| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Fair |
| Demographics | 18th | Poor |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 200 N Yale St, Hemet, CA, 92544, US |
| Region / Metro | Hemet |
| Year of Construction | 1987 |
| Units | 60 |
| Transaction Date | 2015-05-22 |
| Transaction Price | $4,500,000 |
| Buyer | --- |
| Seller | Robert Reeves MD Inc. Employee BPT |
200 N Yale St Hemet 60-Unit Multifamily Investment
This 1987-built property sits in a renter-majority neighborhood with 62.7% rental occupancy, ranking in the top quartile nationally. Median household income growth of 45.6% over five years supports rental demand fundamentals according to CRE market data from WDSuite.
The property operates in an Inner Suburb neighborhood with a B- rating among 997 metro neighborhoods. At 62.7% rental share, this area ranks in the top quartile nationally for renter-occupied units, indicating strong rental market depth. The neighborhood maintains 89.4% occupancy, though this sits below metro medians with modest improvement trends over the past five years.
Built in 1987, the property predates the neighborhood's 1969 average construction year, potentially offering value-add opportunities through strategic capital improvements. Demographic data within a 3-mile radius shows population growth of 6% over five years, with household formation increasing 5.6%, expanding the potential tenant base. Projected growth through 2028 anticipates 15.6% population increase and 40.7% household growth, supporting longer-term rental demand.
The area demonstrates mixed affordability dynamics. Median contract rent of $1,169 ranks in the 64th national percentile, while the rent-to-income ratio of 0.26 suggests manageable tenant cost burden. Home values averaging $320,111 with 59.5% appreciation over five years may sustain rental demand by keeping ownership costs elevated relative to renting. The neighborhood offers strong convenience amenities, ranking in the 92nd national percentile for grocery store density and 95th percentile for pharmacy access, supporting tenant retention.
Safety metrics present a mixed profile for this Hemet neighborhood. Property crime rates of 300.5 incidents per 100,000 residents rank near the metro median among 997 neighborhoods, placing in the 48th national percentile. However, property crime increased 335.2% year-over-year, ranking in the bottom quartile nationally and warranting attention in tenant communications and security planning.
Violent crime shows more favorable trends, with rates of 20.2 incidents per 100,000 residents ranking above metro median and in the 58th national percentile. Notably, violent crime decreased 42.1% year-over-year, ranking in the top quartile nationally for improvement. Investors should monitor property crime trends while recognizing the positive trajectory in violent crime reduction.
The employment base includes several corporate offices within commuting distance, providing workforce housing opportunities for professional tenants.
- General Mills — food manufacturing corporate offices (17.9 miles)
- Kinder Morgan — energy infrastructure corporate offices (32.2 miles)
- Waste Management — environmental services corporate offices (34.0 miles)
- Gilead Sciences — biopharmaceutical corporate offices (42.4 miles)
This 60-unit property benefits from strong rental market fundamentals in a neighborhood ranking in the top quartile nationally for renter occupancy. The 1987 construction year positions the asset for potential value-add opportunities through strategic renovations. Demographic projections show robust household growth of 40.7% through 2028, expanding the tenant pool, while income growth of 50.8% supports rent advancement potential.
According to multifamily property research from WDSuite, the area's 62.7% rental share creates depth in the tenant market, while elevated home values relative to incomes may sustain rental demand. The neighborhood's strong amenity density, particularly grocery and pharmacy access, supports tenant retention and leasing velocity.
- Top quartile nationally for rental occupancy at 62.7% of housing units
- Projected 40.7% household growth through 2028 expanding tenant base
- 1987 vintage offers value-add potential through strategic improvements
- Strong amenity density supports tenant retention and leasing
- Risk: Property crime increased 335% year-over-year requiring security considerations