| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Poor |
| Demographics | 24th | Fair |
| Amenities | 19th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2551 S Richelle Ave, Fresno, CA, 93725, US |
| Region / Metro | Fresno |
| Year of Construction | 2008 |
| Units | 65 |
| Transaction Date | 2007-05-03 |
| Transaction Price | $908,000 |
| Buyer | OPS VILLAS LP |
| Seller | CITY OF FRESNO |
2551 S Richelle Ave Fresno Multifamily Investment
Built in 2008 with 65 units, this asset benefits from competitive neighborhood occupancy and newer-vintage positioning, according to WDSuite’s CRE market data.
The property sits in an Inner Suburb of Fresno where neighborhood occupancy trends are competitive among Fresno neighborhoods (52 of 246) and in the top quartile nationally, based on WDSuite’s CRE market data. That backdrop supports lease-up and renewal stability for well-operated multifamily assets.
Livability is serviceable but amenity-light close in. Grocery access ranks above the metro median (100 of 246), while cafes, parks, and pharmacies are limited in the immediate area, so residents often rely on nearby corridors for daily needs. Average school ratings in the neighborhood are below national norms, which may matter for family-oriented leasing strategies.
Construction in the surrounding neighborhood skews older (average 1981), so a 2008-vintage community can compete well against older stock. Newer construction often reduces near-term capital needs and can support rent positioning, though investors should still plan for systems modernization and common-area refresh over a hold period.
Within a 3-mile radius, demographics indicate a growing renter base: population and household counts have increased recently and are projected to continue rising, with household sizes trending slightly smaller. Renter-occupied housing comprises roughly half of units within this radius, suggesting depth in the tenant pool and support for occupancy stability.
Ownership costs in this part of Fresno are more accessible than coastal California, which can create some competition with entry-level ownership. Even so, a rent-to-income ratio around 0.20 in the neighborhood points to manageable affordability pressure for renters, aiding lease retention and steady collections when paired with disciplined operations.
Safety metrics for the neighborhood are around the metro middle (crime rank 105 of 246) and roughly at or slightly better than the national midpoint, per WDSuite. Violent offense measures sit above the national median for safety (higher percentile indicates safer), while property offense measures are near the national midpoint.
Recent trends are mixed: WDSuite reports a notable one-year decrease in estimated property offenses, alongside a recent uptick in violent offense estimates. For investors, this argues for standard security practices and active property management, with attention to lighting, access control, and resident engagement. Always evaluate block-level conditions and recent comps during diligence.
Regional employment access is anchored by food processing and paper/packaging operations that broaden the blue-collar and logistics workforce, supporting renter demand from commuters.
- Con Agra Foods — food processing (23.5 miles)
- International Paper — paper & packaging (41.6 miles)
This 2008-built, 65-unit community offers a favorable blend of occupancy stability and competitive positioning versus older neighborhood stock. Neighborhood occupancy is competitive among Fresno neighborhoods and strong nationally, supporting steady cash flow potential when paired with effective leasing and renewals. According to CRE market data from WDSuite, a rent-to-income ratio near one-fifth suggests manageable affordability pressure, which can aid retention and collections.
Investor demand is additionally supported by a 3-mile radius showing recent and projected growth in households, a roughly even renter/owner split that deepens the tenant base, and grocery access above the metro median despite limited cafes and parks nearby. The primary watch items are amenity-light surroundings and below-average school ratings, which call for thoughtful marketing and resident services, plus standard security diligence given mixed safety trends.
- Competitive neighborhood occupancy supports leasing stability and renewals
- 2008 vintage competes well versus older local stock, with scoped capex for modernization
- 3-mile demographics point to a larger tenant base as households grow
- Rent-to-income near one-fifth indicates manageable affordability pressure aiding retention
- Risks: amenity-light area, below-average school ratings, and mixed recent safety trends