| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Fair |
| Demographics | 27th | Fair |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 400 W Forest Ave, Coalinga, CA, 93210, US |
| Region / Metro | Coalinga |
| Year of Construction | 1995 |
| Units | 42 |
| Transaction Date | 2020-12-21 |
| Transaction Price | $3,000,000 |
| Buyer | RIDGEVIEW PARTNERS LP |
| Seller | PI PROPERTIES NO 65 LLC |
400 W Forest Ave Coalinga Multifamily Investment
This 42-unit property built in 1995 operates in a neighborhood with 99.6% occupancy rates and growing household incomes. According to CRE market data from WDSuite, the area shows resilient rental demand fundamentals.
The property sits in an inner suburb neighborhood that ranks in the top quartile nationally for occupancy performance, with 99.6% occupancy rates among the 246 neighborhoods in the Fresno metro area. Median household income has grown 30% over five years to $77,380, while contract rents have increased 15% to $815, indicating balanced affordability for the tenant base.
Built in 1995, this property aligns with the neighborhood's average construction year of 1971, positioning it as newer stock that may require less immediate capital expenditure than older inventory. The area maintains 42.7% of housing units as renter-occupied, creating a substantial rental market foundation.
Demographics within a 3-mile radius show population growth of 4.7% over five years to approximately 12,075 residents, with household formation supporting rental demand. The rent-to-income ratio of 0.13 suggests affordable housing costs that support tenant retention. Median home values at $288,309 with 55% growth over five years maintain elevated ownership costs that reinforce rental demand for multifamily housing.
Local amenities include competitive pharmacy access and park density, both ranking in the top 20% nationally among neighborhoods. The area shows strong COVID resilience metrics, ranking in the 70th percentile nationally, suggesting economic stability during market disruptions.
Safety data for this specific neighborhood is not available in the current dataset. Investors should conduct independent due diligence on local crime statistics and security considerations as part of their comprehensive property evaluation process.
The employment base includes major corporate presence within commuting distance, providing workforce housing demand for the multifamily sector.
- Con Agra Foods — food processing and corporate offices (31.1 miles)
This 42-unit property offers exposure to a neighborhood with exceptional occupancy fundamentals, ranking 22nd among 246 Fresno metro neighborhoods for occupancy rates at 99.6%. The 1995 construction vintage positions the asset as newer stock relative to the area average, potentially reducing near-term capital expenditure requirements while maintaining competitive positioning.
Household income growth of 30% over five years to $77,380 demonstrates improving tenant quality, while the low rent-to-income ratio of 0.13 supports affordability and retention. Population growth within the 3-mile radius and elevated home values that reinforce rental demand create a foundation for stable cash flows, though the limited employment base requires monitoring for economic diversification.
- Top quartile occupancy performance at 99.6% among metro neighborhoods
- 30% household income growth over five years supports tenant quality
- 1995 construction reduces immediate capital expenditure needs
- Low rent-to-income ratio of 0.13 supports affordability and retention
- Risk: Limited employment diversity requires monitoring for economic concentration