| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 13th | Poor |
| Amenities | 7th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 647 Perez St, Mendota, CA, 93640, US |
| Region / Metro | Mendota |
| Year of Construction | 2003 |
| Units | 81 |
| Transaction Date | 2025-06-30 |
| Transaction Price | $3,400,000 |
| Buyer | CENTRAL VALLEY HOLDINGS 1 LP |
| Seller | VILLAGE AT MENDOTA LP |
647 Perez St, Mendota CA Multifamily Investment
Neighborhood multifamily fundamentals point to stable occupancy and a deep renter base, according to WDSuite s CRE market data. Focus is on consistency rather than rapid growth, with demand supported by high renter concentration at the neighborhood level.
Location dynamics: Within the Fresno metro, this suburban neighborhood shows competitive occupancy dynamics among 246 neighborhoods, with neighborhood occupancy in the top quintile nationally. While amenities are limited locally, the renter pool is sizable and supports steady leasing.
Renter concentration and demand: Approximately 58.8% of neighborhood housing units are renter-occupied (rank 55 of 246), indicating a broad tenant base and demand stability for multifamily. This is a neighborhood-level tenure metric, not a property occupancy figure.
3-mile demographics: Data aggregated within a 3-mile radius show recent gains in population and households, with forecasts calling for additional household growth and smaller average household sizes. That pattern typically expands the renter pool and supports occupancy durability and lease-up flexibility.
Affordability and pricing power: Elevated home values relative to local incomes (high value-to-income ratio; above most U.S. neighborhoods) reinforce reliance on rental housing, which can aid retention and reduce turnover. Neighborhood rent-to-income readings are moderate, suggesting manageable affordability pressure; effective lease management remains important for stability. These takeaways reflect local conditions and align with broader commercial real estate analysis trends.
Amenities and schools: Amenity density is low versus the metro and nation, and average school ratings sit below national midpoints. For multifamily investors, this typically favors workforce-oriented positioning and pragmatic value propositions over premium, amenity-driven strategies.
Comparable neighborhood crime metrics are not available from WDSuite for this location. Investors often benchmark conditions using Fresno County and city-level trends, property-level security measures, and lender/insurance requirements to assess relative risk. Framing at this scale helps avoid block-level assumptions and keeps analysis consistent with portfolio underwriting.
Regional employment access is anchored by food processing and related corporate operations, supporting workforce housing demand and commute-oriented retention for renters. The employers listed below are representative of nearby demand drivers.
- Con Agra Foods food processing offices (23.6 miles)
Built in 2003, the asset is newer than the neighborhood average (1989), providing relative competitiveness versus older stock while leaving room for targeted modernization to enhance rents and reduce near-term capex surprises. Neighborhood-level occupancy is strong and the renter-occupied share is high, indicating depth in the tenant base and potential for stable collections. Elevated ownership costs relative to incomes further sustain reliance on rentals, while moderate rent-to-income readings support prudent, steady rent strategies.
Within a 3-mile radius, recent and projected increases in households alongside smaller household sizes point to renter pool expansion, aiding lease-up and backfilling. According to CRE market data from WDSuite, these dynamics are consistent with workforce housing demand patterns seen in similar Central California submarkets.
- 2003 vintage offers competitive positioning versus older neighborhood stock, with selective value-add potential
- Strong neighborhood occupancy and high renter-occupied share support leasing stability
- 3-mile household growth and smaller household sizes expand the renter pool
- Elevated ownership costs relative to incomes reinforce long-term rental demand
- Risks: limited local amenities/school ratings and distance to major employers may temper top-end rent growth