% ranks 2nd among 26 metro neighborhoods
- 1999 construction vintage aligns with area norms without immediate CapEx pressure
- Strong amenity density supports tenant retention and lease velocity
- Improving crime trends with 30.5% reduction in property offenses
- Risk: Smaller market size may limit liquidity and buyer pool depth