| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Fair |
| Demographics | 36th | Good |
| Amenities | 45th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 740 Villa Ave, Clovis, CA, 93612, US |
| Region / Metro | Clovis |
| Year of Construction | 1985 |
| Units | 57 |
| Transaction Date | 2000-09-20 |
| Transaction Price | $2,350,000 |
| Buyer | DEAN ISHII MANAGEMENT LLC |
| Seller | MARIN ADVISORS INVESTORS V |
740 Villa Ave Clovis Multifamily Investment
This 57-unit property benefits from exceptional neighborhood occupancy at 100% and strong renter concentration at 85.1% of housing units, according to CRE market data from WDSuite.
The 740 Villa Ave property sits in an inner suburb neighborhood that ranks in the top quartile among 246 Fresno metro neighborhoods for crime safety and occupancy performance. The neighborhood demonstrates exceptional stability with 100% occupancy rates and 85.1% of housing units occupied by renters, creating a deep tenant pool for multifamily properties.
Built in 1985, the property aligns with the neighborhood's 1979 average construction year, suggesting potential value-add opportunities through strategic capital improvements and modernization. The area maintains competitive fundamentals with median contract rents at $1,236, while demographic data within a 3-mile radius shows household income growth of 68.9% over five years, supporting tenant retention and rent growth potential.
The neighborhood benefits from strong amenity density with parks ranking 8th among metro neighborhoods and restaurants providing solid tenant appeal. However, investors should note limited grocery and pharmacy access, which may require monitoring for tenant satisfaction. The area's rent-to-income ratio of 0.31 indicates manageable affordability for residents, though this ranks in the bottom quartile nationally, suggesting careful lease management considerations.
Forward-looking demographics within the 3-mile radius project 9.4% population growth through 2028, with household formation expanding by 39.8%, creating a larger renter pool. Median household income is forecast to increase 32.7% to $109,308, while median rents are projected to rise 35% to $1,851, indicating strong fundamentals for rental demand and pricing power.
The neighborhood demonstrates strong safety metrics, ranking 1st among 246 Fresno metro neighborhoods for overall crime performance and achieving the 92nd national percentile for low crime rates. Both violent and property crime rates have declined significantly over the past year, with violent offenses dropping 65.2% and property crimes falling 67.2%.
These safety improvements position the area competitively within the broader Fresno market and support tenant retention and leasing velocity. The neighborhood's top-tier crime ranking within the metro provides a compelling safety profile for prospective residents and contributes to operational stability.
The broader Fresno area employment base includes major corporate operations that support workforce housing demand in the region.
- Con Agra Foods — food processing and corporate offices (29.0 miles)
The 740 Villa Ave property presents a compelling multifamily investment opportunity anchored by exceptional neighborhood occupancy fundamentals and strong renter concentration. With 100% neighborhood occupancy and 85.1% of housing units renter-occupied, the area demonstrates sustained rental demand that supports operational stability. The 1985 construction year provides value-add potential through strategic capital improvements while maintaining cost-effective operations.
Demographic projections within the 3-mile radius show robust growth drivers, with household formation expanding 39.8% and median income rising 32.7% through 2028. These fundamentals, combined with the neighborhood's top-quartile safety ranking among 246 metro neighborhoods, create a foundation for tenant retention and rent growth. However, investors should monitor the area's limited grocery and pharmacy access for potential tenant satisfaction impacts.
- Exceptional neighborhood occupancy at 100% with strong renter concentration supporting demand stability
- 39.8% projected household growth and 32.7% income growth through 2028 expanding the tenant base
- Top-quartile safety ranking among Fresno metro neighborhoods supporting tenant retention
- 1985 vintage provides value-add opportunities through strategic capital improvements
- Risk consideration: Limited grocery and pharmacy access may impact tenant satisfaction