$1,140,000
SOLD MAY 15, 2025

2373 E Springville Ave Porterville, CA 93257

Porterville Southeast Neighborhood
18 Beds
15 Baths
7,500 Sq Ft
0.87 Acres

Recently Sold

$152 Per Sq Ft

5% Below List Price

13 Days on Market

Highlights

  • 0.87 Acre Lot
  • Forced Air Heating and Cooling System
  • 1-Story Property
  • No HOA

About This Home

As of May 2025

Great investment opportunity! Well maintained 10 unit apartment complex, comprised of 5 separate duplexes on one APN at approximately 0.87 acres. There are five - 2 bedroom, 2 bath units, four - 2 bedroom, 1 bath units and one - 1 bedroom, 1 bath unit. One of the duplexes was built first and then at a much later time the other four duplexes were built. Four of the duplexes have brand new roofs and all five of the duplexes will have new paint on the exterior (2 exteriors have been painted already). Seller has been raising rents but is still low on several of them. Included in the income is $500 for utility reimbursement. The current CAP Rate is app. 6.47%, but the potential CAP Rate could be much higher with increased rents, which makes this a very good investment now as well as in the future. Make this the investment opportunity that you have been waiting for!

Last Agent to Sell the Property

Mike Brown

Melson Realty, Inc. License #00686133 Listed on: 03/15/2025

Last Buyer's Agent

Mike Brown

Melson Realty, Inc. License #00686133 Listed on: 03/15/2025

Property Details

Home Type

  • Multi-Family

Lot Details

  • 0.87 Acre Lot

Parking

  • No Garage

Home Design

  • Composition Roof

Interior Spaces

  • 7,500 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 18 Bedrooms
  • 15 Bathrooms

Utilities

  • Forced Air Heating and Cooling System
  • Evaporated cooling system
  • Wall Furnace
  • Natural Gas Connected
  • Private Sewer

Community Details

  • No Home Owners Association
  • Operating Expense $3,463

Listing and Financial Details

  • Assessor Parcel Number 263130025000

Property Details

Home Type

Multi-Family

Lot Details

0

Listing Details

  • Property Sub Type: 5+ Units
  • Prop. Type: Residential Income
  • Lot Size Acres: 0.87
  • Lot Size: Irregular
  • Directions: From the corner of Plano and Date Avenue, go east on Date until it becomes Springville Avenue, then go further east on Springville Avenue until you come to subject property on the south side of the road.
  • Garage Yn: No
  • New Construction: No
  • Building Stories: 1
  • Year Built: 1000
  • ResoBuildingAreaSource: PublicRecords
  • Special Features: None
  • Stories: 1

Interior Features

  • Total Bedrooms: 18

Exterior Features

  • Pool Private: No
  • Roof: Composition

Garage/Parking

  • General Information:Garage: No

Utilities

  • Cooling: Central Air, Evaporative Cooling
  • Heating: Forced Air, Wall Furnace
  • Sewer: Private Sewer
  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Water Source: Public
  • Heating:Forced Air: Yes
  • Heating:Wall Furnace: Yes

Condo/Co-op/Association

  • Association: No

Lot Info

  • Lot Size Sq Ft: 38089.0
  • Additional Parcels: No
  • Parcel #: 263130025000
  • ResoLotSizeUnits: Acres

Multi Family

  • Number Of Units Total: 10
  • Annual Operating Expense: 3463.0

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/15/2025 05/15/25 Sold $1,140,000 -5.0% $152 / Sq Ft
03/28/2025 03/28/25 Pending -- -- --
03/15/2025 03/15/25 For Sale $1,200,000 +50.5% $160 / Sq Ft
02/14/2024 02/14/24 Sold $797,500 0.0% $106 / Sq Ft
12/13/2023 12/13/23 Pending -- -- --
12/12/2023 12/12/23 For Sale $797,500 -- $106 / Sq Ft
Source: Tulare County MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Mike Brown

    Seller's Agent in 2025

    Mike Brown

    Melson Realty, Inc.

    (559) 359-4657

    11 in this area

    66 Total Sales

    Mike Brown
    Section Image
  • Gerardo Gonzalez

    Seller's Agent in 2024

    Gerardo Gonzalez

    Century 21 Jordan-Link/Porterville Morton 878

    (559) 310-4500

    1 in this area

    12 Total Sales

    Gerardo Gonzalez
    Section Image
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Map

Source: Tulare County MLS

MLS Number: 234045

Tulare County MLS
California Tulare County Porterville 93257 Porterville Southeast

2373 E Springville Ave, Porterville, CA

This home is located at 2373 E Springville Ave, Porterville, CA 93257 and is currently priced at $1,140,000, approximately $152 per square foot. 2373 E Springville Ave is a home located in Tulare County with nearby schools including Alta Vista Elementary School, Granite Hills High School, and Strathmore High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Tulare County MLS Based on information from the Tulare County Association of REALTORS®. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

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