| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Fair |
| Demographics | 31st | Fair |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 280 W Alamos Ave, Clovis, CA, 93612, US |
| Region / Metro | Clovis |
| Year of Construction | 1972 |
| Units | 64 |
| Transaction Date | 2003-06-01 |
| Transaction Price | $2,950,000 |
| Buyer | HUSSAIN AYAD |
| Seller | ROYAL VILLA APARTMENTS LLC |
280 W Alamos Ave, Clovis CA Multifamily Investment
Stabilized renter demand and mid‑90s neighborhood occupancy support durable income, according to WDSuite’s CRE market data. Positioned in an inner-suburban pocket of the Fresno metro, the asset benefits from a deep renter pool and a balanced rent-to-income profile.
This inner-suburban Clovis location offers day-to-day convenience with strong neighborhood amenities relative to the Fresno metro. Amenity access ranks 14th among 246 metro neighborhoods (Top quartile among 246 Fresno neighborhoods), with restaurants particularly dense (96th percentile nationally), plus grocery and pharmacy access in the upper 80s percentiles nationwide. Limited cafe density is a known tradeoff, but overall retail and parks coverage provide livability that supports leasing.
Neighborhood occupancy runs at 95.1% and sits in the 72nd percentile nationally, indicating generally steady absorption and retention. Median contract rents in the neighborhood are moderate for the region and have risen over the last five years, while the rent-to-income ratio of 0.23 suggests manageable affordability pressure that can support pricing discipline without overextending tenants.
The property’s 1972 vintage is slightly older than the neighborhood’s average construction year of 1976 (rank 117 of 246), pointing to potential value‑add through unit and systems upgrades. For investors, this can translate to selective capex that enhances competitive positioning against similar Class B stock while keeping replacement costs in check.
Within a 3‑mile radius, population has grown by roughly 4% since the prior period and is projected to expand a further 7% by 2028, with households also increasing. This trajectory supports a larger tenant base over time. Median household incomes have advanced meaningfully, and the renter‑occupied share near the property is slightly above half, indicating a deep pool of renter‑occupied units that underpins multifamily demand and lease‑up stability.
Home values in the neighborhood are below many coastal California submarkets, and together with rising incomes, this creates a market where multifamily remains a practical option for many households. In investor terms, elevated ownership costs in other parts of the region and moderate local rent levels can sustain rental reliance, supporting occupancy and reducing turnover volatility.
Safety signals should be interpreted comparatively. Within the Fresno metro, the neighborhood posts a low crime rank (8th of 246, where a lower rank indicates more crime), suggesting elevated incidents relative to nearby areas. However, national comparisons are more favorable: overall crime sits in the 84th percentile nationwide (safer than many U.S. neighborhoods), with violent offense rates in the 74th percentile.
Recent trend data is constructive. Estimated property offenses declined sharply year over year (among the strongest improvements in the metro, 31st of 246 with a 99th percentile national improvement), and violent offenses also moved lower (77th percentile nationally for one‑year improvement). Investors should monitor trajectory and local enforcement initiatives, but the directional trend supports a gradually improving operating backdrop.
Access to the broader Fresno labor market supports workforce renter demand. Notable nearby employment includes the following regional employer that contributes to commuting options for residents.
- Con Agra Foods — food processing (28.2 miles)
The 64‑unit asset at 280 W Alamos Ave benefits from steady neighborhood occupancy and a renter‑heavy housing base that supports ongoing demand. According to CRE market data from WDSuite, neighborhood occupancy is in the 72nd percentile nationally and the rent‑to‑income ratio sits near 0.23, combining demand depth with manageable affordability pressure. Restaurants, grocery, parks, and pharmacy access rank high versus national peers, reinforcing day‑to‑day livability that helps retention.
Built in 1972, the property is slightly older than the area’s average stock, creating clear value‑add opportunities through targeted renovations and building systems modernization. Within a 3‑mile radius, population and household growth today and into 2028 point to continued renter pool expansion, while moderate home values for the region keep multifamily relevant for households that prefer rental flexibility. Key risks include metro‑relative crime readings and the need for disciplined capex planning to capture renovation upside.
- Stable neighborhood occupancy and deep renter base support income durability
- 1972 vintage offers value‑add potential via unit and systems upgrades
- Strong amenity access (restaurants, grocery, parks, pharmacy) aids retention
- 3‑mile population and household growth expands the tenant pipeline
- Risks: metro‑relative crime readings and capex execution requirements