| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Good |
| Demographics | 10th | Poor |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 901 S Smith Ave, Corona, CA, 92882, US |
| Region / Metro | Corona |
| Year of Construction | 1989 |
| Units | 83 |
| Transaction Date | 2015-02-12 |
| Transaction Price | $11,000,000 |
| Buyer | William Wingo |
| Seller | Korda Group |
901 S Smith Ave, Corona Multifamily Opportunity
Stabilized neighborhood occupancy and strong daily-needs amenities indicate durable renter demand in Corona, according to WDSuite s CRE market data. The property s submarket dynamics favor sustained leasing, with affordability management an important lever for retention.
The neighborhood surrounding 901 S Smith Ave rates B+ and is competitive among Riverside San Bernardino Ontario neighborhoods (rank 280 of 997). Amenity access is a clear strength: grocery, restaurant, cafe, childcare, and pharmacy availability all track in the upper national percentiles, supporting convenience-driven renter appeal. Park access is limited, which modestly tempers the livability mix for households prioritizing green space.
Measured at the neighborhood level, multifamily occupancy is elevated and above national norms, supporting income stability for well-managed assets. Median home values sit in a high-cost ownership context (upper national percentiles), which tends to sustain reliance on rental housing and deepen the tenant base for professionally operated communities. Rent-to-income trends near 0.29 suggest some affordability pressure; pricing and renewal strategies should emphasize retention while protecting yield.
Within a 3-mile radius, demographics indicate a large, family-oriented renter pool (average household size above three) with recent population softness but rising incomes over the last five years. Forecasts point to more households and smaller household sizes by the next five-year window, which can expand the renter pool and support occupancy stability for a range of unit mixes.
Vintage matters for competitive positioning. Built in 1989 compared with an area average vintage from the early 1960s, the asset is newer than much of the surrounding stock, typically aiding leasing versus older comparables. Select modernization of systems and common areas can further differentiate against aging inventory and support rent trade-outs.
Safety indicators are mixed when compared across the metro and nation. The neighborhood s overall crime rank places it below the metro median (678 of 997), while national positioning sits around the middle of the pack. Notably, estimated property offenses improved sharply year over year (strong improvement relative to U.S. peers), whereas violent offense trends rose over the same period. Investors typically account for these cross-currents through security, lighting, and community engagement practices rather than assuming a single trend will persist.
Proximity to regional employers supports workforce housing demand and commute convenience, particularly for healthcare distribution, environmental services, consumer goods, logistics, and title services.
- Mckesson Medical Surgical healthcare distribution (7.6 miles)
- Waste Management environmental services (10.3 miles)
- General Mills consumer packaged goods (10.7 miles)
- Ryder Vehicle Sales logistics & fleet (12.9 miles)
- First American Financial title & financial services (19.6 miles) HQ
901 S Smith Ave is an 83-unit, 1989-vintage community positioned in a neighborhood with elevated occupancy and strong daily-needs amenity access. Newer relative to much of the local stock, the asset can compete effectively against older properties, with targeted upgrades offering value-add potential. High home values in the area reinforce renter reliance on multifamily housing, while a 3-mile demographic radius shows a sizable family renter base and forecasts for more households with smaller sizes conditions that typically support leasing depth and steady absorption.
According to CRE market data from WDSuite, neighborhood occupancy trends are above national norms, while rent-to-income levels point to some affordability pressure suggesting that disciplined renewal management and resident retention strategies will be important to sustain NOI. Safety indicators are mixed but improving on property offenses, and limited park access is a known tradeoff versus the area s strong retail and service coverage.
- Occupancy above national norms at the neighborhood level supports income stability
- 1989 vintage offers competitive positioning versus older local stock with upgrade upside
- High-cost ownership market sustains renter demand and leasing depth
- Strong access to groceries, restaurants, and services underpins daily convenience
- Risks: mixed safety trends, limited parks, and rent-to-income pressure require proactive management