| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Fair |
| Demographics | 11th | Poor |
| Amenities | 23rd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 456 E Nicolet St, Banning, CA, 92220, US |
| Region / Metro | Banning |
| Year of Construction | 2005 |
| Units | 81 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
456 E Nicolet St Banning Multifamily Investment
Workforce-oriented demand and a renter-occupied housing base above the metro median support steady leasing potential in the surrounding neighborhood, according to WDSuite’s CRE market data. A 2005 vintage positions the asset competitively versus older local stock while allowing room for targeted upgrades.
The property sits in Banning’s inner-suburban context within the Riverside–San Bernardino–Ontario metro. Neighborhood occupancy trends are around regional norms, while the share of renter-occupied units ranks above the metro median (218 of 997), indicating a deeper tenant base than many nearby areas. Median school ratings track below national norms, which may influence family-driven demand positioning and leasing strategy.
Local amenities are mixed: grocery access is competitive among metro neighborhoods (rank 438 of 997), and childcare coverage ranks favorably (rank 187 of 997), but cafes, restaurants, parks, and pharmacies are limited nearby. Investors should underwrite resident convenience accordingly and consider on-site programming and services to enhance retention.
Within a 3-mile radius, households have grown modestly in recent years even as population edged down, pointing to smaller household sizes and a gradually diversifying renter pool. Forward-looking projections show households continuing to rise while average household size declines, which can translate into a broader base of renters and support occupancy stability when paired with thoughtful unit mix and pricing. Home values are elevated relative to local incomes (high national percentile for value-to-income), reinforcing reliance on multifamily housing; rent-to-income levels indicate manageable affordability pressure that can aid lease retention. These takeaways reflect commercial real estate analysis validated by WDSuite’s data.
Vintage dynamics matter for competitive positioning: the subject’s 2005 construction is newer than the neighborhood’s average vintage (1965), which can help on curb appeal and functional layouts. Investors should still plan for mid-life system updates and selective renovations to maintain an edge over older stock and capture value-add upside.
Safety indicators are mixed when viewed across metro and national benchmarks. The neighborhood’s overall crime rank sits on the higher-exposure side within the Riverside–San Bernardino–Ontario metro (rank 125 of 997), suggesting investors should budget for security-conscious operations. At the same time, national percentiles point to comparatively better standing than many neighborhoods nationwide, with property offense measures in a stronger percentile and violent offense measures above average.
Recent trends also diverge: property-related incidents have decreased sharply year over year, while violent offense indicators moved higher. Operators can mitigate risk through lighting, access controls, and resident engagement, and should monitor citywide and neighborhood trends as part of ongoing asset management.
Regional employers within commuting distance support a broad workforce renter base, with logistics, energy infrastructure, and consumer goods providing diversified demand that can aid leasing stability.
- General Mills — consumer packaged goods (21.8 miles)
- Kinder Morgan — energy infrastructure (29.9 miles)
- Waste Management — environmental services (32.1 miles)
456 E Nicolet St offers 81 units with 2005 construction, a relative advantage versus the neighborhood’s older housing stock. The surrounding area shows a renter-occupied share above the metro median and household growth within a 3-mile radius, supporting a broader tenant base even as population growth is flat to modest. According to CRE market data from WDSuite, neighborhood occupancy trends track near regional norms, while value-to-income dynamics indicate a high-cost ownership environment that can sustain rental demand and aid pricing discipline.
Operational focus should emphasize retention through amenity programming and targeted renovations, as nearby service and lifestyle amenities are uneven and school ratings lag national averages. Security-conscious property management remains prudent given mixed safety signals at the metro level, even as certain national benchmarks appear favorable.
- 2005 vintage vs. older local stock supports competitive positioning with selective value-add potential
- Above-median renter concentration in the neighborhood deepens the tenant base and supports leasing
- Household growth and smaller household sizes within 3 miles point to renter pool expansion and occupancy stability
- Uneven amenities and mixed safety signals warrant active management and thoughtful underwriting