| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Fair |
| Demographics | 36th | Good |
| Amenities | 45th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 707 Bush Ave, Clovis, CA, 93612, US |
| Region / Metro | Clovis |
| Year of Construction | 1986 |
| Units | 27 |
| Transaction Date | 2019-05-10 |
| Transaction Price | $2,889,000 |
| Buyer | THE CENTRAL VALLEY AG FUND LP |
| Seller | WAUGAMAN PROPERTIES LLC |
707 Bush Ave Clovis Multifamily Investment Opportunity
Neighborhood fundamentals point to stable renter demand — full neighborhood occupancy and a high renter-occupied share support consistent leasing, according to WDSuite’s CRE market data. This Inner Suburb location in the Fresno metro offers practical access to amenities and employment corridors with balanced long-term appeal.
Located in Clovis within the Fresno, CA metro, the neighborhood is rated B+ and ranks 86 out of 246 metro neighborhoods — competitive among Fresno neighborhoods. Amenity access trends are mixed: parks and cafes are strong (both in the top decile nationally), while neighborhood-level grocery and pharmacy counts are thin, suggesting residents may rely on nearby corridors for daily needs. For investors, this combination typically supports livability while keeping operating expectations grounded.
Renter demand signals are favorable. The share of housing units that are renter-occupied is high locally, indicating a deep tenant base and helping support occupancy stability at the neighborhood level. Median contract rents in the area have risen over the past five years and remain moderate versus major coastal markets, which can aid retention while allowing disciplined pricing strategies.
Within a 3-mile radius, demographics show modest population growth recently with projections for further expansion in both population and households over the next five years. A larger household count alongside slightly smaller average household size suggests a gradual expansion of the renter pool, which can sustain leasing velocity for well-managed assets. Household incomes have been trending higher, reinforcing the depth of qualified tenants for mainstream multifamily product.
Home values are lower than national averages in this part of the metro, which can introduce some competition from entry-level ownership. However, rent-to-income levels near one-third imply measured affordability pressure that owners should manage through renewal strategies and amenity positioning. Overall, the area’s Inner Suburb profile, strong park and cafe access, and durable renter presence align with steady multifamily demand, based on commercial real estate analysis from WDSuite.
Safety trends compare favorably at the national level. Neighborhood violent and property offense rates place the area in the top decile nationally for lower crime, and recent year-over-year data indicate meaningful declines in both categories. These comparisons are based on neighborhoods nationwide and provide helpful context for investor underwriting.
As with any submarket analysis, conditions can vary by block and over time. Investors typically validate these patterns through recent comps, management feedback, and updated local reporting to align expectations with on-the-ground leasing and retention dynamics.
The broader Fresno–Clovis area draws from a diversified regional employment base; proximity to established employers supports renter demand through commute convenience. Representative nearby employer listed below reflects accessible regional job centers that contribute to leasing stability.
- Con Agra Foods — food processing (29.0 miles)
707 Bush Ave is a 1986-vintage, mid-sized asset in an Inner Suburb location where neighborhood indicators point to resilient renter demand. The area shows full neighborhood occupancy with a high renter-occupied share, supporting steady leasing and renewal potential. According to CRE market data from WDSuite, local rents have trended upward while remaining manageable for mainstream households, helping balance pricing power with retention.
Relative to older neighborhood stock (average late-1970s), the 1986 vintage provides a competitive position, though investors should plan for mid-life system upgrades or targeted value-add to keep units aligned with renter expectations. Demographic trends within a 3-mile radius point to continued population and household growth, expanding the tenant base and supporting occupancy stability over the medium term. Key watch items include limited walkable grocery/pharmacy options and measured affordability pressure that calls for disciplined lease management.
- Occupancy stability backed by high renter-occupied share at the neighborhood level
- 1986 vintage offers competitive positioning versus older local stock, with targeted modernization potential
- 3-mile demographics point to population and household growth, enlarging the tenant base
- Rents trending upward while remaining manageable for mainstream demand, aiding renewals
- Risks: limited neighborhood grocery/pharmacy options and affordability pressures require careful lease and amenity strategy