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 two-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.