| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Poor |
| Demographics | 47th | Good |
| Amenities | 42nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1550 N Hope Ave, Reedley, CA, 93654, US |
| Region / Metro | Reedley |
| Year of Construction | 1988 |
| Units | 104 |
| Transaction Date | 2011-02-16 |
| Transaction Price | $6,750,000 |
| Buyer | 1550 Hope LP |
| Seller | 1224 9th Street LLC |
1550 N Hope Ave Reedley Multifamily Investment
This 104-unit property built in 1988 positions investors in a neighborhood with strong occupancy fundamentals and improving safety metrics. According to CRE market data from WDSuite, the area demonstrates solid rental demand with a 93.7% occupancy rate and significant household income growth supporting tenant retention.
This inner suburb neighborhood ranks in the top quartile among 246 metro neighborhoods for safety, with violent crime rates in the 91st percentile nationally. The area maintains a 93.7% occupancy rate with median contract rents of $995, reflecting stable rental demand in the Fresno market. Demographics within a 3-mile radius show a median household income of $72,531 with substantial growth of 60% over five years, indicating strengthening tenant purchasing power.
The 1988 construction year aligns with neighborhood averages, suggesting potential value-add opportunities through strategic renovations and unit upgrades. With 44.3% of housing units occupied by renters within the broader area, the property benefits from established rental demand while projected household growth of 57.7% over the next five years supports long-term occupancy stability.
Local amenities include adequate grocery access with 1.4 stores per square mile ranking in the 77th percentile nationally, though cafe and park density remains limited. The neighborhood's average school rating of 4.0 out of 5 ranks in the 84th percentile nationally, supporting family-oriented tenant appeal and retention potential.
The neighborhood demonstrates strong safety fundamentals, ranking 7th among 246 metro neighborhoods for overall crime metrics and achieving the 85th percentile nationally. Violent crime rates place the area in the 91st percentile compared to neighborhoods nationwide, with recent trends showing a 65.4% decrease in violent offenses year-over-year.
Property crime rates have also improved significantly, declining 52.2% over the past year while maintaining rates comparable to suburban standards. These safety improvements support tenant retention and can contribute to stable occupancy levels for multifamily investors focused on long-term performance.
The broader employment base includes major corporate offices within commuting distance, providing workforce housing opportunities for the regional economy.
- International Paper — corporate offices (26.2 miles)
- Con Agra Foods — corporate offices (35.6 miles)
This 104-unit property offers investors exposure to a stabilizing Fresno submarket with improving fundamentals. The neighborhood's 93.7% occupancy rate and median household income growth of 60% over five years indicate strengthening tenant demand. The 1988 construction vintage presents value-add potential through strategic unit improvements and common area enhancements.
Demographic projections within a 3-mile radius show household growth of 57.7% over the next five years, expanding the potential tenant base. According to commercial real estate analysis from WDSuite, the area's safety improvements and school quality rankings support family-oriented rental demand while the inner suburb location provides accessibility to regional employment centers.
- Strong occupancy fundamentals with 93.7% neighborhood rate above metro averages
- Household income growth of 60% supporting tenant purchasing power
- Value-add potential through 1988 vintage property improvements
- Projected 57.7% household growth expanding tenant base over five years
- Risk consideration: Limited local amenity density may impact tenant retention