| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 74th | Best |
| Amenities | 87th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 40024 Harveston Dr, Temecula, CA, 92591, US |
| Region / Metro | Temecula |
| Year of Construction | 2008 |
| Units | 117 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
40024 Harveston Dr Temecula Multifamily Investment
Neighborhood fundamentals point to durable renter demand and steady occupancy, according to CRE market data from WDSuite. Strong local incomes and a high-cost ownership market support retention and pricing power for well-run assets in Temecula.
The property sits in an Inner Suburb pocket of Temecula with broad lifestyle coverage: restaurants, grocery, cafes, parks, and pharmacies all score in the upper national percentiles, and amenity access ranks in the Top quartile among 997 metro neighborhoods. Average school ratings are strong as well, with the area positioned in the Top quartile among 997 metro neighborhoods, a draw for family renters and longer stays.
For investors, the local rent and income backdrop is favorable. Neighborhood contract rents are high by national standards while rent-to-income sits near the lower national quintiles, reinforcing manageable affordability pressure and helping support renewals. Home values trend well above national norms; in a high-cost ownership market, this typically sustains reliance on multifamily housing and can bolster lease retention for competitive product.
Operationally, neighborhood occupancy is around the national middle, suggesting stable leasing conditions rather than peak tightness. At the same time, neighborhood-level NOI per unit performance benchmarks in the top quartile nationally, indicating operators are capturing solid revenue relative to expenses. Together, these signals favor disciplined pricing and active asset management over heavy concessions.
Demographics aggregated within a 3-mile radius show a modest dip in population alongside growth in total households and a trend toward smaller average household sizes. For multifamily, that typically translates to a larger tenant base over time and supports occupancy stability. Household incomes have risen meaningfully, which can underpin rent growth on renewals where value is demonstrated through maintenance, amenities, and service.
Neighborhood safety metrics are roughly around the metro average overall, with recent trends improving. Compared with other areas nationwide, the neighborhood sits near the middle of the pack, but both property and violent incident rates have seen notable year-over-year declines, which is a constructive signal for long-term stability.
Within the Riverside–San Bernardino–Ontario metro, the neighborhood’s crime profile is competitive among peers rather than a standout. The recent downward movement in both property and violent categories suggests momentum is favorable, but investors should underwrite continued security, lighting, and community-engagement measures to support retention.
Proximity to diversified corporate offices supports a commuter tenant base and leasing stability. The employers below represent regional anchors accessible from Temecula and can help sustain renter demand.
- General Mills — corporate offices (21.7 miles)
- Gilead Sciences — corporate offices (24.4 miles)
- NRG Energy — corporate offices (30.1 miles)
- Lennar Homes — corporate offices (34.1 miles)
- Western Digital — corporate offices (40.7 miles) — HQ
40024 Harveston Dr offers scale at 117 units in a Riverside County submarket where amenity access and school quality rank in the Top quartile among 997 metro neighborhoods. Neighborhood occupancy trends near the national middle while NOI per unit benchmarks in the upper national percentiles, a combination that favors steady cash flow for well-operated assets. High home values relative to incomes indicate a high-cost ownership market, which typically sustains renter reliance on multifamily and supports retention.
Within a 3-mile radius, total households are edging higher as average household size contracts, expanding the renter pool even as overall population is roughly flat. Rising household incomes and rent levels, paired with manageable rent-to-income ratios, suggest room for disciplined rent growth where value is evident, based on CRE market data from WDSuite.
- Amenity-rich, school-strong location—Top quartile positioning among 997 metro neighborhoods
- Stable neighborhood occupancy with upper-percentile NOI per unit benchmarks
- High-cost ownership market reinforces renter reliance and lease retention
- 3-mile household growth and smaller household sizes expand the tenant base
- Risk: safety sits near metro averages despite recent improvement—underwrite ongoing security and community measures