| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Fair |
| Demographics | 14th | Poor |
| Amenities | 39th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2312 W Dakota Ave, Fresno, CA, 93705, US |
| Region / Metro | Fresno |
| Year of Construction | 1983 |
| Units | 40 |
| Transaction Date | 2019-06-12 |
| Transaction Price | $3,325,000 |
| Buyer | MEGANOVA LP |
| Seller | HOWARD RONALD WAYNE |
2312 W Dakota Ave, Fresno CA — 40-Unit Multifamily Investment
Neighborhood occupancy trends are steady and above the Fresno metro median, supporting income durability for a 40-unit asset, according to WDSuite’s CRE market data. 1983 construction provides a competitively newer vintage for the area while leaving room for targeted modernization.
Situated in an Inner Suburb of Fresno, the neighborhood carries a C+ rating among 246 metro neighborhoods, indicating middle-of-the-pack performance with stable renter demand. Neighborhood occupancy is above the metro median and sits in the top quartile nationally, a constructive backdrop for maintaining leased-up conditions.
Local amenity density is mixed. Cafes score competitive among Fresno neighborhoods (ranked 30 of 246; high nationally), and restaurants are above the metro median, but immediate access to groceries, parks, and pharmacies is limited within the neighborhood itself. Investors should expect residents to rely on nearby corridors for daily needs, which may influence tenant retention features like parking and on-site conveniences.
Renter concentration is elevated for the neighborhood (renter-occupied share in the top decile nationally), which deepens the tenant base for multifamily. Median contract rents benchmark near the middle of national neighborhoods, while the neighborhood’s value-to-income positioning reflects a relatively high-cost ownership market; together, these dynamics generally support sustained rental demand and pricing power without overreliance on premium positioning.
Within a 3-mile radius, WDSuite data indicates modest recent population growth with a larger increase in households, implying smaller household sizes and a broader renter pool over time. Forward-looking projections call for additional population and household growth in the next five years, which can support leasing velocity and occupancy stability.
The average construction year in this neighborhood is 1977. With a 1983 vintage, the subject is somewhat newer than the local average, suggesting relative competitiveness versus older stock while still warranting selective system upgrades or common-area refreshes to strengthen positioning against comparable assets.
School ratings in the area trend below national norms, which may make family-focused amenities and unit mix strategy more important to maintain retention. Overall, performance metrics compare above the metro median in several renter-relevant categories, providing a pragmatic foundation for long-term operations.
Safety indicators for the neighborhood track below national averages overall, and the area ranks in the lower half among 246 Fresno metro neighborhoods. That said, WDSuite data shows a recent decline in estimated property offenses over the past year, signaling incremental improvement.
For investors, this calls for standard risk management: emphasize lighting, access controls, and resident engagement while monitoring trends relative to nearby Fresno submarkets. Use comparative leasing strategies that highlight on-site security and convenience to support resident retention.
Regional employment is anchored by food processing and related corporate services reachable by car, supporting workforce housing demand and commute convenience for tenants. Notable nearby employer:
- Con Agra Foods — food processing corporate offices (22.7 miles)
This 40-unit, 1983-vintage asset benefits from above-median neighborhood occupancy and an elevated renter-occupied share, pointing to a deep tenant base and stable leasing. According to CRE market data from WDSuite, ownership costs relative to incomes trend high for the area, which typically reinforces reliance on multifamily rentals and supports pricing resilience at mid-market rent levels.
Within a 3-mile radius, population has edged up while households increased more notably, and projections point to further growth over the next five years—supporting renter pool expansion and occupancy stability. The vintage is somewhat newer than the neighborhood average, providing relative competitiveness versus older stock, with potential to unlock value through targeted interior upgrades and common-area improvements.
- Above-median neighborhood occupancy and strong renter concentration support durable demand
- 1983 vintage newer than local average; scope for selective modernization to enhance rents
- High-cost ownership context bolsters multifamily reliance and pricing power
- 3-mile radius shows household growth and projected gains, supporting leasing stability
- Risks: below-average safety metrics and limited immediate groceries/parks; mitigate via security, amenities, and operations