Log In/Sign Up
Your email has been sent.
Sequoia Village 424 S E St 64 Unit Apartment Building For Sale Porterville, CA 93257
EXECUTIVE SUMMARY
Sequoia Village at River’s Edge is a 64-unit Low-Income Housing Tax Credit (LIHTC) family housing property
prominently situated at 424 S E Street in Porterville, California. Located in the heart of Tulare County’s agriculturally
vibrant Central Valley, the property has been operational since 2007, providing quality affordable housing designed
to meet the needs of working families in the region. The property comprises a diverse unit mix, offering one bedroom
through four-bedroom apartments to accommodate a variety of household sizes. Income restrictions target
households earning at or below 60% of the Area Median Income (AMI).
Occupancy for YE 2024 at the property was robust at approximately 98%, demonstrating strong resident demand
and rent-roll stability. The proforma Net Operating Income (NOI) is projected at approximately $267,000. Regional
comparable transactions indicate a capitalization rate between 4.75% & 5.25%.
Porterville’s local economy, primarily driven by agriculture and related industries, bolsters the demand for affordable
workforce housing. The city’s strategic location near major state transportation routes enhances accessibility and
connectivity, benefiting both residents and property operations. Furthermore, Sequoia Village’s long-term affordability
covenants, regulatory compliance history, and consistent operational performance underline its stability and ongoing
attractiveness as a reliable investment opportunity in the affordable housing market.
prominently situated at 424 S E Street in Porterville, California. Located in the heart of Tulare County’s agriculturally
vibrant Central Valley, the property has been operational since 2007, providing quality affordable housing designed
to meet the needs of working families in the region. The property comprises a diverse unit mix, offering one bedroom
through four-bedroom apartments to accommodate a variety of household sizes. Income restrictions target
households earning at or below 60% of the Area Median Income (AMI).
Occupancy for YE 2024 at the property was robust at approximately 98%, demonstrating strong resident demand
and rent-roll stability. The proforma Net Operating Income (NOI) is projected at approximately $267,000. Regional
comparable transactions indicate a capitalization rate between 4.75% & 5.25%.
Porterville’s local economy, primarily driven by agriculture and related industries, bolsters the demand for affordable
workforce housing. The city’s strategic location near major state transportation routes enhances accessibility and
connectivity, benefiting both residents and property operations. Furthermore, Sequoia Village’s long-term affordability
covenants, regulatory compliance history, and consistent operational performance underline its stability and ongoing
attractiveness as a reliable investment opportunity in the affordable housing market.
DATA ROOM Click Here to Access
PROPERTY FACTS
| Sale Type | Investment | Building Size | 90,000 SF |
| No. Units | 64 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 2007 |
| Apartment Style | Garden | Parking Ratio | 1.04/1,000 SF |
| Building Class | B | Opportunity Zone |
Yes
|
| Lot Size | 4.45 AC |
| Sale Type | Investment |
| No. Units | 64 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 4.45 AC |
| Building Size | 90,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2007 |
| Parking Ratio | 1.04/1,000 SF |
| Opportunity Zone |
Yes |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Washer/Dryer Hookup
- Bay Window
- Refrigerator
- Oven
- Range
- Handrails
- Patio
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- Business Center
- Clubhouse
- Fitness Center
- Laundry Facilities
- Picnic Area
- Playground
- Property Manager on Site
- Grill
- Media Center/Movie Theatre
- Hearing Impaired Accessible
- Multi Use Room
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 24 | - | 904 |
| 3+2 | 32 | - | 1,215 |
| 4+2 | 8 | - | 1,401 |
1 1
PROPERTY TAXES
| Parcel Number | 260-260-008-000 | Improvements Assessment | $3,997,030 CAD |
| Land Assessment | $956,639 CAD | Total Assessment | $4,953,669 CAD |
PROPERTY TAXES
Parcel Number
260-260-008-000
Land Assessment
$956,639 CAD
Improvements Assessment
$3,997,030 CAD
Total Assessment
$4,953,669 CAD
1 of 10
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Sequoia Village | 424 S E St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.