| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 34th | Good |
| Amenities | 30th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1849 Nelson Blvd, Selma, CA, 93662, US |
| Region / Metro | Selma |
| Year of Construction | 1989 |
| Units | 85 |
| Transaction Date | 2011-09-21 |
| Transaction Price | $8,000,000 |
| Buyer | POST SHADOWBROOK L P |
| Seller | NELSON BLVD PARTNERS L P |
1849 Nelson Blvd Selma Multifamily Investment Opportunity
Neighborhood occupancy has held in the high-90s, indicating steady renter demand; according to WDSuite’s CRE market data, this suburban pocket of Fresno County has shown stable performance relative to metro patterns.
Selma’s suburban setting offers everyday conveniences with a modest amenity mix. Cafes are relatively accessible (top quartile nationally by density), while grocery access and restaurants track around the national middle. Parks and pharmacies are limited within the neighborhood itself, so residents often rely on nearby corridors for services. School ratings sit near the national median, which investors typically underwrite as neutral for leasing velocity.
From an investment standpoint, the neighborhood’s housing and occupancy profile is a key strength. Occupancy is competitive among Fresno neighborhoods (ranked 51 of 246) and sits in the top quartile nationally by percentile, supporting leasing stability. Median contract rents are above the national median for similar neighborhoods and have grown over the last five years, while the rent-to-income ratio around one-fifth suggests manageable affordability pressure that can aid retention.
Vintage also matters: the property was built in 1989, newer than the neighborhood’s average 1979 vintage. That positioning can provide an edge versus older stock, though investors should still plan for modernization of aging systems or selective upgrades to maintain competitiveness. Home values are elevated for the area (national percentile in the 70s) and the value-to-income ratio tracks in a higher national band, indicating a higher-cost ownership market that tends to sustain multifamily demand and reduce competition from entry-level for-sale alternatives.
Demographic statistics aggregated within a 3-mile radius show a larger tenant base with households expanding over recent years and population trending modestly upward. Forecasts indicate continued population growth and smaller average household sizes, which can broaden the renter pool for unit types that fit practical living needs. This directional backdrop, paired with above-median neighborhood housing metrics, aligns with expectations from commercial real estate analysis and supports a durable renter base.
Comparable safety metrics at the neighborhood level are not available in this dataset. Investors commonly benchmark safety alongside leasing and income trends using multiple sources (city and county reports, third-party indices) to validate on-the-ground conditions and trajectory before final underwriting.
Regional employers in manufacturing and paper products help underpin renter demand by providing stable, commute-feasible jobs for the workforce drawn to Selma and the greater Fresno area.
- Con Agra Foods — food manufacturing (26.8 miles)
- International Paper — paper & packaging (31.0 miles)
This 85-unit asset built in 1989 benefits from a neighborhood with competitive occupancy within the Fresno metro and top-quartile national standing by percentile, supporting leasing durability. The property’s vintage is newer than the area’s average, which can position it favorably against older comparables, though capital planning for systems and targeted interior improvements remains prudent. Elevated home values in the area and a higher value-to-income ratio indicate a high-cost ownership market that reinforces reliance on rentals, while rent-to-income levels near one-fifth can support retention.
Within a 3-mile radius, households have expanded and are projected to continue growing as average household sizes trend smaller, implying a broader tenant base over time. These demand signals—combined with steady neighborhood rent growth—suggest capacity for sustained occupancy and disciplined pricing, according to CRE market data from WDSuite.
- Competitive neighborhood occupancy and top-quartile national standing support stable leasing
- 1989 vintage offers a relative edge over older stock with value-add modernization potential
- High-cost ownership context sustains renter reliance, aiding demand depth and retention
- 3-mile demographics point to a growing, diversifying renter pool and support for occupancy
- Risks: thinner neighborhood amenity base and aging systems may require capex and careful positioning