| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 22nd | Fair |
| Amenities | 23rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1776 W Olive Ave, Porterville, CA, 93257, US |
| Region / Metro | Porterville |
| Year of Construction | 1974 |
| Units | 43 |
| Transaction Date | 2004-07-14 |
| Transaction Price | $2,500,000 |
| Buyer | WESTERN JACK A |
| Seller | BJL PROPERTIES VII LLC |
1776 W Olive Ave, Porterville CA Multifamily Investment
Neighborhood occupancy trends are competitive in the Visalia metro and support stable operations for a 43-unit asset, according to WDSuite’s CRE market data. This concise commercial real estate analysis points to a durable renter base and measured rent positioning relative to local incomes.
Located in an inner-suburb pocket of Porterville, the neighborhood shows a B- rating and sits near the middle of the Visalia, CA metro pack (ranked 73 out of 142 neighborhoods). Occupancy in the neighborhood is competitive among Visalia neighborhoods (ranked 32 of 142) and sits in the top quartile nationally, suggesting resilient leasing conditions for multifamily investors.
Livability is anchored by everyday retail rather than destination amenities. Grocery access is a relative strength within the metro (ranked 21 of 142), while restaurants are competitive among Visalia neighborhoods (ranked 51 of 142). Cafés, parks, and pharmacies are sparse in this immediate area, so resident convenience skews toward essentials over lifestyle options.
School ratings in the neighborhood average below national norms, which can influence tenant profiles toward workforce households seeking value and proximity to daily needs. Median home values are elevated relative to local incomes (value-to-income ratio ranks in a higher national percentile), which typically sustains reliance on rental housing and can support retention and pricing discipline for well-managed properties.
Tenure patterns indicate a meaningful renter base: the share of housing units that are renter-occupied in the neighborhood is around two-fifths, pointing to depth for multifamily demand rather than a purely ownership-driven area. Within a 3-mile radius, WDSuite’s data shows recent population growth with a projected increase ahead, alongside a rising household count; this combination generally supports a larger tenant base and occupancy stability over the medium term.
Comparable, neighborhood-level crime statistics were not available in this dataset. Investors typically benchmark safety by comparing neighborhood trends to city and metro patterns and by reviewing recent municipal reports and property-level security practices. This approach helps anchor underwriting assumptions to observable regional context without over-extrapolating block-level conclusions.
Regional employment is diversified across industrial and logistics, which supports workforce housing demand and commute convenience for renters who prioritize value. Notable nearby employer:
- International Paper — paper & packaging (17.7 miles)
Built in 1974, the property is slightly newer than the average neighborhood vintage, providing a competitive edge versus older stock while still offering potential value-add through selective renovations and systems modernization. Neighborhood occupancy sits among the stronger cohorts in the Visalia metro and in the top quartile nationally, indicating a supportive backdrop for leasing and renewal performance. According to CRE market data from WDSuite, local home values relative to incomes tend to reinforce renter reliance on multifamily housing, which can aid pricing discipline when paired with prudent lease management.
Within a 3-mile radius, population and households have grown and are projected to expand further, signaling a larger tenant base and sustained demand. Rents in the neighborhood remain aligned with local incomes, which helps manage affordability pressure and supports occupancy stability for well-positioned assets.
- Competitive neighborhood occupancy trends support stable leasing
- 1974 vintage offers light value-add and modernization upside
- Home values vs. incomes reinforce rental demand and retention
- 3-mile radius shows growing population and household counts, expanding the renter pool
- Risks: thinner lifestyle amenities and lower school ratings may narrow target renter segments