| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Fair |
| Demographics | 31st | Fair |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2245 Peach Ave, Clovis, CA, 93612, US |
| Region / Metro | Clovis |
| Year of Construction | 1972 |
| Units | 66 |
| Transaction Date | 2003-08-21 |
| Transaction Price | $3,250,000 |
| Buyer | MEGANOVA LP |
| Seller | PEACHLAND APARTMENTS LLC |
2245 Peach Ave, Clovis CA Multifamily Investment
Stabilized renter demand in an inner-suburban pocket of Clovis supports steady operations, with neighborhood occupancy trending above national averages according to WDSuite’s CRE market data. A 66-unit, 1972 vintage asset presents potential for targeted value-add to enhance competitive positioning.
The property sits in an Inner Suburb neighborhood of the Fresno metro with an A- rating, signaling broadly favorable fundamentals for multifamily. Neighborhood occupancy is in the 72nd percentile nationally, supporting income stability, while renter concentration is meaningful (about 57% of housing units are renter-occupied), expanding the tenant base for lease-up and renewals. Median contract rents in the area are competitive relative to the metro (ranked 84th of 246 Fresno neighborhoods) and sit modestly above national norms, a backdrop that can support pricing without overreliance on concessions.
Daily-needs accessibility is a local strength: grocery, park, and pharmacy access all rank in the top quartile among 246 Fresno neighborhoods, and restaurant density also ranks in the top quartile nationally. Café density is thinner, which may limit walk-to cafe options, but core convenience retail is well represented. Average school ratings in the neighborhood trail national norms, which investors should weigh when assessing demand from family households.
Within a 3-mile radius, WDSuite data shows measured population growth over the last five years alongside a modest increase in household counts, indicating a gradually expanding renter pool. Forecasts point to additional gains in households over the next five years with slightly smaller household sizes, a pattern that generally supports demand for rental housing and occupancy stability. Median home values in the neighborhood are moderate by California standards, which can sustain renter reliance on multifamily while introducing some competition from ownership; disciplined lease management remains important for retention.
Construction year averages nearby skew to the mid-1970s; at 1972, this asset is slightly older than the neighborhood average (1976), suggesting scope for targeted renovations and system upgrades to improve rentability and reduce future capital volatility. For investors, the combination of steady renter demand, service-rich surroundings, and value-add levers forms a pragmatic, operations-focused thesis.
Safety signals are mixed in a useful way for benchmarking. The neighborhood’s crime rank stands 8th among 246 Fresno neighborhoods (a lower rank indicates higher relative crime within the metro), so investors should underwrite appropriate security and operating practices. At the same time, national comparisons are more favorable: violent offense risk trends around the 74th percentile and property offense around the 86th percentile versus neighborhoods nationwide, indicating comparatively stronger standing at the national level.
Trend direction is constructive: WDSuite data shows notable year-over-year improvement, with material declines in both violent and property offense estimates. While block-level outcomes vary and should be validated during due diligence, the broader trend supports prudent optimism when paired with standard multifamily risk controls.
Regional employment access is diversified at the metro scale, supporting workforce housing demand and commute flexibility. Notable nearby employer presence includes the following within driving reach.
- Con Agra Foods — food processing corporate offices (28.2 miles)
This 66-unit, 1972 vintage property benefits from a renter-heavy neighborhood, steady occupancy in the 72nd percentile nationally, and strong access to daily-needs amenities. The slightly older vintage relative to nearby stock points to clear value-add levers—interiors, common areas, and building systems—that can reinforce competitiveness and support rent growth without relying on aggressive assumptions. According to CRE market data from WDSuite, neighborhood rent levels are competitive within the Fresno metro, which helps balance revenue potential with retention.
Within a 3-mile radius, gradually increasing population and households—alongside forecasts for additional household growth and smaller average household sizes—signal a larger tenant base over time, supporting occupancy stability. Moderate ownership costs in the area can sustain multifamily demand while introducing some competition; disciplined leasing and focused CapEx planning remain the keys to durable performance.
- Renter-occupied share is high locally, expanding the tenant base and supporting leasing stability.
- Neighborhood occupancy sits above national averages, reinforcing income durability.
- Amenity access (grocery, parks, pharmacies, restaurants) ranks among the top quartile in the Fresno metro, supporting resident retention.
- 1972 vintage offers targeted value-add potential to elevate positioning versus nearby 1970s stock.
- Risks: local safety ranks weaker within the metro and ownership alternatives are accessible; underwrite security, tenant mix, and leasing strategy accordingly.