| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 25th | Fair |
| Amenities | 26th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 450 W Springville Dr, Porterville, CA, 93257, US |
| Region / Metro | Porterville |
| Year of Construction | 1996 |
| Units | 100 |
| Transaction Date | 2012-11-19 |
| Transaction Price | $5,292,500 |
| Buyer | VILLA ROBLES HOUSING L P |
| Seller | PORTERVILLE AFFORDABLE HOUSING L P |
450 W Springville Dr Porterville Multifamily Opportunity
Neighborhood occupancy runs strong, supporting stable leasing dynamics for a 100-unit asset, according to WDSuite’s CRE market data for the surrounding area—not the property itself.
Located in Porterville within the Visalia, CA metro, the neighborhood carries a B rating and is competitive among Visalia neighborhoods (ranked 65 out of 142). Neighborhood occupancy is in the top quartile nationally and above the metro median (ranked 19 of 142; 94th national percentile), a constructive backdrop for sustaining rent rolls and mitigating downtime between turns.
Housing stock in the area skews older (average vintage 1962; rank 103 of 142), while the subject 3 1996 construction provides relative competitiveness versus nearby legacy assets. For investors, the 1996 vintage suggests selective modernization and systems updates rather than full-scope repositioning to maintain leasing velocity against older comparables.
Within a 3-mile radius, WDSuite ds data shows population growth and a notable increase in households, pointing to a larger tenant base over the next few years. Renter-occupied housing makes up roughly half of units locally, indicating depth in the renter pool and a consistent demand channel for multifamily. Median rent-to-income sits near 0.19, which supports lease management strategies with measured pricing power while monitoring affordability pressure.
Local fundamentals are balanced: grocery access is a relative strength (75th national percentile; rank 32 of 142), and restaurant density tests well (81st percentile; rank 21 of 142), while park, pharmacy, and cafe density are thinner. Average school ratings trend slightly above national median (3.0 average; 61st percentile), which can support family retention and longer tenancy for larger floor plans.
Home values and the value-to-income ratio score higher than many U.S. neighborhoods (national percentile 74 for value-to-income), indicating a high-cost ownership market relative to local incomes. In practice, this tends to reinforce reliance on rental housing and can aid lease retention and occupancy stability for well-managed multifamily assets.
Comparable neighborhood crime benchmarks are not available in WDSuite ds current dataset for this area. Investors should underwrite safety using city-level trends, recent police reports, and property-level measures (lighting, access control, and onsite management practices), and consider how these factors influence retention and insurance costs over hold periods.
Regional employment is diversified, with manufacturing and industrial employers within commuting range that can support workforce housing demand and leasing stability. The list below highlights a nearby anchor relevant to this renter base.
- International Paper manufacturing & packaging (19.0 miles)
This 100-unit, 1996-vintage asset combines relative vintage advantage over an older local stock with neighborhood occupancy that trends in the top quartile nationally. Larger average floor plans can enhance tenant satisfaction and renewal prospects, while a renter base that represents roughly half of local housing units supports demand depth. Based on commercial real estate analysis from WDSuite, the surrounding neighborhood ds occupancy outperforms metro medians, suggesting favorable leasing conditions for stabilized operations.
Within a 3-mile radius, population growth and an increase in households point to a larger tenant pool ahead. Higher value-to-income ratios versus national norms suggest a high-cost ownership backdrop, which typically sustains renter reliance on multifamily housing. The primary watch items are thinner neighborhood amenities in certain categories and commute dependence on regional job nodes, both manageable with prudent underwriting and resident experience initiatives.
- Neighborhood occupancy ranks in the top quartile nationally, supporting stable leasing conditions.
- 1996 vintage offers competitive positioning versus older area stock with targeted modernization potential.
- Larger average unit sizes can bolster renewal rates and support family-oriented demand.
- High-cost ownership context reinforces renter reliance, aiding occupancy and pricing power.
- Risks: thinner amenity density in select categories and commute dependence on regional employers.