| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Poor |
| Demographics | 26th | Fair |
| Amenities | 41st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 244 E Thornton Ave, Hemet, CA, 92543, US |
| Region / Metro | Hemet |
| Year of Construction | 1981 |
| Units | 32 |
| Transaction Date | 2014-05-05 |
| Transaction Price | $2,319,500 |
| Buyer | ROAD DOG PROPERTIES LP |
| Seller | BAER KAREN JACQUELINE |
244 E Thornton Ave Hemet Multifamily Investment
Stable neighborhood occupancy and accessible daily needs point to steady renter appeal, according to WDSuite’s CRE market data. Focus is on income resilience rather than outsized growth, with leasing supported by local services and workforce demand.
Located in Hemet’s inner-suburban fabric of the Riverside–San Bernardino–Ontario metro, the neighborhood scores a C rating and sits below the metro median (701 of 997 neighborhoods). For investors, fundamentals lean toward durability over outperformance: neighborhood occupancy is around the national middle, and median asking rents measure in the upper quartile nationally, signaling pricing that relies on service accessibility and value positioning rather than premium amenity density.
Everyday convenience is a relative strength. Grocery and pharmacy access sit in the upper national percentiles (around the high-70s to 90th percentile range), while restaurants are also above average nationally. By contrast, cafés and parks are sparse, indicating limited lifestyle amenities within close reach. This mix supports workforce housing needs but may require on-site upgrades to capture retention. For multifamily property research, nearby services help sustain leasing even when discretionary amenity options are thinner.
School ratings trend below national norms (around the mid-teens percentile), which can temper appeal for family renters focused on public school performance. Home values track near the national middle, and the neighborhood’s value-to-income positioning suggests ownership is comparatively accessible in the broader context, which can create incremental competition for renter households unless properties differentiate on convenience, renovations, or management quality.
Vintage context matters: the neighborhood’s housing stock averages late-1970s. With the subject asset built in 1981, investors should plan for ongoing system updates and selective renovations to remain competitive versus refreshed stock. Within a 3-mile radius, demographics show population and household growth over the past five years with forecasts calling for additional expansion through 2028; this points to a larger tenant base and supports occupancy stability even as household sizes ease slightly. Renter-occupied share within this 3-mile radius is near half of units, indicating a deep tenant pool that can underpin demand and retention.
Safety signals are mixed in a way typical of inner-suburban Riverside County. Compared with neighborhoods nationwide, overall crime indicators sit near the middle, with violent incidents trending somewhat safer than average and property crime readings also modestly better than national midline. Within the Riverside–San Bernardino–Ontario metro (997 neighborhoods), the area compares competitively to some peers but does not lead on safety.
Recent trends are noteworthy: WDSuite data shows a year-over-year improvement in estimated violent offense rates, while estimated property offense measures have seen a sharp uptick. Investors should emphasize standard security practices, lighting, and resident engagement, and monitor local reporting for updates rather than relying on block-level assumptions.
Regional employers within commuting range include food manufacturing, energy infrastructure, waste services, and biotech. This mix supports workforce housing demand and commute convenience for residents employed across distribution, operations, and professional roles.
- General Mills — food manufacturing (17.5 miles)
- Kinder Morgan — energy infrastructure (32.4 miles)
- Waste Management — environmental services (35.2 miles)
- Gilead Sciences — biotech/pharmaceutical offices (40.4 miles)
The 32-unit asset at 244 E Thornton Ave offers a pragmatic yield-focused thesis in a neighborhood where occupancy trends sit near national norms and rents benchmark above national midline. Daily-needs retail is a relative advantage (grocery and pharmacy access), while limited park/café density suggests owners can create value through on-site improvements and service quality. Built in 1981, the property’s vintage points to ongoing capital planning and selective value-add to strengthen competitive positioning.
Within a 3-mile radius, population and households have grown and are projected to expand further through 2028, supporting a larger tenant base and lease-up resilience. Homeownership costs track around national midline, so some competition from ownership exists; disciplined pricing and resident services can sustain retention. According to CRE market data from WDSuite, neighborhood rent levels have outpaced many national peers over the last cycle, while safety trends are mixed (improving violent-offense indicators but higher recent property-crime estimates), warranting routine risk management.
- Workforce-convenient location with strong access to grocery, pharmacy, and restaurants supporting leasing stability
- 1981 vintage offers value-add via targeted renovations and system upgrades
- Expanding 3-mile renter pool and household growth underpin demand and occupancy
- Above-median rent positioning provides pricing power with careful lease management
- Risks: mixed safety signals (recent property-crime uptick), below-average school ratings, and potential competition from ownership