| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Best |
| Demographics | 44th | Good |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 909 Rimpau Ave, Corona, CA, 92879, US |
| Region / Metro | Corona |
| Year of Construction | 1988 |
| Units | 59 |
| Transaction Date | 2017-04-28 |
| Transaction Price | $10,800,000 |
| Buyer | The Village Properties Revocable Living |
| Seller | Mahomed Gaffoor |
909 Rimpau Ave, Corona CA Multifamily Investment
Neighborhood occupancy remains strong and renter demand is supported by a high-cost ownership market, according to WDSuite’s CRE market data. Expect durable leasing fundamentals in Corona’s Urban Core with competitive positioning versus many Riverside–San Bernardino–Ontario submarkets.
The property sits in Corona’s Urban Core, where the neighborhood earns an A rating and is competitive among Riverside–San Bernardino–Ontario neighborhoods (ranked 54 of 997). According to WDSuite’s CRE market data, neighborhood occupancy is elevated versus national norms, supporting income stability for well-managed assets.
Daily conveniences are a strength: restaurants and grocery options are dense for the metro, and parks are accessible. Childcare density ranks in the top decile nationally. One gap to consider is limited nearby pharmacy presence, which may modestly affect convenience for residents; operators can offset with delivery partnerships and targeted resident services.
Schools in the area rate above national averages (average around 4 of 5), which can aid family renter retention and leasing velocity compared to peer neighborhoods. Median home values are elevated for the region, reinforcing reliance on multifamily rentals and offering pricing power when paired with responsible lease management.
Within a 3-mile radius, demographics show a large, diversified population with incomes that have trended upward and household sizes gradually normalizing. Although population has softened slightly, WDSuite data indicates household counts are poised to increase as average household size declines, which broadens the renter pool and supports occupancy stability for a range of unit mixes.
Vintage in this neighborhood skews early-1980s on average; at 1988 construction, this asset is somewhat newer than the local baseline, providing a competitive edge versus older stock while still warranting selective modernization of systems and interiors to enhance rent premiums.
Safety indicators are mixed and generally near the metro median. Property offenses have improved materially year over year, a constructive trend for resident satisfaction and retention. Violent offense measures track closer to national mid-range levels, so prudent security design (lighting, access control, and community engagement) remains advisable.
Relative to neighborhoods nationwide, the area sits around the middle of the pack overall, with recent momentum in property crime improvement. Investors should underwrite to standard risk-mitigation practices rather than assume either outsized risk or outsized safety advantages at the block level.
Nearby corporate nodes help sustain renter demand through commute convenience for logistics, food manufacturing, and industrial services roles. Notable employers within a reasonable drive include McKesson Medical Surgical, General Mills, Waste Management, Ryder Vehicle Sales, and Kinder Morgan.
- Mckesson Medical Surgical — medical supply distribution (9.4 miles)
- General Mills — food manufacturing (10.5 miles)
- Waste Management — environmental services (12.0 miles)
- Ryder Vehicle Sales — transportation & fleet services (14.7 miles)
- Kinder Morgan — energy infrastructure (16.6 miles)
This 59-unit, 1988-vintage asset benefits from strong neighborhood occupancy and a high-cost ownership landscape that supports multifamily demand. Based on commercial real estate analysis from WDSuite, the location is competitive within the Riverside–San Bernardino–Ontario metro, offering dependable renter depth and the potential for steady lease-up and retention.
The vintage is newer than the neighborhood average, positioning the property favorably versus older stock while leaving room for targeted value-add in unit finishes and building systems. Nearby amenities and reputable schools bolster livability, and employment access across logistics, manufacturing, and services supports a broad tenant base. Key underwriting considerations include mixed—but improving—safety indicators and the need to strategically manage affordability pressures to sustain pricing power.
- Strong neighborhood occupancy and renter depth support income stability
- 1988 construction offers a competitive edge with clear value-add pathways
- High-cost ownership market reinforces reliance on multifamily housing
- Amenity density and reputable schools aid retention and leasing velocity
- Risks: mixed safety metrics and affordability pressure require active management