| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Good |
| Demographics | 18th | Fair |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1040 W Grand Ave, Porterville, CA, 93257, US |
| Region / Metro | Porterville |
| Year of Construction | 1981 |
| Units | 91 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1040 W Grand Ave Porterville Multifamily Investment
This 91-unit property benefits from strong neighborhood-level occupancy at 98% and resilient rental demand fundamentals. According to WDSuite's CRE market data, the area demonstrates above-average amenity access and stable renter concentration supporting long-term tenant retention.
This Inner Suburb neighborhood ranks 13th among 142 metro neighborhoods with an A rating, positioning it in the top quartile for overall market fundamentals. The area demonstrates strong occupancy stability with neighborhood-level occupancy at 98%, ranking 25th metro-wide and placing in the 89th national percentile. Renter-occupied units comprise 41.6% of local housing stock, indicating solid multifamily demand depth within the tenant base.
Built in 1981, the property aligns with the neighborhood's average construction year of 1980, suggesting consistent building stock without significant capital expenditure pressures relative to area norms. Demographic data aggregated within a 3-mile radius shows population growth of 7.2% over five years, with household formation increasing 13.7%, supporting an expanding renter pool. Projected growth through 2028 indicates continued population expansion of 17.9%, reinforcing long-term tenant demand stability.
The neighborhood offers competitive amenity access, ranking in the 80th national percentile with strong restaurant density (88th percentile nationally) and solid grocery access (72nd percentile nationally). Median contract rents of $1,072 have increased 41% over five years, while home values at $263,652 create favorable rental demand dynamics. The rent-to-income ratio of 0.16 suggests manageable affordability for area renters, supporting lease retention and renewal rates.
Crime data is not available for detailed neighborhood-level analysis. Investors should conduct independent due diligence on local safety conditions and trends when evaluating this market. The neighborhood's overall A rating and strong occupancy metrics suggest general area stability, though specific crime statistics require verification through local sources.
The local employment base includes corporate offices that support regional workforce housing demand, though major employers are located outside the immediate submarket.
- International Paper — manufacturing and corporate offices (17.4 miles)
This 91-unit property capitalizes on strong neighborhood fundamentals including 98% occupancy and top-quartile metro ranking. The area demonstrates resilient rental demand supported by population growth of 7.2% and projected expansion of 17.9% through 2028, indicating an expanding tenant base. Built in 1981, the property aligns with neighborhood construction norms while offering potential value-add opportunities through strategic improvements.
According to multifamily property research from WDSuite, the neighborhood's 89th national percentile occupancy ranking and 41% rent growth over five years reflect strong market dynamics. The area's amenity density ranks in the 80th percentile nationally, supporting tenant retention, while moderate rent-to-income ratios suggest sustainable affordability for the local renter base.
- Strong occupancy fundamentals with 98% neighborhood-level rates ranking in top quartile metro-wide
- Growing demographics with 17.9% projected population increase through 2028 supporting tenant demand
- Competitive amenity access ranking 80th percentile nationally enhancing tenant appeal
- Vintage construction may require capital planning for modernization and competitive positioning
- Limited nearby major employers may impact tenant diversity and lease-up velocity