| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 34th | Good |
| Amenities | 30th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1650 Floral Ave, Selma, CA, 93662, US |
| Region / Metro | Selma |
| Year of Construction | 1976 |
| Units | 38 |
| Transaction Date | 2006-07-28 |
| Transaction Price | $2,450,000 |
| Buyer | SELMA APARTMENTS 1 LLC |
| Seller | AAF CONSULTANTS INC |
1650 Floral Ave Selma Multifamily Investment
Neighborhood multifamily occupancy is strong at 97.9%, supporting stable leasing dynamics for this 38-unit asset, according to WDSuite’s CRE market data. Steady renter demand in Selma provides a defensible baseline for income performance.
Located in Selma within the Fresno metro, the neighborhood posts a 97.9% multifamily occupancy rate and ranks 51 out of 246 locally — competitive among Fresno neighborhoods and in the top quartile nationally (88th percentile), based on CRE market data from WDSuite. Median contract rents are also competitive (62nd percentile nationally), suggesting room to sustain pricing while maintaining occupancy.
Home values trend elevated for local incomes (value-to-income ratio in the 84th percentile nationally), which typically reinforces reliance on rental housing and supports tenant retention. At the same time, the rent-to-income ratio is measured at 0.20, indicating manageable affordability pressure that can aid lease stability and reduce turnover risk.
Within a 3-mile radius, demographics show modest population growth alongside a faster increase in households and smaller average household sizes over recent years. This shift expands the renter pool and supports occupancy stability, particularly for well-managed workforce units.
Amenity access is mixed: café density is competitive in the metro (rank 51 of 246; 76th percentile nationally), while grocery, parks, and pharmacies are more limited relative to national benchmarks. Average school ratings trend near national mid-range, and the neighborhood’s Suburban profile aligns with drive-to-work patterns common across the Fresno region.
Vintage context: the neighborhood’s average construction year is 1979, while the subject property was built in 1976. The slightly older vintage points to typical capital planning needs and potential value-add through targeted renovations to enhance competitiveness against newer stock.
Tenure dynamics indicate a meaningful renter base within a 3-mile radius (about mid-40s percent of housing units renter-occupied), providing depth for multifamily demand without overexposure to any single renter cohort.
Comparable neighborhood crime benchmarking is not available in WDSuite for this location. Investors should evaluate recent trend data from local public sources and property-level security practices to contextualize leasing risk and insurance assumptions alongside metro-wide patterns.
Regional employers in food processing and packaging provide a stable commuter base that can support workforce housing demand and lease retention. Nearby anchors include Con Agra Foods and International Paper.
- Con Agra Foods — food processing (26.9 miles)
- International Paper — packaging & paper products (30.6 miles)
This 1976, 38-unit asset benefits from a neighborhood with competitive occupancy (97.9%) and nationally strong positioning for stability, while median rents remain mid-market relative to incomes. The homeownership landscape skews higher-cost for local earning power, which can reinforce multifamily demand and lease retention. According to CRE market data from WDSuite, the area ranks competitively within the Fresno metro on occupancy and housing indicators, supporting an income-focused thesis with selective renovation upside.
Demographic patterns within a 3-mile radius show modest population growth, faster household gains, and smaller household sizes — a combination that expands the renter pool and underpins steady leasing. Given the property’s slightly older vintage than the neighborhood average, targeted capex and interior updates can enhance positioning versus newer stock without overextending on scope.
- Competitive neighborhood occupancy supports income stability and leasing performance.
- Elevated ownership costs in the area sustain renter reliance and retention.
- 3-mile radius shows growing households and smaller sizes, expanding the tenant base.
- 1976 vintage offers value-add potential via targeted renovations and capex planning.
- Risks: mixed amenity access and older systems require prudent underwriting and asset management.