| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 60th | Best |
| Amenities | 53rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2060 E Spruce Ave, Fresno, CA, 93720, US |
| Region / Metro | Fresno |
| Year of Construction | 1995 |
| Units | 100 |
| Transaction Date | 2019-03-21 |
| Transaction Price | $7,200,000 |
| Buyer | VB CDT MAPLEWOOD LP |
| Seller | FRESNO MAPLEWOOD LIMITED |
2060 E Spruce Ave Fresno Multifamily Investment
Neighborhood occupancy and renter demand are competitive among Fresno submarkets, according to WDSuite s CRE market data, supporting stable leasing dynamics for a 100-unit asset.
Situated in Fresno s inner suburb with an A neighborhood rating, the area around 2060 E Spruce Ave shows healthy renter demand and above-average occupancy for the metro. Neighborhood occupancy trends are strong and nationally in the top quartile, which typically supports cash flow durability and fewer lease-up gaps for multifamily owners.
Amenities skew toward daily needs over lifestyle retail: grocery access is stronger than average nationally while restaurants are comparatively dense, yet cafes and pharmacies are limited within the immediate neighborhood. Public schools average 4.0 out of 5 (top quartile nationally), a factor that can bolster retention for larger floorplan units and support longer tenancy.
Renter concentration in the neighborhood is higher than the national norm, indicating a deeper pool of renter-occupied housing units and a broader tenant base for multifamily assets. Median home values sit at elevated levels for the region, which tends to sustain reliance on rental housing and can reinforce pricing power during renewals without overextending on concessions.
Within a 3-mile radius, demographics indicate steady population growth in recent years with households expanding at a faster pace than population, implying smaller household sizes and a gradual broadening of the renter pool. Looking forward, forecasts point to additional population growth and a notable increase in households, which supports ongoing demand for rental units and occupancy stability.
The average construction year for nearby stock is 2005, while the subject property was built in 1995. The 10-year age gap suggests potential value-add through targeted interior updates and systems modernization, positioning the asset to compete effectively against newer stock while informing capital planning.
Safety indicators at the neighborhood level benchmark favorably versus many U.S. neighborhoods, with both overall and violent incident measures ranking in higher national percentiles. Recent trend data shows meaningful year-over-year improvement in estimated violent and property offense rates, which is constructive for resident retention and leasing stability. These comparisons reflect neighborhood-level conditions rather than block-specific readings and should be paired with onsite diligence.
The regional employment base includes food processing and corporate services, supporting commuting patterns that draw renters from across the Fresno metro.
- Con Agra Foods corporate offices (28.9 miles)
This 100-unit, 1995-vintage asset offers durable demand drivers backed by neighborhood fundamentals that are competitive for the Fresno metro. High neighborhood occupancy and a relatively large share of renter-occupied housing units support a stable tenant base. Elevated home values in the area reinforce renter reliance on multifamily housing, while rent-to-income levels around the mid-20% range point to manageable affordability pressure that can aid renewals and limit turnover. According to commercial real estate analysis from WDSuite, these factors collectively position the asset for steady performance relative to local peers.
The property s vintage, roughly a decade older than nearby stock on average, presents an avenue for value-add through interior upgrades and selective building systems updates that can enhance competitive positioning. Demographic trends within a 3-mile radius show population and household growth, expanding the prospective renter pool and supporting occupancy stability over the medium term. Key watchpoints include ongoing capital planning for an early-1990s build and the neighborhood s limited lifestyle amenities, which may necessitate targeted marketing and amenity programming.
- Competitive neighborhood occupancy and deeper renter pool support stable leasing
- Elevated ownership costs reinforce multifamily demand and pricing power
- 1995 vintage enables value-add via interior and systems modernization
- 3-mile demographics point to population and household growth, expanding the tenant base
- Risk: older systems may require capex; limited nearby lifestyle amenities could affect appeal