| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 54th | Best |
| Amenities | 47th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 505 Villa Ave, Clovis, CA, 93612, US |
| Region / Metro | Clovis |
| Year of Construction | 1996 |
| Units | 74 |
| Transaction Date | 1994-12-07 |
| Transaction Price | $2,418,500 |
| Buyer | GSF VILLA CLOVIS INVESTORS L P |
| Seller | REALTY INVESTMENT FUND V |
505 Villa Ave, Clovis CA — Multifamily Investment Positioning
Neighborhood occupancy is reported at full levels and renter concentration is elevated, pointing to durable tenant demand, according to WDSuite’s CRE market data.
Located in an inner-suburban pocket of Clovis within the Fresno metro, the area around 505 Villa Ave combines everyday convenience with strong renter dynamics. Restaurant density ranks competitive among 246 Fresno neighborhoods, and grocery access trends in the top percentiles nationally; together these support resident livability and routine spend near the asset. Park and pharmacy access are comparatively limited within the immediate neighborhood, which may modestly influence lifestyle appeal for some renter cohorts.
For investors, the neighborhood’s occupancy is measured at the high end among 246 metro neighborhoods, signaling stable leasing conditions at the neighborhood level rather than for any specific property. Renter-occupied share is also elevated, indicating depth in the tenant base and support for multifamily absorption and retention.
Within a 3-mile radius, population grew modestly over the last five years and is projected to expand further, with households expected to increase meaningfully by the 2028 forecast window. This points to a larger tenant base and supports occupancy stability. Median incomes have risen, and forecasts indicate continued gains, which can underpin rent collections and reduce turnover risk as rents adjust with income growth. The neighborhood’s value-to-income ratio sits in a high-cost ownership context relative to national norms, which tends to reinforce reliance on multifamily rentals and can aid pricing power and lease-up velocity.
The property’s 1996 vintage is newer than the neighborhood’s older average building stock, offering relative competitiveness versus pre-1970 assets; investors should still underwrite routine modernization and system updates to maintain positioning. Average school ratings in the neighborhood track below national medians, which may shape unit mix appeal and marketing strategy, but does not preclude strong workforce rental demand given the area’s convenience and service amenities. These observations are based on commercial real estate analysis derived from WDSuite’s datasets.
Safety indicators show a mixed but generally constructive backdrop. The neighborhood’s overall crime rank is in a less favorable cohort within the Fresno metro (ranked against 246 neighborhoods, where a lower rank indicates higher crime), yet national benchmarks place this area in stronger percentiles compared with many U.S. neighborhoods. Property and violent offense measures sit in higher national percentiles for safety, and recent data show notable year-over-year declines in property offenses, suggesting improving trends. These figures reflect neighborhood-level patterns, not building-specific conditions, and should be paired with on-the-ground diligence.
Regional employment access supports renter demand via commutability to major Central Valley employers. The following nearby corporate presence provides a diversified draw for residents.
- Con Agra Foods — consumer packaged goods (29.2 miles)
505 Villa Ave offers exposure to a renter-heavy Clovis submarket with full neighborhood occupancy, strong amenity access for daily needs, and ownership costs that skew higher versus incomes, reinforcing multifamily reliance. According to CRE market data from WDSuite, neighborhood-level leasing conditions are tight, and the local tenant base is supported by measured population growth within a 3-mile radius and forecast household expansion that broadens the pool of prospective renters.
Built in 1996, the asset is newer than much of the area’s older stock, providing competitive positioning while warranting prudent capital planning for modernization to sustain rentability. Key watch items include below-median school ratings, limited park/pharmacy access within the immediate neighborhood, and mixed relative crime positioning within the metro—even as national safety percentiles compare favorably and property offenses have trended down.
- Tight neighborhood occupancy and elevated renter-occupied share support leasing stability
- Daily-needs amenities and strong restaurant/grocery density aid resident retention
- High-cost ownership context underpins sustained rental demand and pricing power
- 1996 vintage offers relative competitiveness; plan for targeted modernization
- Risks: below-median school ratings, limited parks/pharmacy nearby, and metro-relative crime rank warrant monitoring