| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Fair |
| Demographics | 21st | Poor |
| Amenities | 38th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 25555 New Chicago Ave, Hemet, CA, 92544, US |
| Region / Metro | Hemet |
| Year of Construction | 1977 |
| Units | 21 |
| Transaction Date | 2021-09-11 |
| Transaction Price | $3,045,000 |
| Buyer | IE 3 LLC |
| Seller | PI PROPERTIES NO 107 LLC |
25555 New Chicago Ave, Hemet CA Multifamily Investment
Neighborhood occupancy trends are firm and above metro medians, according to WDSuite’s CRE market data, supporting stable leasing for a 21-unit asset in Hemet. Positioning focuses on steady renter demand and practical operations rather than premium amenity appeal.
Located in Hemet’s inner suburban fabric of the Riverside–San Bernardino–Ontario metro, this neighborhood carries a C+ rating and sits below the metro median overall, but it demonstrates practical demand drivers that matter for multifamily operations. Neighborhood occupancy is above the metro median and in the top quartile nationally, indicating a steady baseline for lease-up and retention (these occupancy metrics reflect the neighborhood, not the property).
Daily-needs access is a relative strength: grocery and pharmacy availability rank in the top quartile among 997 metro neighborhoods and score well versus national peers. Restaurant density is moderate, while cafes, childcare, and parks are limited, suggesting residents rely on core retail nodes over lifestyle amenities. Average school ratings in the area trend below national averages, which may influence unit mix strategy toward workforce and value-oriented renters.
Household and population data aggregated within a 3-mile radius indicate recent population growth with additional gains forecast through 2028. Household counts are projected to rise, with slightly smaller average household sizes over time—factors that typically expand the renter pool and support occupancy stability. Renter-occupied share within this 3-mile radius is roughly three in ten housing units, providing a defined tenant base without oversaturation, while a high-cost ownership landscape in the metro context reinforces reliance on rental options.
Vintage context is notable: the property’s 1977 construction is older than the neighborhood’s average 1988 vintage, pointing to capital planning needs and potential value-add through systems upgrades and targeted renovations. NOI per-unit performance for the neighborhood sits competitively at the metro level, underscoring the case for disciplined operations that leverage solid demand fundamentals despite amenity gaps.
Safety indicators for the neighborhood are mixed relative to the Riverside–San Bernardino–Ontario metro. Overall crime ranks below the metro median among 997 neighborhoods, and national percentiles place the area around the mid-range. Recent trends show improvement: estimated violent and property offense rates have declined year over year, which supports a more stable operating backdrop if the trajectory continues.
As always, investors should underwrite with current, block-level due diligence and consider property-level controls (lighting, access, and monitoring) to align with resident expectations and risk management goals.
The area draws from a diversified Inland Empire employment base, with nearby corporate offices that support commuter convenience and reinforce workforce housing demand. Notable employers include General Mills, Waste Management, Kinder Morgan, and Gilead Sciences.
- General Mills — corporate offices (20.2 miles)
- Waste Management — corporate offices (31.5 miles)
- Kinder Morgan — corporate offices (34.0 miles)
- Gilead Sciences — corporate offices (43.6 miles)
This 21-unit asset at 25555 New Chicago Ave benefits from neighborhood occupancy that is above the metro median and solidly competitive nationally, supporting steady leasing and retention. Based on CRE market data from WDSuite, daily-needs retail access is a relative advantage, while limited lifestyle amenities suggest a focus on value-oriented renters and disciplined expense control. Elevated ownership costs in the broader metro context help sustain multifamily demand, which, paired with a defined renter base, can underpin consistent cash flow management.
Constructed in 1977, the property is older than the neighborhood’s average vintage, highlighting both capital expenditure needs and value-add potential through modernization, energy-efficiency upgrades, and unit/interior refreshes. Forward-looking 3-mile demographics point to continued population and household growth, which can expand the tenant base and support occupancy stability over the hold period.
- Neighborhood occupancy above metro medians supports stable lease-up and retention
- Strong access to grocery and pharmacy anchors offsets limited lifestyle amenities
- 1977 vintage creates value-add potential; plan for systems and interior upgrades
- Risks: limited cafes/parks, below-average school ratings, and mixed safety positioning warrant conservative underwriting