| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Good |
| Demographics | 33rd | Fair |
| Amenities | 31st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15880 W Gateway Blvd, Kerman, CA, 93630, US |
| Region / Metro | Kerman |
| Year of Construction | 2012 |
| Units | 69 |
| Transaction Date | 2011-11-20 |
| Transaction Price | $393,000 |
| Buyer | WP HACIENDA HEIGHTS APARTMENTS L P |
| Seller | COVINGTON PROPERTY HOLDINGS L P |
15880 W Gateway Blvd Kerman Multifamily Investment
Neighborhood occupancy runs in the high-90s, suggesting steady leasing fundamentals around the asset, according to WDSuite’s CRE market data. With a 2012 vintage and 69 units, the property competes well against older local stock while serving renter demand supported by nearby workforce households.
Kerman’s inner-suburban location offers practical livability with a B neighborhood rating and occupancy at the neighborhood level ranked 60 out of 246 — top quartile among Fresno metro neighborhoods and strong nationally. For investors, that points to durable renter demand and lower downtime risk versus weaker submarkets.
Daily needs are reasonably covered, with grocery access performing above national norms and park availability competitive, while cafe and pharmacy density is limited. School ratings in the neighborhood trend below metro and national averages, which may tilt demand toward workforce and price-sensitive renters rather than school-driven moves.
At the neighborhood level, renter-occupied share sits in the mid-30% range, indicating a mixed tenure base that still provides a meaningful pool of prospective renters. Within a 3-mile radius, renter concentration trends closer to the low-50% range, broadening the tenant base for multifamily operators and supporting leasing velocity.
Ownership costs are elevated for the area relative to incomes (home values sit higher than many peer neighborhoods), which tends to sustain reliance on rentals and can aid retention. At the same time, rent-to-income levels are favorable locally, which supports payment performance and reduces affordability pressure—an important consideration in commercial real estate analysis.
The average construction year in the neighborhood is 1968. With a 2012 build, this property is newer than much of the local housing stock, positioning it competitively against older assets. Investors should still plan for system updates and common-area refreshes over a long hold, but the vintage provides a head start on ongoing capital needs.
Demographics aggregated within a 3-mile radius show population and household growth over the last five years, with households expanding faster than population—consistent with smaller household sizes. Looking ahead, forecasts point to continued population growth and a notable increase in households, which translates to a larger renter pool and support for occupancy stability.
Comparable safety context at the neighborhood level is important for underwriting, but specific crime metrics for this area were not available in WDSuite’s current release. Without recent rank or percentile data, investors may wish to supplement with local public records and property-level security history to assess trend direction and any block-level factors that could influence leasing or insurance costs.
The area draws from a regional employment base that supports workforce housing demand, with proximity to food processing and related corporate offices that can help underpin renter retention.
- Con Agra Foods — food processing offices (14.4 miles)
This 2012, 69-unit asset competes favorably in a neighborhood where occupancy ranks in the top quartile of the Fresno metro, indicating resilient demand and limited vacancy risk. Newer construction relative to a 1960s-era average local vintage supports operational competitiveness, while neighborhood rent-to-income levels suggest manageable affordability pressure that can aid collections and retention.
Within 3 miles, population and households have been expanding and are projected to continue growing, pointing to a larger tenant base over time. Elevated ownership costs in the area sustain rental reliance, which can support pricing power during renewals, according to CRE market data from WDSuite. Investors should still underwrite routine modernization over the hold to keep the property positioned ahead of older stock.
- Top-quartile neighborhood occupancy supports leasing stability
- 2012 vintage outcompetes older area stock with modest capex planning
- Expanding 3-mile population and households deepen the renter pool
- Elevated ownership costs reinforce reliance on multifamily rentals
- Risk: Limited cafe/pharmacy density and below-average school ratings could temper some demand drivers