| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Good |
| Demographics | 26th | Fair |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 430 W 10th St, Corona, CA, 92882, US |
| Region / Metro | Corona |
| Year of Construction | 1972 |
| Units | 22 |
| Transaction Date | 2004-09-13 |
| Transaction Price | $367,000 |
| Buyer | DAILEY TIMOTHY |
| Seller | FEDERAL HOME LOAN MORTGAGE CORPORATION |
430 W 10th St Corona Multifamily Investment
This 22-unit property sits in a neighborhood with 96.7% occupancy rates and strong rental demand, supported by high renter concentration according to CRE market data from WDSuite.
The Corona neighborhood ranks in the top quartile nationally for housing metrics among 997 metro neighborhoods, with 96.7% occupancy rates indicating strong rental market fundamentals. The area maintains a 70.5% renter share, ranking in the 97th percentile nationally, which supports consistent multifamily demand in this inner suburb location.
Built in 1972, this property represents value-add potential in a neighborhood where the average construction year is 1951, positioning it as relatively newer stock requiring strategic capital planning for long-term competitiveness. Demographic data within a 3-mile radius shows household income growth of 39.7% over five years to a median of $102,452, with forecasted increases to $141,601 by 2028, expanding the renter pool and supporting lease retention.
The neighborhood offers strong amenity density with 3.12 grocery stores per square mile (90th percentile nationally) and extensive restaurant access at 18.73 per square mile (96th percentile), enhancing tenant appeal. Median contract rents of $2,069 reflect 33.5% growth over five years, though rent-to-income ratios suggest affordability considerations for lease management strategies.
Property crime rates in the neighborhood rank around the middle among 997 metro neighborhoods, with recent data showing a significant 71.2% decline in property offenses, placing the area in the 96th percentile nationally for crime reduction trends. This improvement trajectory supports tenant retention and property value stability.
Violent crime rates remain moderate relative to metro benchmarks, though recent increases warrant monitoring for lease management considerations. The overall crime profile reflects typical inner suburb dynamics, with ongoing improvements in property crime providing positive momentum for the investment environment.
The Corona submarket benefits from proximity to diverse corporate employers, providing workforce housing opportunities and commute convenience that supports renter demand from McKesson Medical Surgical, General Mills, and other major operations.
- McKesson Medical Surgical — healthcare services (8.5 miles)
- General Mills — food manufacturing (10.7 miles)
- Waste Management — environmental services (11.2 miles)
- Ryder Vehicle Sales — transportation services (13.9 miles)
- United Technologies — aerospace & defense (16.9 miles)
This 1972-built property offers value-add potential in a neighborhood demonstrating exceptional rental fundamentals, with 96.7% occupancy rates and 70.5% renter concentration supporting stable cash flows. The 3-mile demographic profile shows household income growth of 39.7% over five years, with projections indicating continued expansion to $141,601 by 2028, strengthening the tenant base and lease pricing power according to multifamily property research from WDSuite.
The neighborhood's ranking in the top quartile nationally for housing metrics among 997 metro areas, combined with strong amenity density and improving crime trends, positions this asset for long-term rental demand stability. Recent rent growth of 33.5% over five years demonstrates market acceptance of higher pricing, though affordability metrics suggest careful lease management strategies will be essential for sustained performance.
- Exceptional occupancy fundamentals with 96.7% neighborhood rates and 97th percentile renter concentration
- Value-add opportunity with 1972 vintage in neighborhood averaging 1951 construction
- Growing household incomes with 39.7% five-year growth and positive projections through 2028
- Strong amenity density supporting tenant retention and lease-up velocity
- Risk consideration: Affordability pressure may require strategic lease management and concession planning