| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Fair |
| Demographics | 18th | Poor |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 26079 Columbia St, Hemet, CA, 92544, US |
| Region / Metro | Hemet |
| Year of Construction | 1988 |
| Units | 36 |
| Transaction Date | 2017-09-21 |
| Transaction Price | $4,400,000 |
| Buyer | Cannon Equity Partners X, LLC |
| Seller | Mike Sater |
26079 Columbia St, Hemet CA Multifamily Investment
Neighborhood renter concentration is high and occupancy has trended upward, supporting a durable tenant base according to WDSuite’s CRE market data.
Located in Hemet’s inner-suburban fabric, the property benefits from a renter-occupied share of housing units that is elevated at the neighborhood level, indicating deep multifamily demand and support for lease-up and retention. Neighborhood occupancy has risen over the last five years, a constructive signal for cash flow stability during typical turnover cycles.
Daily-life convenience is a relative strength: neighborhood access to grocery stores and pharmacies ranks in the top decile nationally, and restaurants are plentiful. By contrast, cafes and parks are sparse within the immediate neighborhood, which can modestly temper lifestyle appeal but rarely undermines workforce-oriented demand.
This neighborhood’s overall amenity position is competitive among Riverside–San Bernardino–Ontario neighborhoods, landing in the top quartile among 997 metro neighborhoods, which supports renter appeal for everyday needs. Childcare density scores well nationally, which can aid retention for family renters.
Within a 3-mile radius, population and household counts have grown in recent years, and forecasts point to additional population growth and a larger household base over the next five years. This expansion implies a larger tenant pool and supports occupancy stability. Median household incomes have also risen, while rent levels in the area remain positioned to sustain leasing velocity without overextending typical rent-to-income thresholds, based on CRE market data from WDSuite.
Ownership costs in the neighborhood are relatively high in national context, which tends to keep households engaged with multifamily options and can reinforce pricing power and lease retention for well-managed properties.
Safety signals are mixed and should be monitored. Overall crime performance sits near the national midpoint, with violent-offense conditions comparing above average nationally and improving year over year. Property-related incidents have shown recent volatility, so prudent security, lighting, and common-area visibility measures are advisable for resident satisfaction and retention.
Within the Riverside–San Bernardino–Ontario metro, the neighborhood’s crime rank places it around the middle of the pack among 997 neighborhoods, indicating neither an outlier risk nor a standout advantage. Investors should underwrite to current trends and track changes over time rather than relying on block-level assumptions.
Proximity to regional employers supports commuting convenience and a diversified renter base, led by corporate offices in food manufacturing, energy transport, waste services, pharmaceuticals, and medical distribution.
- General Mills — food manufacturing offices (18.2 miles)
- Kinder Morgan — energy transport offices (32.6 miles)
- Waste Management — environmental and waste services offices (33.9 miles)
- Gilead Sciences — pharmaceuticals offices (42.0 miles)
- Mckesson Medical Surgical — medical distribution offices (44.4 miles)
Built in 1988, the asset is newer than much of the surrounding housing stock, offering competitive positioning versus older inventory while still allowing targeted value-add or systems modernization where needed. Neighborhood-level renter concentration is high and occupancy has improved, signaling depth of tenant demand. According to CRE market data from WDSuite, daily-needs amenities are strong (groceries, pharmacies, restaurants), which helps support retention even as lifestyle amenities like parks and cafes are limited nearby.
Within a 3-mile radius, recent population growth and a projected increase in households suggest a larger tenant base ahead. Elevated ownership costs in the neighborhood context point to sustained reliance on rentals, supporting pricing power for well-managed communities. Investors should account for mixed but improving safety trends by incorporating appropriate site-level measures and underwriting to conservative assumptions on operating expenses.
- 1988 vintage: relatively newer versus local stock, with optional value-add and systems updates for competitive positioning
- High renter-occupied share and rising neighborhood occupancy support tenant depth and leasing stability
- Strong daily-needs amenities (groceries, pharmacies, restaurants) bolster retention and day-to-day convenience
- 3-mile growth outlook indicates a larger renter pool, reinforcing demand over the medium term
- Risks: mixed safety signals and limited park/cafe options; underwrite to prudent OPEX and consider security investments