| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Good |
| Demographics | 36th | Fair |
| Amenities | 71st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 123 N Buena Vista Ave, Corona, CA, 92882, US |
| Region / Metro | Corona |
| Year of Construction | 1985 |
| Units | 82 |
| Transaction Date | 2016-12-09 |
| Transaction Price | $13,750,000 |
| Buyer | Aventine 3 LLC |
| Seller | Mark Icarus LP, Private Investor, Ram Mittal, PCraicseh/ uEnqitu aivnadle /nsft |
123 N Buena Vista Ave Corona Multifamily Investment
Neighborhood fundamentals in Corona point to durable renter demand and steady occupancy, according to WDSuite s CRE market data. Elevated ownership costs in Riverside County support pricing power, while a balanced amenity mix offers day-to-day convenience for residents informed by disciplined commercial real estate analysis.
Corona s inner-suburban location offers everyday convenience with a solid mix of parks, pharmacies, groceries, and restaurants performing above national medians (parks and cafes near the 75th percentile). This amenity depth supports leasing appeal and helps sustain demand through cycles, based on CRE market data from WDSuite. Average school ratings are not available for this neighborhood, so underwriting should focus on commute access and local services in lieu of school performance signals.
The asset s 1985 vintage is older than the neighborhood s average construction year (1991), implying near- to mid-term capital planning for systems and common areas. For investors, this opens value-add potential to modernize interiors/exteriors and improve competitive positioning against newer stock while managing renovation scopes to protect in-place occupancy at the neighborhood level (currently around the national median).
Within a 3-mile radius, demographic data show a larger-family profile today with average household size elevated and a renter-occupied share near four in ten units. Looking ahead, projections indicate household growth alongside smaller household sizes, which typically expands the renter pool and supports occupancy stability. Income levels are rising in the 3-mile area, which can underpin rent growth capacity when paired with measured renewal strategies.
Home values in the neighborhood sit in a high-cost ownership market (above the 90th percentile nationally). For multifamily investors, this tends to reinforce renter reliance on apartments and bolster lease retention, even as elevated rent-to-income ratios call for careful lease management and renewal pacing. Neighborhood rents benchmark high versus national norms, which supports revenue but also argues for ongoing attention to affordability and resident retention tactics informed by multifamily property research.
Safety indicators are mixed but improving. Overall crime positioning is above the national median, suggesting comparatively better conditions than many U.S. neighborhoods, while property and violent categories sit closer to the national middle. Year over year, both property and violent offense estimates show meaningful declines, indicating positive momentum that can support resident retention and leasing stability if sustained.
As with any submarket-level assessment, investors should confirm trends over multiple periods and compare to peer neighborhoods across the Riverside San Bernardino Ontario metro to contextualize underwriting assumptions and risk reserves.
Nearby employment nodes feature medical distribution, food manufacturing, environmental services, transportation, and title insurance operations that help sustain a broad renter base and commute convenience for workforce tenants.
- Mckesson Medical Surgical medical distribution (7.8 miles)
- General Mills food manufacturing (10.0 miles)
- Waste Management environmental services (10.5 miles)
- Ryder Vehicle Sales transportation & fleet services (13.2 miles)
- First American Financial title insurance (20.5 miles) HQ
This 82-unit, 1985-vintage property in Corona benefits from a high-cost ownership landscape that supports rental demand, an amenities mix that outperforms national medians, and proximity to diversified employers across logistics, food manufacturing, and healthcare distribution. Neighborhood rents and income trends point to revenue opportunity, while the property s older vintage creates a clear path for targeted value-add to enhance competitive standing versus newer stock.
According to CRE market data from WDSuite, the neighborhood s occupancy is near the national median with rents benchmarking high nationally, reinforcing the case for disciplined pricing and renewal strategies. Forward-looking 3-mile demographics indicate more households with smaller sizes, which typically expands the tenant base and supports occupancy stability as renovations are executed in phases.
- High-cost ownership market supports sustained renter demand and lease retention
- 1985 vintage offers practical value-add and systems modernization potential
- Amenity depth and employer access bolster leasing fundamentals and resident stickiness
- Demographic outlook: more households and smaller sizes can broaden the renter pool
- Risks: elevated rent-to-income ratios and mixed-but-improving safety metrics require careful lease and expense management