| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 32nd | Fair |
| Amenities | 42nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1250 S Cawston Ave, Hemet, CA, 92545, US |
| Region / Metro | Hemet |
| Year of Construction | 1986 |
| Units | 96 |
| Transaction Date | 2017-04-28 |
| Transaction Price | $12,100,000 |
| Buyer | Providence Hemet Apartments LLC |
| Seller | Riverdale Condominiums Hemet LP, Other, WLA Investments, Inc., PCraicseh/ uEnqitu aivnadle /nsft |
1250 S Cawston Ave Hemet Multifamily Investment
This 96-unit property built in 1986 operates in a neighborhood with 98.6% occupancy rates, ranking in the top 10% nationally for occupancy stability. CRE market data from WDSuite indicates strong rental demand fundamentals in this Riverside County location.
The neighborhood surrounding 1250 S Cawston Ave demonstrates strong occupancy fundamentals, with 98.6% occupancy rates ranking 184th among 997 metro neighborhoods and placing in the 92nd percentile nationally. This suburban area maintains a 33.9% renter-occupied housing share, providing a stable tenant base for multifamily operators. Median contract rents of $2,166 rank in the top quartile regionally while remaining affordable relative to area income levels.
Demographics within a 3-mile radius show a population of approximately 52,600 residents with projected growth to 62,800 by 2028—a 19% increase that supports expanding rental demand. The area's median household income of $51,696 is forecast to rise 43% over the next five years, potentially strengthening tenant purchasing power and lease renewal rates.
Built in 1986, this property predates the neighborhood's average construction year of 1991, positioning it for potential value-add opportunities through strategic capital improvements. The area's B neighborhood rating reflects balanced fundamentals across housing, demographics, and local amenities, with competitive access to parks and restaurants supporting tenant retention.
Safety metrics show this neighborhood performing above regional averages, ranking 45th among 997 metro neighborhoods for overall crime rates and placing in the 77th percentile nationally. Property offense rates of 14.3 per 1,000 residents have declined 41% year-over-year, indicating improving conditions that support tenant retention and property values.
Violent crime rates remain particularly low at 3.1 incidents per 100,000 residents, ranking in the top 15% of metro neighborhoods and 88th percentile nationally. These safety fundamentals contribute to neighborhood stability and can support consistent occupancy performance over time.
The broader employment base includes several major corporate offices within commuting distance, providing workforce housing opportunities for professional renters.
- General Mills — food manufacturing (15.3 miles)
- Kinder Morgan — energy infrastructure (30.6 miles)
- Waste Management — environmental services (37.8 miles)
- Gilead Sciences — biotechnology (39.3 miles)
This 96-unit property benefits from exceptional neighborhood-level occupancy stability at 98.6%, ranking in the top 10% nationally according to commercial real estate analysis from WDSuite. The 1986 vintage positions the asset for value-add strategies while demographic projections show 19% population growth through 2028, expanding the potential tenant base significantly.
Riverside County's suburban fundamentals include improving safety metrics with 41% year-over-year crime reduction and median household income projected to increase 43% over five years. The neighborhood's B rating reflects balanced investment fundamentals across key metrics, while current rent levels remain affordable relative to area incomes, supporting lease renewal stability.
- Exceptional 98.6% neighborhood occupancy rates ranking top 10% nationally
- Strong demographic tailwinds with 19% population growth projected through 2028
- Value-add potential with 1986 vintage allowing strategic capital improvements
- Risk consideration: Limited local amenity density may impact tenant attraction in competitive markets