| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Good |
| Demographics | 25th | Fair |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 23815 Hemlock Ave, Moreno Valley, CA, 92557, US |
| Region / Metro | Moreno Valley |
| Year of Construction | 1979 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
23815 Hemlock Ave Moreno Valley Multifamily Investment
Neighborhood fundamentals point to steady renter demand and occupancy stability, according to WDSuite’s CRE market data. Investor takeaway: a high renter concentration in the area supports leasing durability for a 20-unit asset in Riverside County.
Situated in Moreno Valley’s Urban Core, the neighborhood rates B+ (ranked 271 among 997 metro neighborhoods), signaling performance that is above the metro median. Daily-needs access is a strength: grocery and pharmacy density rank competitively among Riverside–San Bernardino–Ontario neighborhoods and sit in the top quartile nationally, aiding resident convenience and retention. Restaurant options also score in the top decile nationally, though parks and cafes are limited within the immediate area.
For multifamily operations, neighborhood occupancy is in the upper third nationally and has improved over the last five years, indicating resilient demand. The share of renter-occupied housing units is high for the area (ranked 40 of 997; top percentile nationally), which expands the tenant base and supports leasing velocity for workforce-oriented product.
Within a 3-mile radius, demographics show recent population growth and a rising household count, with projections calling for further increases through the next five years. This implies a larger tenant pool and supports occupancy stability, while a moderate rent-to-income profile at the neighborhood level suggests manageable affordability and potential for disciplined rent optimization.
Home values sit in a high national percentile, indicating a high-cost ownership market for many households. In investor terms, higher ownership costs tend to sustain reliance on rental housing, which can reinforce pricing power and lease retention for well-managed multifamily assets.
Safety indicators trend weaker than both metro and national averages. The neighborhood’s safety rank sits in the lower tier among 997 metro neighborhoods, and national percentiles indicate below-average safety compared with neighborhoods nationwide. Recent year-over-year estimates also point to an uptick in both property and violent offenses. Investors should underwrite with prudent loss-prevention measures and asset-level security planning, and monitor city and neighborhood initiatives that could support improvement over time.
Proximity to diversified employers supports local renter demand and commute convenience, with a mix of consumer goods, energy infrastructure, medical distribution, environmental services, and logistics within commuting range.
- General Mills — consumer goods (6.5 miles)
- Kinder Morgan — energy infrastructure (10.6 miles)
- Mckesson Medical Surgical — medical supply distribution (24.5 miles)
- Waste Management — environmental services (25.6 miles)
- Ryder Vehicle Sales — logistics & fleet services (28.5 miles)
This 20-unit asset benefits from neighborhood demand drivers that favor renter retention: occupancy trends sit in the upper third nationally, and the area’s high share of renter-occupied housing units deepens the tenant base. Within a 3-mile radius, recent and projected increases in households point to renter pool expansion, supporting leasing stability and disciplined rent growth over the hold period. High ownership costs locally further encourage reliance on multifamily housing, which can bolster pricing power when paired with prudent management.
According to CRE market data from WDSuite, neighborhood amenities skew toward daily-needs access (groceries, pharmacies, restaurants) that residents value, offset by fewer parks and cafes. Underwriting should account for below-average safety metrics with appropriate operating practices, while still recognizing the demand-side benefits of strong renter concentration and growing households.
- Occupancy in the upper third nationally supports income stability
- High renter-occupied housing share expands tenant base and leasing depth
- 3-mile household growth outlook supports sustained demand and rent optimization
- Daily-needs amenities (groceries, pharmacies, restaurants) aid retention despite fewer parks/cafes
- Risk: below-average safety metrics warrant enhanced security and conservative underwriting