| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Good |
| Demographics | 42nd | Good |
| Amenities | 38th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2660 Clark Ave, Norco, CA, 92860, US |
| Region / Metro | Norco |
| Year of Construction | 1997 |
| Units | 40 |
| Transaction Date | 2024-01-31 |
| Transaction Price | $19,700,000 |
| Buyer | CLARK TERRACE LP |
| Seller | MOUNTAIN PARK TERRACE INC |
2660 Clark Ave Norco Multifamily Investment Opportunity
Elevated home values and a moderate renter base point to durable leasing fundamentals in this Riverside County suburb, according to WDSuite’s CRE market data. Neighborhood occupancy trends sit above national medians, suggesting stable income potential with prudent asset management.
Norco is a suburban pocket within the Riverside–San Bernardino–Ontario metro with a B neighborhood rating, offering investors a blend of steady renter demand and family-oriented amenities. Parks are a relative strength, ranking 154th among 997 metro neighborhoods (top quartile locally) and tracking in the top quartile nationally for park access, which supports quality-of-life appeal and lease retention.
Daily needs are serviceable: grocery access ranks 405th of 997 (competitive among Riverside–San Bernardino neighborhoods) and restaurants rank 323rd (also competitive), though cafes and pharmacies are sparse. Average school ratings sit in the top 30% nationally, a family draw that can help reduce turnover in larger units.
The neighborhood’s renter-occupied share is moderate (roughly three-tenths of housing units), indicating a stable but not saturated tenant base. Within a 3-mile radius, demographics show households edging higher despite softer population trends, with smaller average household sizes over the forecast window. This rebalancing typically supports multifamily absorption by expanding the number of renting households.
Homeownership is high-cost by regional standards, with neighborhood home values and value-to-income measures in high national percentiles. In investor terms, a high-cost ownership market tends to reinforce renter reliance on multifamily housing, supporting pricing power and lease-up resiliency when paired with balanced rent-to-income levels.
Built in 1997, the property is newer than the neighborhood’s average vintage (late 1970s). That relative age advantage can enhance competitive positioning versus older stock, while still allowing for targeted modernization and systems updates as part of a value-add plan.
Safety indicators for the neighborhood are mixed and should be framed comparatively. Overall crime levels track around the metro median among 997 Riverside–San Bernardino–Ontario neighborhoods and near the national midpoint. Property crime sits below stronger national percentiles (indicating higher incidence than many areas), but the most recent year reflects a notable improvement trend. Violent crime measures are also below stronger national percentiles, with year-over-year declines that suggest conditions have been easing.
For underwriting, this points to a market where prudent security, lighting, and access controls remain relevant, while recent trend improvements may support leasing stability and insurance discussions. Always validate current conditions with on-the-ground checks.
Proximity to diversified employers supports a commuter-friendly renter base, with nearby roles spanning medical distribution, consumer foods, waste services, logistics, and energy infrastructure.
- Mckesson Medical Surgical — medical distribution (7.0 miles)
- General Mills — consumer foods (7.3 miles)
- Waste Management — waste services (9.2 miles)
- Ryder Vehicle Sales — logistics & vehicle sales (12.1 miles)
- Kinder Morgan — energy infrastructure (14.6 miles)
2660 Clark Ave is a 40-unit, 1997-vintage asset positioned in a high-cost ownership market where elevated home values and a moderate renter concentration support durable multifamily demand. Neighborhood occupancy trends score above national medians, and within a 3-mile radius, forecasts point to more households and a slightly higher renter share as household sizes decline — dynamics that typically expand the tenant base and support steady absorption. Based on CRE market data from WDSuite, amenity access is strongest in parks and broadly competitive for groceries and dining, with schools testing above national averages — a practical backdrop for retention in family-oriented floor plans.
The relative youth of the asset versus local housing stock provides a competitive edge over 1970s-era properties, while leaving room for targeted renovations to capture premium rents and reduce long-term capital surprises. Key risks include uneven retail amenity depth (notably limited cafes/pharmacies), mixed safety benchmarks despite recent improvements, and modest population drift that places more emphasis on capturing household growth. These are manageable with disciplined operations and focused capital planning.
- Newer 1997 vintage vs. local average supports competitive positioning and targeted value-add
- High-cost ownership market reinforces rental demand and pricing power
- 3-mile outlook shows rising households and renter share, aiding tenant base expansion
- Parks, grocery, and dining access bolster livability and retention; schools test above national averages
- Risks: amenity gaps (cafes/pharmacies), mixed safety metrics, and population softness require proactive management