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Strong investor demand for smaller multifamily properties across the Central Valley is fueling quick sales and multiple offer competition, according to Dustin Ilic, a multifamily investment advisor with Visintainer Group.
Ilic was recently involved with two multifamily sales in Visalia and Fresno.
The Visalia property at 3220-3226 S. Villa St., a four-unit building constructed in 2017, received multiple offers, closed in 14 days and sold for $935,000.
Ilic said the location, newer construction and unit mix drove interest, noting that the two-bedroom, two-bath units with attached two-car garages feel more like single-family homes.
It is also exempt from California rent control for about seven years.
The Fresno property, a six-unit apartment complex on Augusta Street near Bullard Avenue sold for $950,000, also attracted local buyers.
Ilic said the property stood out because of its North Fresno location, townhome-style units and strong condition due to private ownership.
Both Visalia and Fresno properties were purchased by local investors looking for long-term holdings.
Looking ahead, Ilic said interest rates and rental rate trends will be key factors that shape multifamily investment activity throughout the rest of 2026.
“I’ll be watching interest rates very closely,” Ilic said. “It seems to be the biggest question mark that we have. It looks like the current interest rates are going to stay around this rate, or might increase, depending on what the Federal Reserve does. We’re also looking at where rental rates are going. I’m going to be watching rental rates pretty closely over the next six months, and that’s going to kind of determine where we end up at the end of the year.”
He said limited inventory and steady demand in well-located neighborhoods continue to support pricing in Fresno and Visalia, particularly for newer and well-maintained properties.