| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 14th | Poor |
| Amenities | 42nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1120 E Tulare Ave, Visalia, CA, 93292, US |
| Region / Metro | Visalia |
| Year of Construction | 2010 |
| Units | 43 |
| Transaction Date | 2005-05-31 |
| Transaction Price | $576,000 |
| Buyer | CHRISTIAN CHURCH HOMES OF NORTHERN CA |
| Seller | TWINPALMSDINUBA LLC |
1120 E Tulare Ave Visalia Multifamily Investment
This 43-unit property built in 2010 benefits from strong neighborhood occupancy rates of 98.7%, ranking in the top quartile among Visalia metro neighborhoods according to CRE market data from WDSuite.
Located in an inner suburb neighborhood with a B+ rating, this property sits in a market showing resilient fundamentals. The neighborhood ranks 21st out of 142 Visalia metro neighborhoods for occupancy rates, with 98.7% occupancy reflecting strong demand dynamics. With 59.5% of housing units being renter-occupied, this area maintains a substantial rental base that supports multifamily performance.
Demographic data aggregated within a 3-mile radius shows a population of approximately 77,400 with modest growth of 1.2% over the past five years. Household formation has increased 6.9% during the same period, indicating expanding renter demand. Median household income of $71,425 has grown 43.8% over five years, suggesting improved tenant quality and rent-paying capacity.
The property's 2010 construction year positions it as newer than the neighborhood average of 1965, potentially reducing near-term capital expenditure needs while maintaining competitive appeal. Median contract rents in the area have increased 30.2% to $1,061 over the past five years, demonstrating pricing power. The neighborhood benefits from strong grocery store access, ranking in the 85th national percentile for grocery density, which enhances tenant retention through convenience.
Forward-looking projections indicate continued household growth of 49.2% through 2028, with median rents expected to reach $1,513 - a 42.7% increase that suggests sustained rental demand and revenue potential for well-positioned properties.
Safety metrics for this neighborhood show moderate performance relative to other Visalia metro areas. Property crime rates rank 56th out of 142 neighborhoods, placing it in the 72nd national percentile - indicating better safety conditions than most neighborhoods nationwide. Violent crime rates rank 59th locally but fall in the 35th national percentile.
Notably, both property and violent crime rates have shown improving trends, with property offenses declining 5.3% and violent offenses dropping 27.1% over the past year. These downward trends in crime rates can support tenant retention and property values over time.
The area benefits from proximity to established corporate employers that provide workforce stability for rental demand.
- International Paper — manufacturing and corporate offices (6.0 miles)
This 43-unit property presents a compelling investment opportunity in Visalia's resilient rental market. Built in 2010, the asset benefits from newer construction relative to the neighborhood average, potentially reducing immediate capital needs while maintaining competitive positioning. The neighborhood's exceptional 98.7% occupancy rate ranks in the top quartile among 142 metro neighborhoods, indicating strong tenant demand and retention dynamics according to multifamily property research from WDSuite.
Demographic fundamentals support long-term performance, with household formation increasing 6.9% over five years and median incomes rising 43.8% to $71,425. Forward projections show household growth of 49.2% through 2028, expanding the potential tenant base. The 59.5% renter-occupied housing share provides a substantial rental market, while recent rent growth of 30.2% demonstrates pricing power in this inner suburb location.
- Top quartile occupancy performance at 98.7% indicates strong rental demand
- 2010 construction provides competitive positioning with reduced near-term capital needs
- Household income growth of 43.8% over five years supports rent growth potential
- Projected 49.2% household growth through 2028 expands tenant base
- Risk: Lower educational attainment (4% bachelor's degree rate) may limit tenant income growth