| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Poor |
| Demographics | 42nd | Good |
| Amenities | 48th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5059 W Wilson St, Banning, CA, 92220, US |
| Region / Metro | Banning |
| Year of Construction | 1986 |
| Units | 36 |
| Transaction Date | 2022-08-25 |
| Transaction Price | $12,250,000 |
| Buyer | SD PROPERTIES 007 LLC |
| Seller | BANNING WILSON GARDENS LLC |
5059 W Wilson St, Banning CA Multifamily Value-Add Play
Neighborhood occupancy sits near the metro median while renter concentration is modest; according to WDSuite’s CRE market data, steady household growth in the area supports durable multifamily demand. All neighborhood metrics referenced are for the neighborhood, not the property.
Banning’s suburban setting offers everyday conveniences with reliable access to groceries, pharmacies, and childcare, while cafes and park space are less dense locally. For investors, that mix points to practical livability that can support workforce housing, with fewer lifestyle amenities competing as primary demand drivers.
The neighborhood is rated B and ranks 423 out of 997 metro neighborhoods, placing it above the metro median and competitive among Riverside–San Bernardino–Ontario submarkets. Neighborhood occupancy trends sit around the national middle, suggesting stable leasing conditions rather than outlier volatility, based on CRE market data from WDSuite.
Ownership costs are relatively elevated for the region (home values sit above the national mid-point), which tends to reinforce reliance on rental housing and can aid lease retention and pricing power. Rent levels in the neighborhood also index above national norms, so operators should balance revenue management with local rent-to-income dynamics to sustain occupancy.
Within a 3-mile radius, population and household counts have expanded in recent years, with additional growth projected by 2028. A mostly owner-occupied housing stock creates a modest renter-occupied base, but a larger pool of higher-income households and ongoing household formation can broaden the tenant pipeline and support steady absorption for well-positioned properties.
Relative to U.S. neighborhoods, local safety indicators benchmark in the stronger range, with crime metrics in the higher national percentiles (safer than many peers) and an improving year-over-year trend. Within the metro, the neighborhood’s crime rank is among the better performers out of 997 neighborhoods, indicating a comparatively favorable safety profile rather than an outlier risk zone.
Investors should still underwrite to property-specific security features and management practices, but the area’s directionally positive safety posture can support leasing stability and renter retention compared to lower-ranked pockets in the region.
Proximity to regional corporate offices supports a commuter tenant base and can help retention through diverse employment options, including roles in consumer goods, energy infrastructure, waste services, and medical distribution.
- General Mills — consumer foods (18.5 miles)
- Kinder Morgan — energy infrastructure (26.5 miles)
- General Mills — consumer foods (35.1 miles)
- Waste Management — waste services (35.5 miles)
- Mckesson Medical Surgical — medical distribution (42.6 miles)
Built in 1986, the 36-unit asset presents classic value-add and capital planning angles versus the neighborhood’s newer average vintage. Neighborhood occupancy trends are steady and near the metro middle, while above-average home values and growing households point to a durable renter pipeline. Based on CRE market data from WDSuite, rent levels index above national norms, so disciplined affordability management can pair with targeted renovations to drive returns without overextending pricing.
Within a 3-mile radius, population and household counts have increased and are projected to continue rising, expanding the tenant base. The renter-occupied share is modest, but upward income trends and diversified regional employment should support absorption for well-maintained workforce units, with upside from thoughtful interior upgrades and operational efficiency.
- 1986 vintage offers value-add and CapEx opportunities versus newer neighborhood stock
- Neighborhood occupancy around the metro median supports leasing stability
- Elevated ownership costs and growing households reinforce multifamily demand and retention
- Revenue management upside with careful attention to local rent-to-income dynamics
- Risks: modest renter concentration and thinner lifestyle amenities require targeted marketing and finishes