| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Fair |
| Demographics | 31st | Fair |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 275 W Alamos Ave, Clovis, CA, 93612, US |
| Region / Metro | Clovis |
| Year of Construction | 1976 |
| Units | 68 |
| Transaction Date | 2019-11-13 |
| Transaction Price | $6,005,000 |
| Buyer | MEGANOVA LP |
| Seller | 275 WEST ALAMOS AVENUE LLC |
275 W Alamos Ave Clovis Multifamily Investment
This 68-unit property built in 1976 sits in a neighborhood with 95.1% occupancy and strong rental demand fundamentals. Commercial real estate analysis from WDSuite shows the area ranks in the top quartile among 246 metro neighborhoods for crime safety.
Located in Clovis, this inner suburb neighborhood demonstrates solid multifamily fundamentals with 95.1% occupancy rates and 57.1% of housing units renter-occupied, indicating strong rental demand. The area ranks 50th among 246 Fresno metro neighborhoods overall, earning an A- rating with particularly strong performance in amenities and safety metrics.
Demographics within a 3-mile radius show a population of nearly 100,000 residents with median household income of $72,467. Five-year projections indicate 7.4% population growth and a 35.4% increase in median household income to $98,133, supporting expanded renter pool and pricing power potential. The forecast shows households growing by 38.4% over the next five years, reinforcing multifamily demand drivers.
The property's 1976 construction year aligns with the neighborhood average, suggesting consistent building stock that may present value-add renovation opportunities for investors focused on capital improvements. Current median contract rents of $1,144 in the immediate neighborhood provide a baseline for rental pricing, while the broader 3-mile area shows median rents of $1,226 with 28.3% growth over five years.
Amenity density supports tenant retention with 3.43 grocery stores per square mile (92nd national percentile) and 18.31 restaurants per square mile (96th national percentile). The area also provides 1.14 childcare facilities per square mile, ranking in the 84th national percentile, appealing to family renters who comprise a significant portion of the local demographic base.
The neighborhood demonstrates strong safety metrics that support tenant appeal and retention. Property crime rates rank 31st among 246 Fresno metro neighborhoods, placing it in the 86th national percentile for safety. Notably, property crime has declined significantly with an 87.3% reduction over the past year, ranking 4th metro-wide for crime improvement trends.
Violent crime rates also trend favorably, with the area ranking 50th among metro neighborhoods and reaching the 74th national percentile. The neighborhood has experienced a 33.2% decline in violent crime over the past year, contributing to an overall crime rank of 8th among 246 metro neighborhoods and 84th national percentile performance.
The employment base includes corporate operations within commuting distance, providing workforce housing opportunities for area renters.
- Con Agra Foods — food processing and corporate offices (28.3 miles)
This 68-unit property offers stable multifamily fundamentals in a neighborhood with 95.1% occupancy and declining crime trends. Built in 1976, the asset presents potential value-add opportunities through strategic renovations while benefiting from strong local rental demand. According to CRE market data from WDSuite, the area's demographics show projected household growth of 38.4% over five years, expanding the potential tenant base significantly.
The neighborhood's A- rating reflects balanced investment characteristics, with particular strengths in safety metrics (84th national percentile) and amenity access. Five-year income growth projections of 35.4% to $98,133 median household income suggest improving tenant quality and rent growth potential, though investors should monitor the area's lower educational attainment levels and relatively modest current income base.
- High occupancy environment with 95.1% neighborhood-level occupancy supporting stable cash flows
- Strong safety profile with 86th national percentile property crime performance and improving trends
- Projected 38.4% household growth over five years expanding potential tenant base
- Value-add potential through strategic renovations of 1976-vintage units
- Risk consideration: Below-average educational attainment may limit tenant income growth potential