| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Good |
| Demographics | 25th | Fair |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 23215 Ironwood Ave, Moreno Valley, CA, 92557, US |
| Region / Metro | Moreno Valley |
| Year of Construction | 1986 |
| Units | 92 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
23215 Ironwood Ave Moreno Valley Multifamily Investment
Neighborhood occupancy has held above national medians with a high renter-occupied share, pointing to a deep tenant base and steady leasing, according to WDSuite s CRE market data. Positioning within Moreno Valley offers durable workforce demand with pricing supported by a high-cost ownership market.
The property sits in a B+ neighborhood ranked 271 out of 997 within the Riverside San Bernardino Ontario metro, placing it above the metro median. Daily-needs access is a strength: grocery and pharmacy density ranks competitively among metro neighborhoods, while restaurant options are plentiful. Park and caf e9 density are limited, so on-site amenities and asset-level placemaking can matter more for retention.
Neighborhood occupancy is 94.5% and sits in the 68th percentile nationally, supporting a case for leasing stability. The share of housing units that are renter-occupied in the neighborhood is high (72.1%), indicating depth in the tenant pool and consistent multifamily demand; this is a neighborhood statistic, not a property-level rate. Median rents in the area have grown over the past five years, and the rent-to-income profile (low national percentile) suggests manageable affordability pressure that can aid renewals and limit turnover risk.
Within a 3-mile radius, population and household counts have expanded in recent years, with forecasts through 2028 pointing to continued population growth and a larger household base. Household sizes are trending smaller, which can add demand for professionally managed rental housing and support occupancy stability. These demographic patterns, based on CRE market data from WDSuite, reinforce the area s capacity to absorb units across typical lease-up cycles.
Elevated home values relative to incomes (high national percentile for value-to-income) characterize a high-cost ownership market. For investors, that context typically sustains reliance on rental housing and can support pricing power and lease retention, particularly for well-maintained assets with competitive finishes.
Safety signals are mixed and should be evaluated as part of underwriting. The neighborhood s crime rank is 907 out of 997 metro neighborhoods, indicating it trails the metro average and sits in lower national percentiles for safety. Recent year estimates also show increases in both violent and property offenses. Investors commonly address these conditions with targeted security measures, lighting, access controls, and resident engagement to support retention and operations.
As with any urban-core location, conditions can vary by block and over time. Compare trends for this neighborhood against submarket and city baselines, and align operating plans accordingly.
Nearby employers provide a diversified employment base that supports workforce housing demand and commute convenience for residents, including General Mills, Kinder Morgan, McKesson Medical Surgical, and Waste Management.
- General Mills consumer foods (6.9 miles)
- Kinder Morgan energy infrastructure (10.1 miles)
- McKesson Medical Surgical medical supplies distribution (24.0 miles)
- Waste Management environmental services (25.0 miles)
Constructed in 1986 with 92 units, the asset is newer than the neighborhood s average vintage, offering competitive positioning versus older stock while leaving room for targeted system upgrades or interior refreshes to drive rent trade-outs. Neighborhood occupancy sits above national medians and the renter-occupied share is high, pointing to a broad tenant base and support for lease stability. Elevated ownership costs in the area further reinforce reliance on multifamily housing, according to CRE market data from WDSuite.
Within a 3-mile radius, recent and forecast population and household growth suggest a larger renter pool over the next few years, while smaller household sizes can translate into steady demand for well-managed apartments. The local amenity mix favors daily-needs retail and restaurants, which complements workforce-oriented housing and supports resident retention, though limited parks and caf e9 density may place more emphasis on property-level amenities.
- 1986 vintage offers competitive standing versus older stock with potential value-add via targeted upgrades
- Above-median neighborhood occupancy and high renter-occupied share support leasing stability
- High-cost ownership market sustains renter reliance and can support pricing power
- 3-mile demographic growth and smaller household sizes expand the renter pool
- Risk: safety metrics trail metro averages; plan for security and resident-experience investments