Log In/Sign Up
Your email has been sent.
282 W Date Ave 16 Unit Apartment Building $1,840,000 ($115,000/Unit) 5.50% Cap Rate Porterville, CA 93257
Investment Highlights
- 16-UNIT VALUE-ADD APARTMENT OPPORTUNITY
- CENTRAL PORTERVILLE LOCATION
Executive Summary
Introducing a rare opportunity to acquire a 16-unit apartment community located in the heart of Porterville, California. Situated on West Date Street, this well-positioned property offers strong in-place income, long-term upside potential, and an exceptional central location just minutes from Highway 190, shopping centers, schools, and Porterville College.
Built in 1966, the property consists of sixteen single-story units featuring a desirable unit mix of eight 1-bedroom/1-bath units and eight 2-bedroom/1-bath units. The single-story layout enhances tenant appeal and reduces long-term maintenance compared to multi-story assets.
Income & Investment Potential
The property has historically offered affordable rental rates, making it highly attractive to the strong local workforce tenant base. With units economically priced, the asset presents clear upside potential through continued interior upgrades and rent optimization to market levels.
Investors will appreciate:
Consistent rental demand due to affordability
Central infill location near employment, retail, and education
Proximity to Highway 190 for regional access
Stable workforce housing fundamentals
Opportunity to improve expense efficiency and RUBS implementation potential (buyer to verify)
Built in 1966, the property consists of sixteen single-story units featuring a desirable unit mix of eight 1-bedroom/1-bath units and eight 2-bedroom/1-bath units. The single-story layout enhances tenant appeal and reduces long-term maintenance compared to multi-story assets.
Income & Investment Potential
The property has historically offered affordable rental rates, making it highly attractive to the strong local workforce tenant base. With units economically priced, the asset presents clear upside potential through continued interior upgrades and rent optimization to market levels.
Investors will appreciate:
Consistent rental demand due to affordability
Central infill location near employment, retail, and education
Proximity to Highway 190 for regional access
Stable workforce housing fundamentals
Opportunity to improve expense efficiency and RUBS implementation potential (buyer to verify)
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$14,407
|
$6.26
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$14,407
|
$6.26
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $14,407 |
| Annual Per SF | $6.26 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $14,407 |
| Annual Per SF | $6.26 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $1,840,000 | Apartment Style | Garden |
| Price Per Unit | $115,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 5.50% | Building Size | 9,612 SF |
| Gross Rent Multiplier | 10.64 | Average Occupancy | 94% |
| No. Units | 16 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1966 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | RM-3 - Apartment house (5+ units) | ||
| Price | $1,840,000 |
| Price Per Unit | $115,000 |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| Gross Rent Multiplier | 10.64 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 9,612 SF |
| Average Occupancy | 94% |
| No. Stories | 1 |
| Year Built | 1966 |
| Opportunity Zone |
Yes |
| Zoning | RM-3 - Apartment house (5+ units) |
Amenities
Unit Amenities
- Washer/Dryer Hookup
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | 550 |
| 2+1 | 8 | - | 600 |
Property Taxes
| Parcel Number | 260-173-012-000 | Improvements Assessment | $1,428,000 |
| Land Assessment | $204,000 | Total Assessment | $1,632,000 |
Property Taxes
Parcel Number
260-173-012-000
Land Assessment
$204,000
Improvements Assessment
$1,428,000
Total Assessment
$1,632,000
1 of 12
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
282 W Date Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.