| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Good |
| Demographics | 10th | Poor |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 208 S Vicentia Ave, Corona, CA, 92882, US |
| Region / Metro | Corona |
| Year of Construction | 1989 |
| Units | 20 |
| Transaction Date | 2017-09-26 |
| Transaction Price | $3,400,000 |
| Buyer | HP FAMILY EDUCATION FUND LP |
| Seller | PL PROPERTIES NO 94 LLC |
208 S Vicentia Ave Corona Multifamily Investment
Neighborhood occupancy is high and renter demand is durable for this 20-unit 1989 asset in Corona, according to WDSuite’s CRE market data, supporting steady operations relative to the metro.
The property sits in Corona’s Urban Core, where neighborhood occupancy has held strong and is above many Riverside–San Bernardino submarkets. According to CRE market data from WDSuite, the neighborhood’s apartment occupancy is elevated, which helps underpin income stability for well-managed assets.
Daily-life amenities are a local strength: restaurants and grocery options score in the top tier nationally, indicating convenient access that supports leasing and retention. Park access is limited within the neighborhood footprint, so on-site community features can play a larger role in resident satisfaction.
Renter concentration in the neighborhood is high (share of housing units that are renter-occupied), which points to a deep tenant base for multifamily. Within a 3-mile radius, demographic statistics show median household incomes trending higher over the last five years and a projected increase in total households by 2028, suggesting a larger tenant base even as household sizes trend smaller.
Home values in the neighborhood rank high versus national peers, reflecting a higher-cost ownership market that can sustain reliance on rentals and support lease-up velocity. For investors, this dynamic—paired with solid amenity access—can translate into pricing power when units are well-finished and competitively marketed.
Neighborhood safety is mixed relative to the metro and nation. The area sits below the metro median on safety rankings among 997 Riverside–San Bernardino neighborhoods and below the national median overall. For underwriting, investors may weight visible security, lighting, and resident engagement to support retention.
Recent trend signals are nuanced: WDSuite data shows property crime estimates decreasing sharply year over year, while violent crime estimates increased over the same period. Framing this at the neighborhood level—not the property—suggests monitoring trends and prioritizing standard risk mitigations.
Proximity to regional employers supports workforce housing demand and commute convenience, notably from healthcare distribution, food manufacturing, environmental services, logistics, and aerospace/industrial offices listed below.
- Mckesson Medical Surgical — healthcare distribution (7.9 miles)
- General Mills — food manufacturing (10.2 miles)
- Waste Management — environmental services (10.6 miles)
- Ryder Vehicle Sales — logistics & fleet services (13.3 miles)
- United Technologies — aerospace/industrial offices (16.6 miles)
Built in 1989, the asset is newer than much of the surrounding housing stock, positioning it competitively versus older inventory while still offering potential value-add through modernization of interiors and building systems. According to CRE market data from WDSuite, the neighborhood posts elevated multifamily occupancy and strong amenity access, both of which support income durability when operations are disciplined.
Investor fundamentals are reinforced by a high-cost ownership landscape that sustains renter reliance on multifamily housing, a deep neighborhood renter-occupied share, and 3-mile demographics that indicate rising household incomes and a projected increase in total households—factors that can support tenant base growth and occupancy stability. Key watch items include below-median neighborhood safety and rent-to-income pressure that warrants attentive lease management.
- Elevated neighborhood occupancy supports steady collections and lower downtime.
- 1989 vintage offers competitive positioning with value-add potential via targeted upgrades.
- High-cost ownership market and strong amenity access reinforce multifamily demand and retention.
- 3-mile demographics point to rising incomes and more households, expanding the renter pool.
- Risks: below-metro safety standing and affordability pressure require proactive operations and security planning.