| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Fair |
| Demographics | 20th | Poor |
| Amenities | 71st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 391 W 6th St, Perris, CA, 92570, US |
| Region / Metro | Perris |
| Year of Construction | 2007 |
| Units | 35 |
| Transaction Date | 2014-07-01 |
| Transaction Price | $7,050,000 |
| Buyer | PFP Real Estate Holdings LC |
| Seller | Hanna Heights LLC (Regional Bank) |
391 W 6th St Perris Multifamily Investment Opportunity
Neighborhood occupancy near the metro median and a majority renter-occupied housing base support steady tenant demand, according to WDSuite’s CRE market data.
Located in Perris within the Riverside–San Bernardino–Ontario metro, the neighborhood rates B+ and is ranked 349 out of 997 metro neighborhoods—competitive among Inland Empire locations for day-to-day livability and renter demand. The area’s renter-occupied share is high for the metro (ranked 93 of 997), indicating a deep tenant base and support for multifamily leasing stability.
Amenity access is a relative strength: grocery options rank in the national top decile, with restaurants, parks, and pharmacies all in the 80th–85th national percentiles. Cafe density is also above national norms. Childcare options are limited locally, which may influence unit mix and marketing strategy toward households that prioritize nearby services.
The property’s 2007 vintage positions it newer than the neighborhood’s average 1970s housing stock. That typically enhances competitive standing versus older assets, while still warranting consideration for mid-life system updates and selective renovations to sustain rent positioning.
Demographics aggregated within a 3-mile radius show population and household growth over the last five years, with forecasts indicating continued household expansion by 2028. This points to a larger tenant base and supports occupancy stability for well-managed assets. Median home values sit in a higher national percentile, reflecting a high-cost ownership market that can reinforce reliance on rental housing. Neighborhood rent-to-income levels are moderate, suggesting room for disciplined rent management without outsized retention risk.
Safety trends are mixed. Relative to other U.S. neighborhoods, the area sits below the national median for safety; within the metro it ranks 609 out of 997, which is below the metro median. However, recent year-over-year data indicate improving conditions, with both violent and property offense rates declining, according to WDSuite’s CRE market data.
For underwriting, investors may want to incorporate conservative assumptions on security expenses and lease-up timing while recognizing the directional improvement in reported offense rates.
Nearby employers offer a mix of corporate offices and logistics-adjacent roles that support local renter demand through commute convenience. The list below focuses on organizations with a presence within commuting distance, relevant to workforce housing dynamics.
- General Mills — consumer foods (4.7 miles)
- Kinder Morgan — energy infrastructure (20.7 miles)
- Mckesson Medical Surgical — medical distribution (28.2 miles)
- Lennar Homes — homebuilding (29.9 miles)
- Waste Management — waste services (30.2 miles)
This 35-unit asset benefits from a renter-heavy neighborhood and amenity access that is strong by national standards, supporting leasing durability. The 2007 construction is newer than much of the surrounding 1970s stock, offering competitive positioning versus older properties while allowing for targeted value-add through system refreshes and common-area updates. Based on commercial real estate analysis from WDSuite, neighborhood occupancy sits near the metro median and rent-to-income levels appear manageable, with elevated ownership costs in the area reinforcing sustained renter demand.
Within a 3-mile radius, recent and projected growth in population and households points to a larger tenant base through the medium term. Risks to underwrite include below-average school ratings, limited childcare access, and safety metrics that, while improving, remain below national medians. Prudent capital planning and resident-experience investments can help maintain pricing power and retention.
- Renter-heavy neighborhood supports depth of tenant demand and occupancy stability.
- 2007 vintage offers competitive edge over older local stock with selective value-add potential.
- Strong amenity access (grocery, dining, parks) enhances livability and leasing appeal.
- Demographic growth within 3 miles expands the prospective renter pool over time.
- Risks: below-national-median safety and school ratings; plan for security and resident-experience investments.