| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Good |
| Demographics | 26th | Good |
| Amenities | 51st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 854 W Grand Ave, Porterville, CA, 93257, US |
| Region / Metro | Porterville |
| Year of Construction | 1984 |
| Units | 29 |
| Transaction Date | 2005-05-16 |
| Transaction Price | $2,000,000 |
| Buyer | 554 W GRAND LLC |
| Seller | VOTA LLC |
854 W Grand Ave Porterville Multifamily Value-Add Potential
Stabilized neighborhood fundamentals and a renter base supported by local workforce demand position this 29-unit asset for steady operations, according to WDSuite’s CRE market data. Newer-than-area-average vintage provides competitive footing while leaving room for targeted upgrades.
The property sits in an Inner Suburb pocket of the Visalia, CA metro that ranks 30 out of 142 neighborhoods overall—placing it in the top quartile among metro peers. Neighborhood occupancy is in the mid-90s and has edged higher over the last five years, a backdrop that supports leasing stability and renewal potential based on CRE market data from WDSuite.
Renter-occupied housing accounts for roughly the low-40s share of neighborhood units, indicating a meaningful tenant base for multifamily owners without oversaturation. Within a 3-mile radius, households and families have grown in recent years, with WDSuite data pointing to continued population growth and additional household gains through the forecast period—implying a larger renter pool and support for occupancy.
Daily-needs access is a relative strength: park availability and childcare density rank competitively (both among the better-scoring areas in the metro), while grocery and restaurants are adequate for this suburban context. Café options and pharmacies are more limited locally, which may modestly affect walk-to convenience but is typical for lower-density nodes. Average school ratings trail national norms, which suggests family renters may prioritize value, unit size, or commute convenience over school performance in this micro-market.
Ownership costs are elevated relative to local incomes (value-to-income measures place the area among the stronger quartile of the Visalia metro and above many neighborhoods nationally). In practice, a high-cost ownership market tends to reinforce reliance on multifamily housing, supporting lease retention and pricing power when units are well-maintained and appropriately positioned.
Comparable, neighborhood-level safety metrics are not available for this location in the current release. Investors should review city and county trend data and on-the-ground observations to contextualize risk. A prudent approach is to benchmark the immediate area against nearby Visalia metro neighborhoods to assess relative positioning and any directional shifts rather than relying on block-level assumptions.
The tenant base is supported by regional industrial and office employment within commuting distance, offering a practical draw for workforce renters. Notable nearby employer:
- International Paper — packaging & paper manufacturing (17.5 miles)
Built in 1984, this 29-unit asset is newer than the area’s average housing stock, providing competitive positioning versus older properties while still allowing for targeted modernization to lift rents and reduce near-term CapEx surprises. Neighborhood occupancy sits in the mid-90s and has trended upward over five years; according to CRE market data from WDSuite, that backdrop supports steady leasing and renewal performance.
Within a 3-mile radius, population growth and a faster pace of household formation indicate renter pool expansion, enhancing depth of demand for well-kept units around average sizes for the area. Elevated ownership costs relative to income reinforce reliance on rentals, which can aid retention and measured pricing power when paired with thoughtful renovations and sound property management. Key watch items include limited café/pharmacy presence and below-average school ratings, which suggest marketing should emphasize value, access, and convenience to employment centers.
- 1984 vintage offers competitive positioning versus older stock, with selective upgrades to capture rent premiums
- Neighborhood occupancy in the mid-90s with a positive five-year trend supports leasing stability
- 3-mile radius shows population and household growth, expanding the renter demand base
- Elevated ownership costs versus income sustain rental reliance, aiding retention and pricing discipline
- Risks: limited café/pharmacy options and low school ratings may narrow certain renter segments