| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Fair |
| Demographics | 36th | Good |
| Amenities | 45th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1050 Minnewawa Ave, Clovis, CA, 93612, US |
| Region / Metro | Clovis |
| Year of Construction | 1982 |
| Units | 92 |
| Transaction Date | 1994-12-07 |
| Transaction Price | $3,356,000 |
| Buyer | GSF WOODSIDE CLOVIS INVESTORS LP |
| Seller | V RIF |
1050 Minnewawa Ave Clovis Multifamily Investment
This 92-unit community built in 1982 operates in a neighborhood with exceptional occupancy stability and strong safety metrics. The area ranks in the 92nd percentile nationally for low crime rates, according to CRE market data from WDSuite.
This inner suburb neighborhood in Clovis ranks 86th among 246 metro neighborhoods with a B+ rating, positioning it above the metro median for overall investment fundamentals. The area demonstrates exceptional occupancy stability with 100% neighborhood-level occupancy and ranks 1st among all metro neighborhoods for this metric. With 85.1% of housing units renter-occupied, the neighborhood maintains one of the strongest rental demand profiles in the region.
Built in 1982, this property aligns with the neighborhood's average construction year of 1979, suggesting consistent building stock that may present value-add renovation opportunities for investors focused on capital improvements. The median contract rent of $1,236 reflects affordable housing options that support tenant retention, though investors should monitor the rent-to-income ratio of 0.31, which ranks in the bottom quartile nationally and may indicate affordability pressures.
Demographics within a 3-mile radius show a stable population base of approximately 96,700 residents with modest growth of 0.7% over the past five years. Household income growth has been strong at 73.3% over five years, with median household income reaching $83,542. Projections through 2028 anticipate continued population growth of 8.5% and household formation increasing by 41.1%, supporting expansion of the renter pool and potential occupancy stability.
The neighborhood offers solid amenity access with restaurants and cafes ranking in the 83rd and 94th percentiles nationally, respectively. However, investors should note limited grocery and childcare options, which may affect tenant convenience. Parks rank in the 93rd percentile nationally, providing recreational amenities that support tenant satisfaction and retention.
The neighborhood demonstrates exceptionally strong safety metrics that support tenant retention and property values. Crime rates rank 1st among 246 metro neighborhoods, placing the area in the 92nd percentile nationally for low overall crime. Both violent and property crime rates show significant improvement, with violent offenses declining 65.2% year-over-year and property offenses dropping 67.2%.
The violent crime rate of 1.86 per 100,000 residents ranks 4th lowest in the metro area and places the neighborhood in the 92nd percentile nationally. Property crime rates of 10.2 per square mile rank 21st among metro neighborhoods, achieving the 90th percentile nationally. These safety fundamentals create a stable operating environment that can support consistent occupancy and reduce tenant turnover costs.
The broader Fresno metro employment base includes established corporate operations that support regional workforce housing demand.
- Con Agra Foods — food processing and corporate offices (29.0 miles)
This 92-unit property in Clovis presents a compelling investment opportunity anchored by exceptional neighborhood-level occupancy stability and strong safety metrics. The 100% occupancy rate ranks 1st among 246 metro neighborhoods, while crime rates place the area in the 92nd percentile nationally for safety. Built in 1982, the property offers potential value-add opportunities through strategic renovations that could capture upside in a market with demonstrated rental demand stability.
Demographics within a 3-mile radius support long-term fundamentals, with projected population growth of 8.5% and household formation increasing 41.1% through 2028. Strong household income growth of 73.3% over five years indicates improving tenant quality, though the rent-to-income ratio of 0.31 suggests investors should carefully monitor affordability dynamics and renewal strategies. The high renter-occupied share of 85.1% reinforces the depth of local rental demand.
- Exceptional occupancy stability with 100% neighborhood occupancy ranking 1st among metro areas
- Strong safety profile ranking in 92nd percentile nationally for low crime rates
- Value-add potential with 1982 construction year offering renovation upside opportunities
- Projected demographic growth of 8.5% population and 41.1% household formation through 2028
- Risk consideration: Low rent-to-income ratio requires careful affordability and renewal management