| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Fair |
| Demographics | 18th | Poor |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 248 S Yale St, Hemet, CA, 92544, US |
| Region / Metro | Hemet |
| Year of Construction | 1998 |
| Units | 20 |
| Transaction Date | 2016-10-26 |
| Transaction Price | $2,350,000 |
| Buyer | BURTAL INVESTMENTS LLC |
| Seller | RIVERSIDE COUNTY VENTURES LLC |
248 S Yale St Hemet Multifamily Investment
Neighborhood renter-occupied concentration is high and occupancy has trended upward in recent years, according to WDSuite’s CRE market data, supporting demand durability for a 1998-vintage, 20-unit asset. Pricing power should be approached with measured lease management given income levels and rent-to-income dynamics in the area.
Located in an Inner Suburb of the Riverside–San Bernardino–Ontario metro, the neighborhood rates B- and ranks 490 out of 997 metro neighborhoods — competitive among Riverside–San Bernardino–Ontario neighborhoods. Amenity access is mixed: grocery, pharmacy, and restaurant density sit in the top quartile nationally, while parks and cafes are limited, which can shift resident priorities toward convenient daily needs over leisure amenities.
The share of housing units that are renter-occupied in the neighborhood is elevated (above the metro median and in a high national percentile), signaling a deep tenant base and potential support for leasing velocity and retention. Neighborhood occupancy has improved over the past five years, which can help underpin cash flow stability during typical turnover cycles.
The property’s 1998 construction is newer than the neighborhood’s older housing stock (average vintage 1969). This positioning can be competitively favorable versus nearby legacy assets, while still leaving room for targeted modernization or systems upgrades to enhance rents and reduce near-term capex variability.
Within a 3-mile radius, demographics indicate recent population growth with additional increases projected, along with an expansion in households and a slight trend toward smaller household sizes. These shifts point to renter pool expansion and support for occupancy stability. Elevated home values relative to incomes in the neighborhood context reinforce reliance on multifamily options, which can aid tenant retention; at the same time, rent-to-income ratios suggest measured affordability pressure that owners should factor into renewal strategies and pricing decisions during lease-up.
Safety signals in this neighborhood are mixed when viewed against the metro and national context. The neighborhood’s overall crime rank sits around the metro median (482 of 997), while national percentiles indicate violent offenses are comparatively better than average and property offenses around average versus neighborhoods nationwide.
Recent trends show improvement in violent offense rates year over year, contrasted with volatility in estimated property offense rates. For investors, this argues for standard risk management: maintain lighting and access controls, coordinate with local property management on reporting practices, and underwrite conservative loss assumptions rather than relying on short-term fluctuations.
Nearby corporate offices across consumer goods, energy infrastructure, waste services, biopharma, and medical distribution provide a diversified employment base accessible by regional corridors, supporting commuter convenience and multifamily renter demand in the submarket.
- General Mills — consumer packaged goods offices (18.0 miles)
- Kinder Morgan — energy infrastructure offices (32.4 miles)
- Waste Management — environmental services offices (34.0 miles)
- General Mills — consumer packaged goods offices (38.7 miles)
- Gilead Sciences — biopharma offices (42.1 miles)
- Mckesson Medical Surgical — medical distribution offices (44.2 miles)
248 S Yale St offers a 1998-vintage, 20-unit footprint positioned against an older neighborhood baseline, creating relative competitiveness while preserving value-add pathways through selective modernization. Based on CRE market data from WDSuite, the surrounding neighborhood shows a high share of renter-occupied units and improving occupancy trends, indicating depth in the tenant base and support for leasing stability. Strong access to daily-needs amenities (grocery, pharmacy, restaurants) further aligns with renter convenience, while limited parks and cafes may temper lifestyle-driven premiums.
Within a 3-mile radius, recent population growth and projections for additional increases in both population and households suggest a larger renter pool over the medium term. Elevated ownership costs relative to incomes in the neighborhood context reinforce demand for rental housing, though rent-to-income dynamics imply prudent renewal strategies and careful pacing of rent growth. Investors should also account for mixed safety trends and income variability when stress testing collections and expense reserves.
- Newer 1998 vintage versus older local stock supports competitive positioning with targeted modernization upside
- High renter-occupied share and improving neighborhood occupancy underpin demand depth and leasing stability
- Daily-needs amenities (grocery, pharmacy, restaurants) are strong, supporting renter convenience
- 3-mile population and household growth point to renter pool expansion and long-term absorption support
- Risks: income variability, property offense volatility, and amenity gaps (parks/cafes) warrant conservative underwriting