| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 22nd | Fair |
| Amenities | 23rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 45 Salisbury St, Porterville, CA, 93257, US |
| Region / Metro | Porterville |
| Year of Construction | 1979 |
| Units | 64 |
| Transaction Date | 2007-09-24 |
| Transaction Price | $976,500 |
| Buyer | AETW GROUP |
| Seller | ALDER APTS |
45 Salisbury St, Porterville Multifamily Opportunity
Neighborhood metrics point to steady renter demand and high occupancy for this 64-unit asset, according to WDSuite’s CRE market data for the Visalia metro. Focus is on occupancy stability and tenant depth at the neighborhood level, not the property.
Located in Porterville’s inner-suburb fabric of the Visalia, CA metro, the neighborhood rates B- and shows durable fundamentals for workforce rentals. Neighborhood occupancy is strong and ranks 32 out of 142 metro neighborhoods (85th percentile nationally), indicating competitive performance among Visalia submarkets and supporting stable lease-up and retention, per WDSuite.
Renter-occupied housing makes up a meaningful share of neighborhood units (42.2%), placing the area above many U.S. neighborhoods (82nd percentile). For multifamily owners, this signals a deeper tenant pool and generally consistent demand through cycles, though leasing still hinges on property quality and management execution.
Livability is anchored by everyday convenience more than lifestyle amenities. Grocery availability is a relative strength (ranked 21 of 142 locally; high national percentile), while parks, pharmacies, cafes, and childcare are thinner. Average school ratings in the neighborhood are below metro norms, which may moderate appeal for some family renters; operators should tailor unit mix and services accordingly.
Within a 3-mile radius, population and households have grown in recent years and are projected to continue expanding, pointing to a larger tenant base over time. Household sizes are trending smaller, which can support sustained demand for apartment units. Home values in the neighborhood sit in a higher national percentile relative to incomes, suggesting a high-cost ownership market that can reinforce reliance on rentals. Rent-to-income measures remain comparatively manageable, which supports lease retention while allowing for disciplined revenue management.
Comparable metro crime rankings are not available for this neighborhood in the current WDSuite release. Investors typically benchmark neighborhood safety against city and county trends and weigh property-level measures (lighting, access control, on-site management) alongside local policing initiatives. Given strong neighborhood occupancy, many owners prioritize maintaining visible security standards to support tenant retention and operational stability.
The area’s employment base includes regional manufacturing that supports workforce housing demand and commute convenience for renters noted below.
- International Paper — paper & packaging manufacturing (17.7 miles)
This 1979-vintage, 64-unit property aligns with a neighborhood that posts strong occupancy and a sizable renter-occupied share, indicating stable demand drivers relative to the Visalia metro. Based on commercial real estate analysis from WDSuite, neighborhood occupancy stands above the metro median and in a high national percentile, while ownership costs in the area skew elevated relative to incomes, reinforcing multifamily’s role for local households.
The 1979 construction is newer than the neighborhood’s average vintage, offering competitive positioning versus older stock; investors should still plan for ongoing system upgrades or targeted value-add to meet renter expectations. Three-mile demographic trends show population and household growth with gradually smaller household sizes, which can expand the renter pool and support occupancy stability over the hold period.
- High neighborhood occupancy supports leasing stability, per WDSuite’s CRE market data
- Sizable renter-occupied share indicates depth of tenant demand
- 1979 vintage is competitively newer than local average, with targeted modernization upside
- Three-mile population and household growth expand the renter pool over time
- Risks: thinner lifestyle amenities and below-average school ratings may limit some family-driven demand