| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Good |
| Demographics | 50th | Best |
| Amenities | 15th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 870 N Plano St, Porterville, CA, 93257, US |
| Region / Metro | Porterville |
| Year of Construction | 1995 |
| Units | 60 |
| Transaction Date | 2018-12-12 |
| Transaction Price | $3,000,000 |
| Buyer | VB CDT MOUNTAIN VIEW LP |
| Seller | PORTERVILLE MOUNTAIN VIEW LIMITED |
870 N Plano St Porterville Multifamily Investment
Neighborhood fundamentals point to steady renter demand and balanced pricing, with occupancy measured at the neighborhood level rather than the property, according to WDSuite’s CRE market data.
The property sits in a suburban Porterville location that is competitive among Visalia, CA metro neighborhoods, with the area’s overall neighborhood rating ranked 35th out of 142. Local amenities are mixed: parks access is top quartile among the 142 metro neighborhoods, while restaurant density tracks below the metro median and cafes, groceries, and pharmacies are sparse. For investors, this mix suggests quiet residential appeal with fewer nearby retail draws, which can support retention for residents prioritizing residential stability over nightlife.
Renter demand indicators are balanced. Neighborhood median rents are around the national midpoint, and neighborhood occupancy trends sit near national medians as well, supporting underwriting that assumes stable, not speculative, absorption. The share of housing units that are renter-occupied in the neighborhood indicates a moderate renter concentration, implying a reasonable tenant base for a 60‑unit asset without overreliance on transient demand.
Within a 3‑mile radius, population and household counts have grown in recent years and are projected to continue rising, pointing to a larger tenant base and support for occupancy stability. Household sizes are edging lower over time, which can increase demand for multifamily units relative to larger single‑family options. These demographic dynamics, based on WDSuite data, align with steady leasing fundamentals rather than outsized volatility.
Vintage also supports competitive positioning: built in 1995 versus a neighborhood average construction year of 1987 (ranked above metro median nationally), the asset is newer than much of the surrounding stock. That can help on leasing and operational competitiveness versus older comparables, while still warranting capital planning for aging systems and selective modernization.
Comparable crime benchmarks for this neighborhood are not available in the current dataset. Investors often contextualize safety by reviewing city and county trendlines alongside property-level history and on-site management practices. A practical approach is to compare recent trend data to broader Visalia metro patterns and to prioritize standard diligence such as daylight and evening site visits.
Employment access skews toward regional industrial and office nodes that can support workforce housing demand for commuting renters. Nearby representation includes paper and packaging corporate operations.
- International Paper — paper & packaging corporate offices (18.0 miles)
This 60‑unit, 1995‑built asset offers a pragmatic value proposition: neighborhood rents and occupancy track near national medians, and the surrounding stock skews older, giving a newer‑than‑average competitive edge for leasing. Population and household growth within a 3‑mile radius point to a larger tenant base and support for occupancy stability, while a high‑cost ownership backdrop in the metro (elevated home values compared with national percentiles) helps sustain reliance on rental housing. According to CRE market data from WDSuite, the neighborhood ranks competitively within the Visalia metro on several fundamentals, suggesting steady, not speculative, performance potential.
Key considerations include modest retail and service density near the asset and the need for thoughtful capital planning as building systems age. These factors argue for disciplined underwriting, targeting operational efficiencies and selective renovations to capture incremental rent and retention without assuming outsized growth.
- Newer vintage versus neighborhood average supports competitive positioning and leasing
- Neighborhood rents and occupancy near national medians favor stable underwriting
- 3‑mile population and household growth expands the local renter pool
- High‑cost ownership context helps sustain multifamily demand and retention
- Risks: thinner nearby amenities and aging systems require proactive asset management