| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Fair |
| Demographics | 49th | Best |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 501 N B St, Exeter, CA, 93221, US |
| Region / Metro | Exeter |
| Year of Construction | 1976 |
| Units | 24 |
| Transaction Date | 2025-09-10 |
| Transaction Price | $1,953,000 |
| Buyer | NUEVA SIERRA VISTA CORPORATION |
| Seller | OAKBRIDGE |
501 N B St Exeter Multifamily Investment
Neighborhood occupancy in the mid-90s points to steady leasing conditions, according to WDSuite’s CRE market data, though all occupancy figures reflect neighborhood-level performance rather than the property itself.
Exeter’s Inner Suburb setting delivers everyday convenience with a serviceable amenity mix. The neighborhood ranks 9th of 142 metro neighborhoods for overall amenities, placing it in the top quartile locally and above average nationally. Cafes, restaurants, groceries, and pharmacies score competitively versus U.S. peers, supporting daily needs and aiding tenant retention. Park access is limited, which investors should factor into positioning for residents seeking on-site or nearby recreation.
Multifamily fundamentals are resilient at the neighborhood level: occupancy is above the Visalia metro median (rank 70 of 142) and has edged higher over five years, supporting income stability potential. Renter-occupied housing accounts for a competitive share of units (rank 50 of 142; high national percentile), indicating a meaningful tenant base for smaller garden and walk-up assets.
The property’s 1976 vintage is newer than the neighborhood’s average construction year (1962). This positioning can provide an advantage versus older stock, while still leaving room for targeted renovations and system updates to enhance competitiveness and rentability.
Demographic indicators aggregated within a 3-mile radius show recent population softness but a forward-looking increase in households and a larger renter pool projected over the next five years, implying a broader tenant base and support for occupancy stability. Median home values are elevated for the area and rent-to-income ratios are low, a combination that tends to sustain reliance on rental housing and can support lease retention and measured pricing power, based on CRE market data from WDSuite.
Schools rate around average nationally and in the top quartile among Visalia neighborhoods by rank, which may help stability for family renters, though results are mixed by campus. Overall, the neighborhood’s A rating and above-median housing metrics versus the metro position it as competitive for workforce-oriented multifamily demand.
Comparable, neighborhood-level crime metrics were not available in the current WDSuite release for this location. Investors should rely on standard due diligence, including recent police blotter trends, third-party crime analytics, and on-site observations, to assess safety conditions relative to nearby Visalia-area neighborhoods.
Nearby employment is anchored by manufacturing and packaging operations that support steady, commute-friendly renter demand. The list below highlights a key employer within a short drive.
- International Paper — packaging & paper products (1.9 miles)
This 24-unit, 1976-vintage asset benefits from neighborhood occupancy that sits above the Visalia metro median and a renter-occupied housing share that is competitive locally, supporting demand depth. The vintage is newer than the area’s average construction year, offering relative competitiveness versus older stock with room for value-add through targeted interiors, curb appeal, and systems modernization.
Within a 3-mile radius, projections indicate household growth and an expanding renter pool over the next five years, which can support occupancy stability and leasing velocity. Low rent-to-income ratios and a high-cost ownership context for the area reinforce renter reliance on multifamily housing; according to WDSuite’s commercial real estate analysis, neighborhood occupancy has been steady relative to metro trends, though NOI per unit performance is lower than national peers, warranting disciplined underwriting.
- Above-metro neighborhood occupancy supports stable cash flow potential
- 1976 vintage newer than area average, with value-add upgrade potential
- 3-mile projections show household growth and renter pool expansion
- Low rent-to-income dynamics may aid retention and measured pricing
- Risks: limited park access and lower NOI per unit vs. national peers