| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Poor |
| Demographics | 43rd | Good |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 773 Knickerbocker Rd, Big Bear Lake, CA, 92315, US |
| Region / Metro | Big Bear Lake |
| Year of Construction | 2011 |
| Units | 42 |
| Transaction Date | 2009-12-02 |
| Transaction Price | $1,600,000 |
| Buyer | UHC 00415 BIG BEAR LAKE LP |
| Seller | TRULY SAND LLC |
773 Knickerbocker Rd Big Bear Lake Multifamily Investment
This 42-unit property built in 2011 operates in a mountain resort market with above-average home values and limited rental stock. CRE market data from WDSuite indicates the neighborhood maintains strong recreational amenities while facing seasonal occupancy dynamics typical of resort communities.
Big Bear Lake represents a specialized mountain resort market within the Riverside-San Bernardino-Ontario metro area. Demographics within a 3-mile radius show a population of approximately 4,200 residents, with household income averaging $72,726 and forecasted growth to $102,409 by 2028. The area's rental housing comprises 36.4% of total units, creating a defined but limited tenant pool focused on seasonal workers and year-round residents.
The neighborhood ranks in the 92nd national percentile for park access, reflecting Big Bear's recreation-focused economy, while restaurant density reaches the 95th percentile nationally, supporting the tourism infrastructure. However, essential services show gaps, with no cafes, pharmacies, or childcare facilities per square mile within the immediate area. Grocery access performs well at the 79th national percentile, providing basic convenience for residents.
Housing dynamics reveal median home values of $429,066, representing the 79th national percentile and creating affordability pressure that reinforces rental demand among service workers and seasonal employees. The property's 2011 construction year positions it as newer than the neighborhood average of 1970, potentially reducing near-term capital expenditure needs. Occupancy rates in the broader neighborhood remain challenging at 24.6%, ranking 988th among 997 metro neighborhoods, reflecting the seasonal nature of Big Bear's employment base.
Rent trends show median contract rents of $962 with modest 5-year growth of 44.9%, while demographic projections indicate household formation growth of 42.3% through 2028. This expansion, combined with forecast median rent increases to $1,768, suggests strengthening fundamentals despite current occupancy headwinds typical of resort markets.
Crime metrics for the Big Bear Lake area show mixed performance relative to regional and national benchmarks. Property crime rates of 683.5 per 100,000 residents rank 686th among 997 metro neighborhoods, placing the area in the 31st national percentile. However, recent trends show improvement, with property crime declining 16.4% year-over-year, ranking in the 60th percentile for crime reduction nationwide.
Violent crime remains relatively contained at 38.6 incidents per 100,000 residents, ranking 554th among metro neighborhoods and reaching the 47th national percentile. Year-over-year violent crime showed minimal change at -0.4%, suggesting stable conditions. The neighborhood's overall crime ranking of 534th among 997 metro areas indicates moderate safety performance, with recent improvements in property crime providing a positive trend for investor consideration.
Employment opportunities in the Big Bear Lake area rely primarily on tourism and seasonal businesses, with major corporate employers located in the broader San Bernardino region supporting commuter demand.
- Kinder Morgan — energy infrastructure (29.1 miles)
- General Mills — food manufacturing (32.9 miles)
- General Mills — food manufacturing (38.7 miles)
The 42-unit property at 773 Knickerbocker Rd presents a specialized resort market opportunity with both seasonal challenges and demographic tailwinds. Built in 2011, the asset benefits from newer construction relative to the 1970 neighborhood average, potentially reducing near-term maintenance capital requirements. According to multifamily property research from WDSuite, household formation is projected to increase 42.3% through 2028, while median rents are forecast to rise from $962 to $1,768, indicating strengthening rental fundamentals despite current occupancy pressures.
The investment case centers on Big Bear's unique position as a mountain resort community with limited rental stock and elevated home values at $429,066 median. This pricing dynamic reinforces rental demand among service workers and seasonal employees who cannot access ownership. However, investors must navigate the 24.6% neighborhood occupancy rate, which ranks among the lowest in the metro area and reflects the inherent seasonality of resort markets.
- Newer 2011 construction reduces immediate capital expenditure needs
- Forecast 42.3% household growth supports long-term tenant demand
- High home values at $429,066 median reinforce rental market reliance
- Limited rental stock creates competitive positioning in resort market
- Risk: 24.6% neighborhood occupancy reflects seasonal employment volatility