| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Fair |
| Demographics | 22nd | Fair |
| Amenities | 25th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 12455 Avenue 416, Orosi, CA, 93647, US |
| Region / Metro | Orosi |
| Year of Construction | 1983 |
| Units | 44 |
| Transaction Date | 2011-06-23 |
| Transaction Price | $282,500 |
| Buyer | TULARE 2010 COMMUNITY PARTNERS L P |
| Seller | ORCHARD MANOR ASSOCIATES |
12455 Avenue 416 Orosi Multifamily Investment Opportunity
This 44-unit property benefits from strong neighborhood occupancy fundamentals, with local occupancy reaching 98.4% and ranking in the top quartile among 142 Visalia metro neighborhoods, according to CRE market data from WDSuite.
The property is located in an inner suburb of Orosi within the Visalia, CA metro, an area characterized by high renter concentration and stable occupancy dynamics. The neighborhood's occupancy rate of 98.4% ranks 22nd among 142 metro neighborhoods, placing it in the 91st percentile nationally—a signal of sustained tenant demand and limited turnover risk. With 47.7% of housing units renter-occupied (87th percentile nationally), the area supports a deep multifamily tenant base. Median contract rent in the neighborhood stands at $700, below metro benchmarks, which may offer pricing flexibility or value-add repositioning potential for investors focused on rent optimization.
Built in 1983, the property is older than the neighborhood's 1954 average construction year, suggesting the asset may have benefited from more recent building standards while still presenting capital expenditure considerations typical of properties approaching their fifth decade. Investors should evaluate deferred maintenance, unit interiors, and systems upgrades as part of due diligence and capital planning. The property's 770-square-foot average unit size aligns with workforce housing demand in the region.
Demographics within a 3-mile radius show a population of approximately 16,300 residents, with household income averaging $72,640 and a median of $60,830. Five-year projections indicate median household income rising to $69,807, an increase of nearly 15%, while median contract rent is forecast to climb 39% to $1,152. These trends point to strengthening purchasing power among renters and potential for rent growth, though the neighborhood's current rent-to-income ratio of 0.16 ranks in the middle of the metro, suggesting affordability remains manageable for most tenants. Household size averages 4.2 persons, among the largest in the metro, reflecting family-oriented demand that can support lease stability and longer tenancies.
Amenity access is mixed. Grocery density is relatively strong, ranking in the 70th percentile nationally, which supports day-to-day convenience for tenants. Restaurant density also ranks well (80th percentile nationally). However, the neighborhood lacks nearby childcare facilities, parks, and pharmacies within the immediate vicinity, reflected in a 25th-percentile national amenity ranking. School quality averages 3.0 out of 5, ranking 6th among metro neighborhoods (61st percentile nationally), a moderate signal for families. Elevated home values relative to income (value-to-income ratio of 4.5, 76th percentile nationally) and a median home value of $233,546 limit accessibility to ownership for many households, reinforcing reliance on rental housing and supporting tenant retention for well-managed multifamily assets.
Crime data for this neighborhood is not available in the current dataset, limiting a direct comparison of safety metrics against metro or national benchmarks. Investors are encouraged to conduct independent due diligence, including consultation with local law enforcement, review of publicly available crime statistics, and on-site property visits to assess tenant perceptions and operational considerations related to security and resident comfort.
The property is positioned within commuting range of major corporate offices that anchor employment in the region, supporting workforce housing demand and lease stability.
- International Paper — corporate offices (17.8 miles)
- Con Agra Foods — corporate offices (44.0 miles)
This 44-unit property in Orosi presents a multifamily investment case grounded in occupancy strength and demographic tailwinds. Neighborhood-level occupancy of 98.4% ranks in the top decile among Visalia metro neighborhoods, reflecting tight supply and consistent tenant demand. The high share of renter-occupied units (47.7%, 87th percentile nationally) underscores a well-established rental market, while elevated home values relative to income reinforce tenant reliance on multifamily housing and support retention. Five-year demographic projections show median household income rising 15% and median contract rent climbing 39%, pointing to strengthening purchasing power and potential for rent growth as the market matures.
The property's 1983 vintage suggests the need for thoughtful capital planning around unit interiors, building systems, and common areas, but also positions the asset for value-add repositioning in a neighborhood where median rents remain below metro benchmarks. Investors should weigh renovation upside against capital outlays and assess the property's competitive positioning relative to newer stock. Amenity access is moderate, with strong grocery and restaurant density but limited childcare and park infrastructure, which may affect tenant appeal for certain demographics. Overall, the investment thesis hinges on occupancy stability, demographic momentum, and the opportunity to capture rent growth in a market with limited new supply and sustained renter demand.
- Neighborhood occupancy of 98.4% ranks in the top decile among 142 Visalia metro neighborhoods, signaling strong tenant demand and low turnover risk
- High renter concentration (47.7% of units, 87th percentile nationally) and elevated home values relative to income support sustained multifamily demand and tenant retention
- Five-year demographic projections show median household income rising 15% and median rent climbing 39%, positioning the asset for rent growth as purchasing power strengthens
- 1983 construction year and below-metro rents suggest value-add repositioning potential, though investors must plan for capital expenditures on interiors and systems
- Limited amenity infrastructure (childcare, parks) and moderate school ratings may constrain tenant appeal for certain family demographics, requiring careful lease management and marketing