| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Fair |
| Demographics | 21st | Poor |
| Amenities | 38th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 25615 New Chicago Ave, Hemet, CA, 92544, US |
| Region / Metro | Hemet |
| Year of Construction | 1977 |
| Units | 21 |
| Transaction Date | 1999-05-21 |
| Transaction Price | $350,000 |
| Buyer | CAHRAMAN THOMAS H |
| Seller | MAYERS GEORGE H |
25615 New Chicago Ave Hemet Multifamily Investment
Neighborhood occupancy trends are stable and sit in the stronger range for the metro, according to WDSuite’s CRE market data, supporting durable cash flow potential for a 21-unit asset.
Located in Hemet’s inner-suburban fabric of the Riverside–San Bernardino–Ontario metro, the surrounding neighborhood is rated C+ (ranked 638 of 997 metro neighborhoods), placing it slightly below the metro median but with several investor-friendly fundamentals. Neighborhood occupancy is comparatively solid and sits in the top quartile nationally, a backdrop that supports lease stability at the property level.
Everyday needs are well covered: grocery and pharmacy access benchmark above most neighborhoods nationwide, while cafes and parks are limited locally. School ratings trail national norms, which may temper appeal for some family renters, but the convenience retail mix helps day-to-day livability and reduces friction for residents.
Within a 3-mile radius, demographic statistics from WDSuite indicate multi-year population and household growth, with a larger working-age cohort and expanding household counts. This expansion broadens the tenant base and supports occupancy durability. The area skews more owner-occupied, but a meaningful share of units are renter-occupied, creating steady—if not transient—multifamily demand.
Rents in the neighborhood price above the national median while the local rent-to-income profile is comparatively manageable, which can aid retention and reduce turnover pressure. Median home values are elevated versus incomes by national standards, which tends to reinforce reliance on rentals and supports sustained renter demand.
The asset’s 1977 vintage is older than the neighborhood’s average construction year, suggesting routine capital planning and selective renovations could capture value-add upside and improve competitive positioning against newer stock.
Neighborhood safety indicators sit around the national midpoint, with the area performing near the metro’s middle tier compared with other Riverside–San Bernardino–Ontario neighborhoods. Recent year-over-year trends show declines in both property and violent incident rates, an encouraging directional signal, though investors should underwrite with standard risk controls and monitor local trends over time.
Regional employment anchors within commuting range—General Mills, Waste Management, Kinder Morgan, and Gilead Sciences—support a diversified renter base and help underpin leasing stability for workforce-oriented housing.
- General Mills — consumer foods offices (20.2 miles)
- Waste Management — environmental & waste services offices (31.5 miles)
- Kinder Morgan — energy infrastructure offices (34.1 miles)
- General Mills — consumer foods offices (40.7 miles)
- Gilead Sciences — biopharma offices (43.6 miles)
25615 New Chicago Ave offers investors exposure to a neighborhood with solid occupancy performance and day-to-day conveniences that matter to renters. Based on CRE market data from WDSuite, the neighborhood’s occupancy benchmarks in the top quartile nationally, while grocery and pharmacy access are strengths relative to U.S. peers. Elevated ownership costs versus incomes help sustain renter reliance on multifamily housing, supporting demand depth and lease retention.
The 1977 vintage is older than the neighborhood average, indicating a clear value-add path through targeted renovations and system upgrades to enhance competitiveness. At the same time, relatively balanced rent-to-income conditions suggest room for disciplined revenue management focused on retention and steady growth rather than aggressive push. Key underwriting considerations include below-average school ratings, limited parks/cafes, and monitoring safety trends despite recent improvements.
- Neighborhood occupancy ranks in the stronger national tier, supporting leasing stability
- Older 1977 vintage provides value-add and modernization upside versus newer competitive stock
- Ownership costs elevated relative to incomes reinforce sustained renter demand
- Everyday retail access (grocery/pharmacy) strengthens livability and retention potential
- Risks: weaker school ratings, limited parks/cafes, and mid-pack safety require prudent underwriting