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$ 1,799,950
Est. payment /mo
Price Dropped by $40K
282 W Date Avenue Porterville, CA 93257
21 Beds
15 Baths
9,612 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 9,612 sqft
Price per Sqft $187
MLS Listing ID 240131
Bedrooms 21
Year Built 1966
Lot Size 0.600 Acres
Property Sub-Type Multi Family
Property Description
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 1960, 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. Property Highlights • 16 Total Units 8 One-Bedroom / One-Bath 8 Two-Bedroom / One-Bath • Single-story construction • 16 on-site parking spaces • City water and sewer • Owner currently pays water and garbage • Gas wall heaters and evaporative coolers • Modern composition shingle roof • Stucco exterior with significant exterior improvements completed Over the years, many of the units have been updated, and substantial work has been completed on the exterior, giving the property a clean, cohesive, and well-maintained appearance. The interior courtyard-style layout creates a functional community feel while maintaining privacy for residents. 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) Investment Summary 282-288 W. State Street represents a compelling opportunity to acquire a stabilized yet value-enhanced multifamily asset in one of Tulare County's established rental markets. With exterior improvements already completed and many units updated, an investor can step into an improved asset with remaining upside potential. This is an ideal acquisition for: • Investors seeking workforce housing • Buyers looking for steady cash flow with future rent growth • Portfolio expansion within Tulare County • 1031 exchange buyers targeting multifamily assets • Possible private loan assumption with 40% down payment (contact listing agent for details)
Location
State CA
County Tulare
Interior
Heating Wall Furnace
Cooling Evaporative Cooling
Laundry Gas Dryer Hookup, Outside, Washer Hookup
Exterior
Parking Features Asphalt
Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
View Y/N N
Roof Type Composition
Building
Story 1
Foundation Raised
Sewer Public Sewer
Listed by Gerardo Gonzalez • Century 21 Jordan-Link & Company