| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Fair |
| Demographics | 19th | Poor |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 380 W Barbour St, Banning, CA, 92220, US |
| Region / Metro | Banning |
| Year of Construction | 1987 |
| Units | 80 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
380 W Barbour St Banning Multifamily Investment
This 80-unit property built in 1987 is positioned in a neighborhood with 96.4% occupancy and declining crime rates. According to CRE market data from WDSuite, the area shows rental demand stability despite limited amenities.
This inner suburb neighborhood ranks in the top quartile nationally for crime safety (20th among 997 metro neighborhoods) with property crime rates declining 57.5% year-over-year. The area maintains 96.4% occupancy rates, ranking in the 80th percentile nationally, indicating strong rental demand fundamentals despite limited retail amenities.
Built in 1987, this property aligns with the neighborhood's average construction year of 1966, suggesting potential value-add opportunities through strategic renovations and unit upgrades. The area's 37.4% share of renter-occupied housing units ranks in the 77th percentile nationally, supporting sustained multifamily demand.
Demographics within a 3-mile radius show a stable tenant base with 20,681 residents and modest population growth of 0.7% over five years. Median household income of $54,243 has grown 37.8% recently, while contract rents at $1,076 represent reasonable affordability ratios. However, limited amenity density with minimal retail and dining options may impact tenant retention compared to more amenity-rich submarkets.
The neighborhood's rent-to-income ratio of 0.20 ranks favorably in the 28th percentile, indicating manageable housing costs that support lease renewal rates. Forward-looking projections suggest continued household formation with a 36.8% increase in households expected through 2028, potentially expanding the local renter pool.
The neighborhood demonstrates strong safety metrics relative to the broader Riverside-San Bernardino metro area. With a crime rank of 20th among 997 metro neighborhoods and an 81st percentile national safety rating, this area significantly outperforms regional averages.
Property crime trends show marked improvement, with rates declining 57.5% year-over-year and ranking in the 91st percentile nationally for crime reduction. Violent crime rates also decreased 35.5% annually, placing the neighborhood in the 78th percentile for violent crime improvement trends. These positive safety trajectories support tenant retention and property value stability.
Regional employment is anchored by established corporate offices within commuting distance, providing workforce housing opportunities for professional tenants.
- General Mills — food manufacturing (21.1 miles)
- Kinder Morgan — energy infrastructure (29.7 miles)
- Waste Management — environmental services (32.3 miles)
This 80-unit property offers value-add potential in a stabilizing neighborhood with strong occupancy fundamentals. Built in 1987, the asset presents renovation opportunities to capture rent growth in a market where contract rents have increased 30.5% over five years. The area's 96.4% occupancy rate and top-quartile safety ranking provide a foundation for stable cash flows while demographic projections show household growth supporting future demand.
According to multifamily property research from WDSuite, the neighborhood's declining crime rates and reasonable rent-to-income ratios create favorable conditions for tenant retention. However, investors should consider the limited amenity infrastructure and monitor competition from nearby ownership options given the area's moderate home values.
- Strong occupancy at 96.4% with 80th percentile national ranking
- Value-add opportunity through renovations of 1987-vintage units
- Improving safety trends with 57.5% decline in property crime
- Projected 36.8% household growth through 2028 supporting demand
- Risk: Limited amenities may impact tenant retention versus competing properties