Sequoia Village 424 S E St Immeuble residentiel 64 lots À vendre Porterville, CA 93257

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.