| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Poor |
| Demographics | 13th | Poor |
| Amenities | 33rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 450 W Barnard St, Blythe, CA, 92225, US |
| Region / Metro | Blythe |
| Year of Construction | 1992 |
| Units | 60 |
| Transaction Date | 2005-03-28 |
| Transaction Price | $3,800,000 |
| Buyer | HARBOUR VIEW LLC |
| Seller | WEST BAYFIELD 450 LLC |
450 W Barnard St Blythe Multifamily Investment
Neighborhood occupancy has held around the low-90% range and improved over the last five years, supporting stable leasing conditions according to WDSuite’s CRE market data. Renter-occupied housing is comparatively high for the area, pointing to a durable tenant base for a 60-unit asset.
Situated in Blythe within the Riverside–San Bernardino–Ontario metro, the property benefits from everyday convenience rather than destination amenities. Neighborhood grocery and pharmacy access ranks above many areas nationally, while restaurants are adequate but cafés and parks are limited. For investors, this mix suggests practical livability that can support retention even without a strong lifestyle draw.
The neighborhood’s occupancy rate is roughly in line with national norms but sits below the metro median (rank 696 out of 997 metro neighborhoods), indicating steady yet competitive conditions. Renter concentration is elevated nationally (75th percentile), signaling depth in the tenant pool and consistent multifamily demand. Median contract rents remain lower than many California markets, which can help manage affordability pressure and reduce turnover risk relative to higher-cost submarkets.
Vintage dynamics are favorable: the average neighborhood construction year skews older (1960s), while the subject asset was built in 1992. That positioning offers a competitive edge versus older stock, with potential to capture renters seeking more modern layouts; investors should still plan for selective system updates or cosmetic refresh to sustain competitiveness over the hold period.
Demographics aggregated within a 3-mile radius indicate recent population and household softness, but forecasts point to modest population growth and a notable increase in households over the next five years, alongside smaller average household size. For multifamily, that combination can translate into a larger tenant base and demand for rental units, supporting occupancy stability. Median home values are comparatively accessible for California, which can introduce some competition from ownership; however, rent-to-income levels suggest manageable affordability pressure, supporting leasing and renewal strategies.
Neighborhood safety trends are comparatively favorable versus national benchmarks, with overall crime sitting modestly better than the U.S. average (57th percentile). Within the metro, the area is competitive among Riverside–San Bernardino–Ontario neighborhoods (crime rank 280 of 997), indicating relatively stronger safety positioning than many peer neighborhoods.
Violent offenses are in the top quartile nationally (88th percentile), a positive indicator for resident comfort and lease retention. Property offenses also track better than national averages (76th percentile), though recent year-over-year data show an uptick in property-related incidents. Investors should account for standard security measures and lighting/visibility improvements in operating plans to maintain resident confidence.
This 60-unit, 1992-vintage asset offers a relative quality advantage over older neighborhood stock while operating in a renter-oriented area with stable occupancy. According to CRE market data from WDSuite, neighborhood occupancy has trended upward over five years and renter concentration is elevated, supporting depth of demand and lease-up resilience. Lower prevailing rents versus many California markets help manage affordability pressure and can aid renewal outcomes.
Demographics within a 3-mile radius show recent softness but forecast household growth and smaller household sizes, which can expand the renter pool and support steady absorption. Given median home values that are more accessible than coastal California, asset management should emphasize value and convenience to mitigate ownership competition, while targeted capex can enhance differentiation versus older properties.
- 1992 vintage outpositions older neighborhood stock; selective upgrades can drive competitiveness
- Renter concentration and steady occupancy underpin demand and leasing stability
- Manageable rent levels support retention and pricing discipline versus higher-cost CA markets
- 3-mile forecasts indicate renter pool expansion as households increase and sizes shrink
- Risk: more accessible ownership market and recent property-crime uptick warrant focused tenant value and security plans