| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Fair |
| Demographics | 20th | Poor |
| Amenities | 71st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1355 S Perris Blvd, Perris, CA, 92570, US |
| Region / Metro | Perris |
| Year of Construction | 1988 |
| Units | 32 |
| Transaction Date | 1997-09-16 |
| Transaction Price | $4,100,000 |
| Buyer | OREGON INVESTORS VI LTD PARTNERSHIP |
| Seller | CALIFORNIA INV IV |
1355 S Perris Blvd Perris Multifamily Investment
Neighborhood renter-occupied share is substantial and occupancy sits near the national midpoint, supporting steady tenant demand according to WDSuite’s CRE market data.
Located in Perris, California’s Inland Empire, the neighborhood scores B+ overall and ranks 349 out of 997 metro neighborhoods, placing it competitive among Riverside–San Bernardino–Ontario submarkets. Amenity access is a relative strength: grocery options track in the 95th percentile nationally, with restaurants and cafes in the low-80s percentiles, indicating convenient daily needs and dining within close reach.
At the property level, the 1988 vintage is newer than the neighborhood’s average construction year (1976). For investors, this typically means more competitive positioning versus older stock while still planning for selective modernization and systems upkeep typical of late-1980s assets.
Neighborhood occupancy is around the national midpoint, and the renter-occupied share is high for the area (about 60.8% of housing units are renter-occupied). For multifamily owners, that depth of renter-occupied stock signals a broad tenant base and supports leasing stability through cycles.
Within a 3-mile radius, demographics point to continued multifamily demand: population and households have grown over the last five years, with additional growth expected. Average household size is drifting lower, which often translates to more households entering the market and a larger tenant base. Elevated home values versus national norms (around the 75th percentile) suggest a high-cost ownership market that can sustain reliance on rental housing, supporting retention and pricing power.
Amenities round out livability: parks and pharmacies both sit in the low-80s national percentiles, reinforcing day-to-day convenience. School ratings in the area trend weak (around the bottom decile nationally), which may matter for some renter cohorts; investors can position units accordingly with value, space, or commute advantages to offset.
Safety indicators are mixed relative to the metro and nation. Overall crime ranks 609 out of 997 metro neighborhoods, which is below the metro median. Nationally, the neighborhood sits below average on safety, but year-over-year trends show improvement: both violent and property offense rates decreased over the past year, placing those declines in roughly the top third for improvement compared with neighborhoods nationwide. Investors should underwrite to current trends while recognizing that conditions vary by block and property operations (lighting, access control, and tenant screening) can influence on-site outcomes.
The area’s employment base mixes logistics, energy infrastructure, healthcare distribution, homebuilding, and technology manufacturing within commuting range, supporting workforce housing demand and lease retention for nearby multifamily.
- General Mills — food manufacturing/distribution (5.1 miles)
- Kinder Morgan — energy infrastructure (21.3 miles)
- Mckesson Medical Surgical — healthcare distribution (28.8 miles)
- Lennar Homes — homebuilding offices (30.3 miles)
- Western Digital — technology manufacturing (36.1 miles) — HQ
1355 S Perris Blvd offers 32 units in a neighborhood with renter demand supported by a sizable renter-occupied housing presence and occupancy near the national midpoint. The 1988 vintage is newer than the area’s average stock, providing a platform that can compete with older assets while leaving room for targeted value-add and systems modernization. Elevated ownership costs relative to national norms help sustain reliance on rentals, and within a 3-mile radius, population and household growth indicate a larger renter pool ahead. According to CRE market data from WDSuite, local amenities (notably grocery and daily-needs access) score well versus U.S. benchmarks, reinforcing day-to-day livability that supports leasing.
Risks to underwrite include school quality that trends weak and safety metrics that trail metro medians, even as recent year-over-year offense rates have improved. With prudent capital planning and asset management, positioning toward workforce households and commute convenience can help maintain steady occupancy and retention.
- 1988 construction offers competitive positioning versus older neighborhood stock with value-add potential
- Renter-occupied share is high locally, supporting depth of tenant demand and leasing stability
- Elevated ownership costs versus national norms reinforce sustained reliance on multifamily rentals
- Amenity access (grocery, restaurants, parks) compares favorably nationally, aiding retention
- Risk: safety and school ratings trail metro medians; continued improvements and active management are key