| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 35th | Fair |
| Amenities | 46th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 219 E Parkridge Ave, Corona, CA, 92879, US |
| Region / Metro | Corona |
| Year of Construction | 1984 |
| Units | 89 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
219 E Parkridge Ave Corona Multifamily Investment
Neighborhood occupancy trends sit in the top quartile nationally, supporting consistent renter demand according to WDSuite’s CRE market data.
Located in Corona’s inner suburb of Riverside County, the property benefits from a neighborhood rated B+ and performing above metro median on several housing fundamentals. Neighborhood occupancy is competitive nationally (top quartile), a constructive backdrop for lease stability and cash flow planning.
Everyday amenities are practical: grocery and pharmacy access score in the mid‑90s national percentiles, while restaurants are dense relative to peer areas. However, parks, cafes, and childcare options are limited within the immediate neighborhood, so resident convenience leans toward essentials rather than lifestyle. Average school ratings in the area trend below national norms, which may influence unit mix positioning and marketing.
Housing costs signal durable rental demand: home values rank in the upper national percentiles and the value‑to‑income ratio is elevated compared with most U.S. neighborhoods. In high‑cost ownership markets like this, multifamily can retain tenants longer and support pricing discipline, particularly when paired with a rent‑to‑income profile that remains manageable for many households. Median contract rents in the neighborhood outpace national medians, reflecting stronger willingness to pay.
Tenure patterns suggest depth for multifamily: within a 3‑mile radius, data indicate roughly two‑fifths of occupied housing units are renter‑occupied, creating a sizable tenant base for 1–2 bedroom product. In contrast, the immediate neighborhood shows a lower renter concentration, which can still support demand for professionally managed assets serving mobility‑oriented households. Demographically within 3 miles, incomes have risen meaningfully over the last five years, and WDSuite data point to rising household counts alongside smaller household sizes by the forecast period — dynamics that typically expand the renter pool and support occupancy.
Vintage considerations: the asset’s 1984 construction is older than the neighborhood’s average vintage (late‑1990s). For investors, that often translates into identifiable value‑add levers — unit interiors, common areas, and systems — to enhance competitive positioning against younger stock while planning for targeted capital expenditures.
Safety metrics are mixed and should be underwritten thoughtfully. The neighborhood’s crime ranking sits in the lower tier among 997 metro neighborhoods, and its national standing is below average (around the lower third of neighborhoods nationwide). Recent trends show improvement in property offenses year over year, while violent incident measures increased, underscoring the need for prudent security design, lighting, and resident engagement strategies rather than block‑level assumptions.
Proximity to distribution, consumer goods, and energy infrastructure employers supports a broad commuter tenant base and can aid retention through convenient access to jobs. Notable nearby employers include McKesson Medical Surgical, General Mills, Waste Management, Ryder Vehicle Sales, and Kinder Morgan.
- Mckesson Medical Surgical — medical distribution (8.0 miles)
- General Mills — consumer foods (9.3 miles)
- Waste Management — environmental services (10.5 miles)
- Ryder Vehicle Sales — transportation & logistics (13.3 miles)
- Kinder Morgan — energy infrastructure (16.0 miles)
219 E Parkridge Ave offers scale at 89 units with neighborhood fundamentals that favor occupancy stability and pricing discipline. Home values and the value‑to‑income ratio sit at elevated national percentiles, which typically sustain renter reliance on multifamily housing and support retention. Based on CRE market data from WDSuite, neighborhood occupancy is strong versus national benchmarks, while grocery and pharmacy access outperform most peer areas — useful for workforce‑oriented leasing.
The 1984 vintage is older than the area’s late‑1990s average, pointing to identifiable value‑add upside through interior modernization and systems planning. Within a 3‑mile radius, rising household incomes and forecasts indicating more households but smaller sizes suggest a larger tenant base over time, which can support steady absorption. Balanced against these positives are below‑average school ratings, limited park/cafe density, and safety metrics that warrant operational focus.
- Occupancy strength and elevated ownership costs support durable rental demand and retention
- 1984 vintage presents value‑add avenues to compete with newer stock
- Essential amenities (grocery/pharmacy) rank high nationally, aligning with workforce leasing
- 3‑mile outlook points to more households and a larger renter pool over time
- Risks: below‑average school ratings, limited parks/cafes, and safety metrics require active management