| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 28th | Fair |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 990 E Springfield Ave, Reedley, CA, 93654, US |
| Region / Metro | Reedley |
| Year of Construction | 1989 |
| Units | 76 |
| Transaction Date | 2014-12-03 |
| Transaction Price | $2,204,000 |
| Buyer | PK RIVERLAND LP |
| Seller | RIVERLAND APARTMENTS ASSOCIATES |
990 E Springfield Ave Reedley Multifamily Investment
Neighborhood fundamentals point to stable renter demand and tight occupancy in this Inner Suburb pocket of Reedley, according to CRE market data from WDSuite. For investors, the area’s balance of workforce households and everyday amenities supports consistent leasing without relying on luxury-driven growth.
Reedley’s 990 E Springfield Ave sits in an Inner Suburb neighborhood that ranks in the top quartile among 246 Fresno metro neighborhoods (A- rating), signaling comparatively strong local livability and demand drivers. The property’s 1989 vintage is newer than the neighborhood’s average construction year of 1978, which can offer a competitive edge versus older stock while still leaving room to modernize systems and finishes as part of a value-add plan.
Day-to-day convenience is a relative strength: neighborhood access to groceries, pharmacies, parks, and restaurants rates in the higher national percentiles, helping with tenant retention and leasing stability. By contrast, cafes and childcare options are thinner locally, which may modestly limit appeal for some households and should be considered when positioning amenities and services.
From a multifamily demand standpoint, the share of housing units that are renter-occupied in the neighborhood is high by national comparison, indicating a deeper tenant base for a 76-unit community. Within a 3-mile radius, past population and household counts have been soft, but projections point to population growth and a notable increase in households alongside smaller average household size—factors that can expand the renter pool and support occupancy durability.
Ownership costs are elevated relative to local incomes (value-to-income sits in a higher national percentile), which tends to reinforce reliance on rental housing. At the same time, neighborhood rent-to-income is comparatively low, suggesting manageable rent levels that can aid lease retention and measured pricing power rather than stretch tenants.
Safety indicators for the neighborhood compare favorably both within the Fresno metro and nationally. Overall crime ranks above the metro median among 246 neighborhoods, and national comparisons place the area in stronger percentiles for safety. Property-related offenses benchmark in a high national percentile, and recent readings improved year over year, supporting a stable operating backdrop.
Violent-offense readings score stronger than many neighborhoods nationally, but recent year-over-year movement has been mixed. Investors should frame risk at the neighborhood level, monitor trends, and weigh property-level measures (lighting, access control, partnerships with local authorities) as part of ongoing operations rather than relying on block-specific assumptions.
Regional employers in packaging and food production contribute to a broad Central Valley employment base, supporting workforce renter demand and commute convenience for residents of Reedley. The list below highlights nearby corporate offices relevant to tenant employment patterns.
- International Paper — packaging & paper (25.0 miles)
- Con Agra Foods — food processing/CPG (36.3 miles)
This 76-unit, 1989-vintage asset benefits from neighborhood-level occupancy strength and a renter base that is comparatively deep by national benchmarks. Based on CRE market data from WDSuite, the area ranks in the top quartile of Fresno neighborhoods, with strong access to daily needs (groceries, pharmacies, parks, restaurants) that supports tenant retention. The vintage is newer than much of the surrounding stock, giving the property competitive positioning today with optionality for targeted renovations to drive rent and resident experience.
Within a 3-mile radius, projections indicate population growth and a substantial increase in households over the next few years, alongside smaller average household size—conditions that can expand the renter pool and support occupancy stability. Elevated ownership costs in context, paired with relatively manageable rent-to-income, point to sustained rental demand and measured pricing power, while thinner cafe/childcare offerings and mixed school ratings call for thoughtful amenity programming and resident services.
- Top-quartile neighborhood standing in the Fresno metro supports durable renter demand
- 1989 vintage is newer than local average, with value-add and modernization potential
- Daily-needs amenities (groceries, pharmacies, parks, restaurants) aid retention and leasing
- 3-mile projections show population and household growth, expanding the renter pool
- Risks: thinner cafe/childcare options and mixed school ratings; monitor safety trends and tailor operations accordingly