| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 37th | Good |
| Amenities | 38th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1500 N Prospect St, Porterville, CA, 93257, US |
| Region / Metro | Porterville |
| Year of Construction | 1982 |
| Units | 51 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1500 N Prospect St, Porterville CA Multifamily Investment
Neighborhood occupancy near 95.7% sits in the top quartile nationally, pointing to leasing stability for well-positioned units, according to WDSuite’s CRE market data.
Situated in Porterville’s inner-suburban context within the Visalia metro, the neighborhood carries an A- rating and ranks 31 out of 142 metro neighborhoods, indicating performance above the metro median. Occupancy of 95.7% places the area in the top quartile nationally, a favorable backdrop for minimizing downtime between turns and supporting steady collections for stabilized assets.
Livability signals are mixed but serviceable for workforce renters. Restaurants per square mile rank 24 of 142 (top quartile locally; 79th percentile nationally), and pharmacies rank 12 of 142 (86th percentile nationally), while parks and cafes are sparse (both rank 142 of 142). For investors, this suggests daily conveniences are accessible, though lifestyle amenities are thinner than core urban submarkets — a trade-off consistent with value-oriented housing.
School quality averages 3.0 out of 5 and ranks 6 of 142 (61st percentile nationally), which is competitive among Visalia neighborhoods. Home values sit in the 65th percentile nationally, indicating a relatively high-cost ownership market for the area; this tends to reinforce renter reliance on multifamily housing and can support retention. The rent-to-income ratio at the neighborhood level is around 0.15, implying manageable affordability pressure that can aid lease renewals, though vigilant lease management remains prudent.
Demographic statistics within a 3-mile radius show recent population growth and a notable increase in households, with forecasts pointing to further renter pool expansion over the next five years. Rising household incomes alongside projected rent growth suggest continued demand for professionally managed units; investors should pair this commercial real estate analysis with property-level operations to align pricing and finish levels with local purchasing power.
Comparable neighborhood-level crime data are not available in WDSuite for this location, so investors typically benchmark city and county sources and review multi-year trends for context. A prudent approach is to compare the neighborhood’s trajectory to broader Visalia-area patterns and to incorporate property-specific measures (lighting, access control, and visibility) into underwriting assumptions.
The regional employment base features manufacturing and logistics roles that can support workforce housing demand and commute convenience, including International Paper.
- International Paper — paper products manufacturing (16.3 miles)
Built in 1982, the asset is slightly newer than the neighborhood’s average vintage of 1978, offering relative competitiveness versus older stock while still leaving room for targeted modernization where systems have aged. Occupancy in the immediate neighborhood is strong by national standards, and within a 3-mile radius both population and household counts have grown with forecasts indicating continued expansion — a setup that supports a larger tenant base and steadier leasing. According to CRE market data from WDSuite, elevated home values compared with local incomes help sustain rental demand, and a rent-to-income profile near 0.15 suggests manageable affordability pressure that can aid retention when paired with disciplined renewals.
Investors should weigh amenity gaps (limited parks and cafes) and a thinner roster of large anchor employers in the immediate vicinity against the area’s occupancy stability, household growth, and the opportunity for value-add execution. Renovation or repositioning can target durable finishes and operational efficiency to align with rising incomes while maintaining attainability for the workforce renter segment.
- Strong neighborhood occupancy supports leasing stability and collections
- 1982 vintage offers value-add potential with competitive positioning vs. older stock
- 3-mile population and household growth expand the renter pool and demand depth
- Elevated ownership costs reinforce multifamily demand and retention potential
- Risks: limited lifestyle amenities nearby and fewer large anchors within short commute