| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Good |
| Demographics | 14th | Poor |
| Amenities | 55th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 16991 Merrill Ave, Fontana, CA, 92335, US |
| Region / Metro | Fontana |
| Year of Construction | 1979 |
| Units | 22 |
| Transaction Date | 2000-10-05 |
| Transaction Price | $785,000 |
| Buyer | WOODMAN REALTY INC |
| Seller | LAU CHI YEUNG |
16991 Merrill Ave Fontana Multifamily Investment
This 22-unit property benefits from neighborhood-level occupancy of 98.5%, ranking in the top 20% nationally and indicating strong rental demand fundamentals according to CRE market data from WDSuite.
The property sits in an Urban Core neighborhood of Fontana with a B rating among the 997 neighborhoods tracked in the Riverside-San Bernardino-Ontario metro area. Built in 1979, this vintage aligns with the neighborhood average construction year of 1972, suggesting potential value-add opportunities through strategic renovations and modernization.
Rental housing dominates the local market, with 62.7% of housing units occupied by renters—ranking in the top 5% nationally and creating a deep tenant pool. Neighborhood-level occupancy remains exceptionally strong at 98.5%, ranking in the 92nd percentile nationwide and indicating sustained rental demand. Contract rents average $1,387, positioning competitively within the metro while maintaining affordability for the local workforce.
Demographics within a 3-mile radius show a stable renter base with 153,164 residents and household incomes averaging $79,078. Home values of $447,666 represent a 57% increase over five years, with ownership costs at 6.9 times median income—well above national norms. This elevated ownership threshold sustains rental demand and supports tenant retention, as high purchase prices limit accessibility to homeownership for much of the local workforce.
The neighborhood offers solid amenity access with restaurants, cafes, and parks above metro averages, supporting tenant appeal and retention. However, childcare and pharmacy access rank below regional norms, which may influence family demographics and convenience expectations among prospective tenants.
Crime metrics show mixed signals requiring careful evaluation. Property crime rates of 15.7 incidents per 100,000 residents rank in the 85th percentile nationally, indicating relatively low property crime compared to neighborhoods nationwide. Additionally, property crime declined 35.2% year-over-year, ranking in the 78th percentile for improvement trends among metro neighborhoods.
However, violent crime presents a different profile, with rates increasing 167.8% year-over-year, though this ranks in the bottom quartile among the 997 metro neighborhoods for year-over-year change. The absolute violent crime rate remains low at 3.6 incidents per 100,000 residents, ranking in the 87th percentile nationally. Investors should monitor these trends as part of ongoing market evaluation and tenant retention considerations.
The area benefits from proximity to several major corporate employers, providing workforce housing opportunities for commuting professionals and supporting stable rental demand.
- Kinder Morgan — energy infrastructure (4.4 miles)
- General Mills — food manufacturing (7.4 miles)
- Waste Management — environmental services (15.7 miles)
- Mckesson Medical Surgical — healthcare distribution (16.4 miles)
- Ryder Vehicle Sales — transportation services (18.0 miles)
This 22-unit property offers compelling fundamentals anchored by exceptional neighborhood occupancy of 98.5%, ranking in the 92nd percentile nationally. The Urban Core location benefits from a deep renter pool, with 62.7% of housing units occupied by renters—among the top 5% nationally. Built in 1979, the vintage presents value-add potential through strategic renovations while remaining competitive within the neighborhood's similar building stock.
Demographics within a 3-mile radius support stable demand, with 153,164 residents and household incomes averaging $79,078. Elevated home values at 6.9 times median income reinforce rental demand by limiting ownership accessibility. According to multifamily property research from WDSuite, the combination of high occupancy rates, strong renter concentration, and workforce proximity creates favorable conditions for sustained performance.
- Exceptional 98.5% neighborhood occupancy ranking in top 10% nationally
- Strong renter concentration at 62.7% of housing units, top 5% nationally
- Value-add potential through strategic renovations of 1979 vintage
- Elevated ownership costs sustain rental demand and tenant retention
- Risk: Violent crime trends require ongoing monitoring despite low absolute rates