| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Fair |
| Demographics | 18th | Poor |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1905 E Devonshire Ave, Hemet, CA, 92544, US |
| Region / Metro | Hemet |
| Year of Construction | 1972 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1905 E Devonshire Ave, Hemet CA — 20-Unit 1972 Multifamily
Renter-occupied housing is concentrated in the neighborhood, and daily-needs retail access is strong, supporting steady tenant demand, according to WDSuite’s CRE market data. Positioning and operations, not luxury features, are likely to drive returns in this inner-suburb location.
The property sits in an Inner Suburb of the Riverside–San Bernardino–Ontario metro with a neighborhood rating of B-. Among 997 metro neighborhoods, this area ranks 490, placing it around the metro median and competitive among Inland Empire submarkets for workforce housing. Grocery (92nd percentile nationally), pharmacy (95th), and restaurant access (94th) are strong, while cafes and park acreage are limited. For investors, that mix points to convenient daily-needs access that supports leasing and renewals, even if lifestyle amenities are thinner.
Neighborhood occupancy is measured for the neighborhood and not the property; it trends near the national midpoint with recent improvement, suggesting stabilizing fundamentals rather than peak tightness. Importantly, renter-occupied share of housing units is high (95th percentile nationally), indicating a deep tenant base for multifamily operators and consistent leasing velocity across economic cycles.
Within a 3-mile radius, population and household counts have grown over the past five years, with forecasts calling for additional population growth and a larger household base by 2028. That expansion, combined with a slight drift toward smaller average household sizes, implies gradual renter pool expansion and supports occupancy stability over the medium term.
Home values in the neighborhood are elevated relative to local incomes (value-to-income ratio in the 88th national percentile). In investor terms, this is a high-cost ownership context that can reinforce reliance on rental housing and aid lease retention. Rents are mid-market by national standards and, with rent-to-income measured near the lower end of national distributions, there may be selective pricing power for updated units, subject to local income mix and finish level. The building’s 1972 vintage is slightly newer than the neighborhood’s average construction year (1969) but still older than much of today’s product, pointing to ongoing capital planning and value-add opportunities (systems, exteriors, and interiors) to compete with newer stock.
Safety indicators are mixed compared with national and metro benchmarks. At the metro level, the neighborhood’s crime rank sits near the middle of 997 neighborhoods, indicating conditions around the metro average rather than a top- or bottom-tier outlier. Nationally, violent offense levels align slightly better than average (upper-half percentile), while property offense levels are closer to the national midpoint.
Recent trends show a year-over-year decrease in violent offense alongside an uptick in property offense estimates. For investors, this implies monitoring for property crime risk management (lighting, access control, package handling) while noting that violent crime trends have improved. Always underwrite with current local data and property-specific measures rather than block-level assumptions.
Regional employment is diversified across food manufacturing, energy infrastructure, environmental services, and life sciences distribution, supporting a broad renter base and commute convenience for workforce tenants. The employers below reflect nearby corporate offices that can help sustain leasing and retention.
- General Mills — food manufacturing offices (17.7 miles)
- Kinder Morgan — energy infrastructure offices (32.0 miles)
- Waste Management — environmental services offices (34.1 miles)
- General Mills — food manufacturing offices (38.4 miles)
- Gilead Sciences — life sciences offices (42.4 miles)
1905 E Devonshire Ave is a 20-unit 1972 multifamily asset positioned in an Inner Suburb with solid day-to-day amenity coverage and a deep renter base. Based on CRE market data from WDSuite, the neighborhood’s renter-occupied share is high by national standards, daily-needs access is strong, and home values relative to incomes suggest an ownership market that sustains reliance on rentals. Within a 3-mile radius, population and households have grown with further expansion forecast, supporting a larger tenant base and steady occupancy over time.
The 1972 vintage points to value-add potential: targeted renovations and system upgrades can sharpen competitiveness against newer product and unlock selective pricing power where rent-to-income dynamics allow. Underwriting should account for occupancy that is closer to the national midpoint and recent property offense volatility, with operational focus on security, lighting, and resident services.
- Deep renter concentration and daily-needs proximity support leasing stability
- 3-mile population and household growth indicate a larger tenant base ahead
- 1972 vintage offers value-add upside through renovations and system improvements
- Elevated ownership costs locally reinforce multifamily demand and retention
- Risks: occupancy near mid-cycle levels and property crime fluctuations require active management