| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Good |
| Demographics | 18th | Fair |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1046 W Morton Ave, Porterville, CA, 93257, US |
| Region / Metro | Porterville |
| Year of Construction | 1981 |
| Units | 26 |
| Transaction Date | 2000-11-17 |
| Transaction Price | $785,000 |
| Buyer | FLORES REFUGIO D |
| Seller | MORTON PLACE APARTMENTS LLC |
1046 W Morton Ave Porterville Multifamily Investment
Neighborhood occupancy is strong and has trended higher in recent years, suggesting stable tenant demand around the asset, according to WDSuite’s CRE market data.
Positioned in Porterville’s Inner Suburb context within the Visalia metro, the area offers everyday convenience with a solid mix of groceries, pharmacies, parks, and dining. Amenity density tests in the upper national tiers for restaurants and everyday services, which can aid leasing and retention for a 26‑unit property serving workforce renters.
At the neighborhood level (not the property), occupancy is elevated and competitive among Visalia neighborhoods, with performance in the upper deciles nationally. That backdrop typically supports steadier rent rolls and fewer prolonged vacancies relative to weaker sub-areas. Median rents in the neighborhood sit in the mid-market range and have risen over the last five years, while the rent-to-income ratio remains moderate, which can support collections and lease renewal rates.
Renter-occupied housing comprises a meaningful share of units locally, indicating a viable tenant base for multifamily operators. Within a 3‑mile radius, population and household counts have grown and are projected to continue increasing, expanding the renter pool; at the same time, slightly smaller average household sizes point to demand for more rental units per capita. Together, these dynamics tend to support occupancy stability and steady leasing.
Two considerations for underwriting: average school ratings trend below national norms, which may matter for family-oriented tenant segments, and median home values are relatively accessible compared with coastal California hubs. More accessible ownership can introduce modest competition for higher-income renters, but it also keeps multifamily positioned as a practical option that can sustain demand depth, particularly for larger households seeking value and convenience.
Comparable crime benchmarks for this specific neighborhood are not available in WDSuite’s current dataset. Investors typically evaluate safety by comparing neighborhood trends to city and metro patterns and by reviewing recent police and municipal reports. As with any Inner Suburb location, conditions can vary by block; site visits and third‑party validations are prudent for confirming tenant experience and after-hours activity.
Regional employment includes manufacturing and paper products, which supports workforce housing demand and commuting patterns relevant to this property. The following nearby employer helps underpin renter demand within drive-time of the asset.
- International Paper — paper & packaging manufacturing (17.6 miles)
This 26‑unit asset benefits from a neighborhood with strong occupancy and a growing 3‑mile renter base. According to CRE market data from WDSuite, the neighborhood’s occupancy performance ranks competitively within the Visalia metro and sits in higher national tiers, an indicator of demand resilience. Median rents are mid-market with a moderate rent-to-income profile, supporting collections and renewal potential, while amenity access (groceries, pharmacies, parks, and dining) enhances day‑to‑day livability that can aid retention.
Forward-looking demographics point to continued population and household growth within 3 miles, alongside slightly smaller household sizes—factors that typically expand the tenant pool and support leasing stability. Balanced against these strengths are considerations such as below-average school ratings and relatively accessible homeownership costs, which call for disciplined leasing strategy and unit positioning to maintain pricing power.
- Strong neighborhood occupancy and competitive standing within the Visalia metro support stable rent rolls.
- Expanding 3‑mile population and household counts indicate a larger tenant base and support lease-up and renewal momentum.
- Moderate rent-to-income dynamics and everyday amenities (groceries, pharmacies, parks, dining) reinforce retention potential.
- Risk: lower average school ratings may narrow appeal for some family households and warrant targeted marketing.
- Risk: relatively accessible ownership options can create competition; focus on operational execution and product positioning.