| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Fair |
| Demographics | 36th | Fair |
| Amenities | 18th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 342 Wilkerson Ave, Perris, CA, 92570, US |
| Region / Metro | Perris |
| Year of Construction | 1992 |
| Units | 38 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
342 Wilkerson Ave Perris Multifamily Investment
Built in 1992, this 38-unit asset sits in a suburban pocket where neighborhood occupancy is steady and renter demand is supported by population and income gains within 3 miles, according to WDSuite s CRE market data. The property s newer vintage versus area stock positions it competitively while allowing room for targeted upgrades.
Livability around the asset is suburban and car-oriented, with some dining options nearby (restaurant density trends near the national middle), while parks, pharmacies, childcare, and cafés are limited compared with many U.S. neighborhoods. Average school ratings are roughly mid-pack nationally, signaling adequate but not distinguishing K–12 performance for workforce households.
For investors, local leasing conditions are relatively stable: neighborhood occupancy trends slightly above the national median, and rents have risen over the last five years. Within a 3-mile radius, demographic data show population and households expanding, which supports a larger tenant base and helps sustain occupancy over time.
Tenure patterns signal a moderate renter base. The immediate neighborhood shows a renter-occupied share below half, while the 3-mile area is closer to two-fifths renter-occupied, indicating sufficient depth for multifamily leasing without overreliance on transient demand.
Ownership costs are elevated for the area (home values and value-to-income ratios test well above national medians), which typically reinforces reliance on rental housing and can aid lease retention. At the same time, rent-to-income levels sit around the better half of national readings, suggesting manageable affordability pressure that can support pricing power and reduce turnover risk.
Safety indicators are mixed but improving. Historically, the neighborhood ranked on the higher side for crime within the Riverside–San Bernardino–Ontario metro (ranked 238 out of 997 metro neighborhoods), yet recent trends show meaningful declines in both violent and property offense rates, placing the area on an improving trajectory compared with many neighborhoods nationwide.
Investors should interpret this as a directional positive: recent year-over-year decreases outpace typical national improvements, which can support leasing stability and resident retention. As always, property-level measures and tenant screening remain important, given variability within sub-areas of any neighborhood.
Nearby employers provide a diversified workforce draw that supports renter demand and commute convenience, notably in food manufacturing, energy infrastructure, healthcare distribution, homebuilding, and environmental services.
- General Mills food manufacturing offices (4.5 miles)
- Kinder Morgan energy infrastructure (20.8 miles)
- McKesson Medical Surgical healthcare distribution (28.8 miles)
- Lennar Homes homebuilding (30.8 miles)
- Waste Management environmental services (30.8 miles)
This 38-unit, 1992-vintage property is newer than the area s average housing stock, offering competitive positioning versus older assets while leaving room for selective modernization to capture value-add upside. Neighborhood occupancy trends slightly above the national median and the surrounding 3-mile area shows population and household growth, which supports a deeper tenant base and steadier leasing.
Elevated ownership costs locally bolster multifamily demand and, paired with rent-to-income readings in the healthier half of national metrics, can aid retention and measured rent growth. According to CRE market data from WDSuite, recent crime trends are improving and median contract rents have moved higher over the past five years, supporting a durable cash-flow outlook while warranting disciplined expense and CapEx planning.
- 1992 construction offers competitive positioning with targeted value-add potential
- Neighborhood occupancy slightly above national median supports leasing stability
- 3-mile population and household growth expand the renter pool
- Elevated ownership costs reinforce rental reliance and pricing power
- Risks: thinner amenity base and historically higher crime, though trends are improving