| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 23rd | Poor |
| Amenities | 44th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1624 W Rialto Ave, Fontana, CA, 92335, US |
| Region / Metro | Fontana |
| Year of Construction | 2008 |
| Units | 120 |
| Transaction Date | 2013-03-01 |
| Transaction Price | $15,000,000 |
| Buyer | Cielo Vista Apartments LLC |
| Seller | Phoenix Realty Group |
1624 W Rialto Ave Fontana Multifamily Investment
Neighborhood fundamentals point to steady renter demand and solid occupancy, according to WDSuite’s CRE market data. With newer stock relative to local averages and a high-cost ownership backdrop, this asset sits in a corridor where leasing stability tends to be durable.
Located in Fontana within the Riverside–San Bernardino–Ontario metro, the neighborhood carries a B rating and ranks above the metro median among 997 neighborhoods. Multifamily performance indicators are constructive: neighborhood occupancy is above national medians and net operating income per unit trends in the top quartile nationally, based on CRE market data from WDSuite.
Livability supports working households. Grocery access is strong and childcare density is high relative to peers, while restaurants are present at moderate levels. Cafes, parks, and pharmacies are limited in immediate proximity, which can modestly constrain walkable lifestyle appeal but does not materially detract from day-to-day convenience for most renters.
Tenure patterns signal depth in the renter pool: a large share of housing units in the neighborhood are renter-occupied, indicating a broad base of prospective tenants and supporting lease-up and retention. At the same time, a high-cost ownership market in San Bernardino County reinforces reliance on rental options, which can aid pricing power and occupancy management.
Within a 3-mile radius, demographics show modest population growth with a faster increase in households and rising incomes. Projections call for continued household expansion and slightly smaller average household sizes, which together point to a larger tenant base and support for occupancy stability and rent growth management over the medium term.
Vintage considerations: built in 2008, the property is newer than the neighborhood’s average vintage. That typically enhances competitive positioning versus older stock, while still warranting ongoing planning for systems upkeep and selective modernization to sustain rentability.
Safety indicators are generally above national medians for this neighborhood. Violent and property offense metrics benchmark in the top quartile nationally for safety, while overall crime conditions track above the metro average among 997 neighborhoods. Recent year trends show some volatility in property-related incidents versus prior periods, suggesting ongoing monitoring is prudent.
For investors, this profile translates to a setting that supports resident retention and leasing, with standard risk management practices advisable given recent fluctuations.
The surrounding employment base mixes energy infrastructure, food manufacturing/distribution, environmental services, medical distribution, and logistics. Proximity to these employers can underpin workforce housing demand and support resident retention through commute convenience.
- Kinder Morgan — energy infrastructure (3.5 miles)
- General Mills — food manufacturing & distribution (9.2 miles)
- Waste Management — environmental services (17.6 miles)
- Mckesson Medical Surgical — medical distribution (18.2 miles)
- Ryder Vehicle Sales — fleet sales & logistics (19.8 miles)
This 2008, 120-unit asset with larger-than-typical average unit sizes positions well against older neighborhood stock while benefiting from renter demand supported by high-cost ownership dynamics in San Bernardino County. Neighborhood occupancy trends sit above national medians and NOI per unit benchmarks in the top quartile nationally, according to CRE market data from WDSuite, pointing to durable performance potential.
Within a 3-mile radius, modest population growth alongside a faster rise in households and incomes indicates a gradually expanding renter base. Nearby employers across logistics, energy infrastructure, food distribution, and healthcare services provide a diversified employment backdrop that supports leasing velocity and retention. Key watch items include limited café/park amenities in the immediate area and recent variability in property-related offense trends, best addressed through standard asset and resident security practices.
- 2008 vintage competitive versus older neighborhood stock; plan for selective modernization to sustain rentability
- Above-median neighborhood occupancy and strong NOI per unit support stable cash flow potential
- Expanding household counts and rising incomes within 3 miles point to a larger tenant base over time
- Diverse nearby employers bolster workforce housing demand and retention
- Risks: limited café/park amenities and recent property-offense volatility warrant ongoing monitoring