| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Good |
| Demographics | 10th | Poor |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1215 D St, Corona, CA, 92882, US |
| Region / Metro | Corona |
| Year of Construction | 1987 |
| Units | 45 |
| Transaction Date | 2018-08-30 |
| Transaction Price | $9,000,000 |
| Buyer | Pi Properties 34 LLC |
| Seller | Corona Gardens Partners |
1215 D St, Corona 1987 Multifamily Investment
Neighborhood fundamentals point to steady renter demand and high occupancy in the immediate area, according to CRE market data from WDSuite. Focus is on consistent tenant depth rather than rapid growth, with location convenience supporting day-to-day leasing stability.
The property sits in an Urban Core neighborhood of Corona with a B+ rating and an occupancy environment that is above many peers in the metro. Neighborhood occupancy is strong (ranked 327 among 997 metro neighborhoods, placing it in the top quartile nationally), which supports day-to-day leasing stability for nearby multifamily assets. The share of housing units that are renter-occupied is high (ranked 37 of 997 and in the top national tier), implying a deep tenant base and durable demand across economic cycles.
Amenity access is a clear strength. Restaurant density is competitive at the metro level and in the 98th percentile nationally, with grocery access also strong (96th percentile). This mix typically supports retention and reduces friction for daily needs. Park access is limited within the neighborhood, which may modestly temper lifestyle appeal; owners can offset this through on-site common-area enhancements or partnerships with nearby private recreation.
Vintage matters for competitive positioning. With a 1987 construction year versus a neighborhood average around the early 1960s, the asset is newer than much of the local housing stock. That typically reduces near-term core system exposure while leaving room for targeted value-add updates (interiors, curb appeal, or energy efficiency) to differentiate against older comparables.
Within a 3-mile radius, demographics show a slightly lower population than five years ago, but average household size has trended higher historically and is projected to normalize, leading to an increase in households over the next five years. This points to a larger tenant base over time even with flat population, supporting occupancy and leasing velocity. Median contract rents in the neighborhood have risen over the last five years, and WDSuite’s multifamily property research indicates continued demand supported by a high-cost ownership market nearby.
Safety indicators are mixed when viewed against the region and nation. The neighborhood’s crime standing sits below the national middle (around the 40th percentile nationally), suggesting investors should plan for standard security measures and proactive property management. At the metro scale, its rank places it below stronger-performing areas among the 997 neighborhoods in Riverside–San Bernardino–Ontario.
Recent trend data show notable improvement in property offenses over the past year (among the stronger improvements metro-wide), while violent offense metrics remain weaker than national averages. Framing these together, risk management should focus on lighting, visibility, and resident engagement, recognizing that recent downshifts in property offenses can support retention if maintained.
Nearby employment is diversified across healthcare distribution, waste services, consumer goods, diversified industrials, and title/financial services, supporting a broad renter base and commute convenience for workforce housing. The following employers are within a commutable distance and help underpin local leasing.
- Mckesson Medical Surgical — healthcare distribution (7.5 miles)
- Waste Management — waste services (10.2 miles)
- General Mills — consumer goods (10.3 miles)
- United Technologies — diversified industrials (16.0 miles)
- First American Financial — title & financial services (20.0 miles) — HQ
This 45-unit, 1987-vintage asset offers relative competitiveness versus older neighborhood stock, with average unit sizes around 840 sq. ft. supporting practical floor plans for workforce tenants. Neighborhood occupancy is strong and the share of housing units that are renter-occupied is high, indicating a deep tenant pool and stable leasing conditions. Elevated home values locally and a higher value-to-income environment reinforce renter reliance on multifamily, which can support pricing power when paired with disciplined lease management and renewal strategies.
Within a 3-mile radius, household incomes have trended higher and are projected to continue rising, while households are expected to increase even as population remains relatively flat—expanding the renter pool and supporting occupancy stability. According to CRE market data from WDSuite, neighborhood rents and NOI per unit are competitive for the metro, and selective value-add (interiors, energy efficiency, curb appeal) could capture incremental demand. Key watch items include limited park access, mixed safety metrics, and rent-to-income ratios that call for thoughtful renewal and concession management.
- 1987 vintage offers competitive positioning versus older neighborhood stock with clear value-add pathways
- Strong neighborhood occupancy and high renter concentration support tenant depth and leasing stability
- High-cost ownership market underpins sustained rental demand and renewal pricing power
- 3-mile outlook shows rising incomes and more households, reinforcing the renter pool despite flat population
- Risks: limited park access, mixed safety rankings, and affordability pressure require active lease and asset management