| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Fair |
| Demographics | 27th | Fair |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 16787 Miller Ave, Fontana, CA, 92336, US |
| Region / Metro | Fontana |
| Year of Construction | 1972 |
| Units | 64 |
| Transaction Date | 2012-10-26 |
| Transaction Price | $5,400,000 |
| Buyer | Tayebi Sierra LLC |
| Seller | On Miller Avenue LLC |
16787 Miller Ave, Fontana CA — Multifamily with Solid Renter Demand
Neighborhood occupancy remains firm and renter concentration is high, supporting depth of the tenant base, according to WDSuite’s CRE market data. Positioning focuses on stable cash flow drivers in an inner-suburban location rather than outsized rent growth.
The property sits in an Inner Suburb neighborhood of Fontana rated A- and ranked 178 out of 997 within the Riverside–San Bernardino–Ontario metro, placing it competitive among metro neighborhoods. Local occupancy for the neighborhood is 96.3%, pointing to steady leasing conditions rather than frequent turnover.
Daily needs are well served: grocery, pharmacy, and restaurant density rank near the top of the metro and well above national averages, which helps retention and reduces resident friction. Cafe options are comparatively strong, while formal childcare options are limited, a consideration for family-oriented leasing strategies.
Renter-occupied share is 68.7% at the neighborhood level (top decile nationally), indicating a deep pool of multifamily users that can support absorption and renewal activity. Median home values are elevated for the area and value-to-income ratios are high, which tends to sustain reliance on rental housing and can support pricing power when managed thoughtfully.
Within a 3-mile radius, population and households have expanded over the last five years, and WDSuite data points to further household gains ahead. This suggests a larger tenant base and supports occupancy stability even as household sizes trend modestly smaller, creating incremental demand for rental units.
The asset’s 1972 vintage is slightly newer than the neighborhood’s average construction year (1962). That relative youth versus older local stock can aid competitiveness, though investors should still plan for system updates and targeted renovations typical for properties of this era to capture value-add upside.
Relative to the Riverside–San Bernardino–Ontario metro, the neighborhood’s overall crime rank is 183 out of 997, which is competitive among metro neighborhoods and aligns with mid-to-better performance nationally (63rd percentile for safety). This positioning generally supports renter appeal and lease retention for workforce-oriented assets.
Recent estimates indicate mixed trends: property-related incidents have increased year over year, while violent-offense indicators show some improvement. For underwriting, this argues for standard security measures, lighting, and access controls, along with attentive property management to maintain resident confidence without assuming outsized risk reductions.
Nearby employment nodes span energy infrastructure, food manufacturing, waste services, medical supply distribution, and transportation—providing a broad commuter base that supports renter demand and leasing stability at workforce price points.
- Kinder Morgan — energy infrastructure (5.5 miles)
- General Mills — food manufacturing (8.2 miles)
- Waste Management — waste services (16.1 miles)
- Mckesson Medical Surgical — medical supply distribution (17.0 miles)
- Ryder Vehicle Sales — transportation & fleet (18.1 miles)
This 64-unit 1972 community benefits from a high renter concentration and steady neighborhood occupancy, supporting consistent leasing and renewal potential. Elevated ownership costs in the area reinforce reliance on multifamily housing, while strong amenity access (groceries, pharmacies, restaurants) helps retention. According to CRE market data from WDSuite, the neighborhood ranks competitively within the metro and shows household growth within a 3-mile radius, expanding the tenant base and supporting occupancy stability.
Vintage creates a clear value-add path: systems and interiors typical of early-1970s construction can be modernized to enhance competitive positioning against older local stock. Underwriting should account for resident affordability management (given rent-to-income dynamics) and routine safety best practices as property crime trends have been mixed.
- High renter concentration supports absorption and renewal stability
- Neighborhood occupancy remains solid with competitive metro ranking
- Elevated ownership costs sustain multifamily demand and pricing power
- 1972 vintage offers targeted value-add and systems modernization upside
- Risks: affordability pressures and mixed property-crime trends warrant prudent management