| 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 | 2015-08-11 |
| Transaction Price | $7,800,000 |
| Buyer | FOX HOLLOW APARTMENTS LLC |
| Seller | PI PROPERTIES NO 112 LLC |
1040 W Grand Ave Porterville Multifamily Investment
Neighborhood occupancy is high with resilient renter demand, according to WDSuite’s CRE market data, positioning this 91-unit asset to compete on stability rather than lease-up risk.
Located in Porterville’s inner-suburb context of the Visalia metro, the neighborhood is rated A and ranks 13th of 142 metro neighborhoods—solidly top quartile—signaling durable location fundamentals for workforce-oriented apartments. Amenity access is competitive among metro peers (cafes, restaurants, parks, groceries rank near the top of the local distribution), supporting day-to-day convenience that can aid resident retention.
Occupancy in the surrounding neighborhood is approximately 98% and has trended higher over the past five years, indicating tight conditions and steady leasing velocity. Renter concentration is around 42% of housing units, suggesting a meaningful base of renter-occupied households that supports multifamily demand. Median contract rents sit above the metro median by rank, yet rent-to-income around the mid‑teens implies measured affordability pressure and manageable lease management considerations for owners.
Within a 3‑mile radius, population and household counts have expanded in recent years, with further growth forecast, pointing to a larger tenant base over the medium term. Household sizes are edging smaller while incomes are rising, which tends to sustain demand for professionally managed rentals rather than larger single-family homes. Median home values in the neighborhood are moderate for California, which can introduce some ownership competition, but they also help maintain rental demand among households prioritizing flexibility and lower upfront costs.
The area’s average school ratings are below national norms, which may temper appeal for some family renters, but strong neighborhood-level occupancy and amenity access offset part of that risk. Based on multifamily property research from WDSuite, the overall housing and amenity profile places the location above the metro median on several livability factors while aligning with workforce housing demand.
Neighborhood-level crime metrics were not available in WDSuite for this location at the time of publication. Investors typically benchmark site-specific observations against Visalia metro trends and municipal reports to gauge expectations for tenant retention and operating practices. A prudent approach is to review recent police blotters, speak with nearby operators, and evaluate property-level measures to align resident experience with underwriting assumptions.
Proximity to regional industrial employment underpins day-to-day renter demand and supports commute convenience for the workforce segment represented here. Notable nearby employer includes:
- International Paper — paper & packaging manufacturing (17.4 miles)
This 91‑unit asset benefits from a top‑quartile neighborhood within the Visalia metro and tight local conditions—neighborhood occupancy is about 98% with upward momentum—supporting income stability relative to softer submarkets. Renter concentration near 42% indicates depth in the tenant pool, while a mid‑teens rent‑to‑income ratio suggests room for measured rent growth without outsized retention risk. According to CRE market data from WDSuite, the immediate area’s amenity access compares favorably to metro peers, reinforcing leasing appeal.
Within a 3‑mile radius, population and household growth—paired with gradually smaller household sizes—points to ongoing renter pool expansion that can sustain occupancy. Median home values are moderate for California, which can create some competition from ownership; however, they also support steady reliance on rentals among households favoring flexibility and lower upfront costs. School quality trends below national averages are a watch item, but the combination of strong occupancy, broad renter base, and day-to-day convenience provides a constructive long-term setup.
- Tight neighborhood occupancy and top‑quartile metro location support income stability
- Renter concentration and 3‑mile household growth indicate a durable tenant base
- Amenity access competitive with metro peers enhances leasing and retention
- Balanced affordability (mid‑teens rent‑to‑income) allows measured pricing power
- Risks: below‑average school ratings and potential competition from ownership options