| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Good |
| Demographics | 14th | Poor |
| Amenities | 55th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 17017 Merrill Ave, Fontana, CA, 92335, US |
| Region / Metro | Fontana |
| Year of Construction | 1986 |
| Units | 60 |
| Transaction Date | 2000-09-18 |
| Transaction Price | $2,375,000 |
| Buyer | WOODMAN REALTY INC |
| Seller | P I PROPERTIES #51 LP |
17017 Merrill Ave, Fontana CA Multifamily Investment
Stabilized renter demand and high neighborhood occupancy suggest resilient income potential, according to WDSuite’s CRE market data. With elevated ownership costs in the metro, the asset benefits from a larger renter pool and steady leasing fundamentals.
Located in Fontana’s Urban Core, the property sits in a neighborhood rated B with occupancy that ranks in the top quartile among 997 metro neighborhoods and the 92nd percentile nationally. This indicates strong leasing stability at the neighborhood level, supported by a renter-occupied share of housing units around the top decile metro-wide and the 95th percentile nationally — a meaningful signal of depth in the tenant base for multifamily investors.
Amenity access is competitive among Riverside–San Bernardino–Ontario neighborhoods, with parks (top quartile nationally), restaurants (81st percentile), cafes (86th percentile), and grocery presence (70th percentile) providing daily convenience. Childcare and pharmacy density are limited, which may modestly affect certain renter cohorts, but overall amenity balance aligns with workforce housing needs.
Within a 3-mile radius, population and household counts have grown in recent years, and forecasts point to further household expansion alongside slightly smaller average household sizes. For investors, this pattern typically supports a larger tenant base and sustained absorption of rental units. Median household incomes have risen meaningfully in this 3-mile radius, reinforcing the area’s capacity to support rent levels while still requiring attention to affordability thresholds in lease management.
Neighborhood home values sit at a high-cost ownership level (80th–90th percentiles nationally), and the value-to-income ratio is elevated (92nd percentile). This tends to reinforce reliance on multifamily housing, bolstering retention and reducing move-outs to homeownership relative to more affordable metros. Rent-to-income metrics signal some affordability pressure, so disciplined renewals and unit positioning remain important for pricing power and occupancy stability, based on commercial real estate analysis from WDSuite.
The asset’s 1986 construction is newer than the neighborhood average vintage (1972). That positioning can be competitive versus older local stock, though investors should plan for targeted system upgrades and modernization to sustain rentability and reduce long-term capital surprises.
Relative to neighborhoods nationwide, this area trends safer than average on overall crime (around the 65th percentile). Property offenses are comparatively low (approximately 85th percentile nationally) with a recent year-over-year improvement that ranks favorably against many metro peers. Violent offense levels also benchmark in a stronger national percentile (around the 87th), though recent trend volatility has moved in an unfavorable direction, warranting routine monitoring. All rankings reference standing among 997 neighborhoods in the Riverside–San Bernardino–Ontario metro.
For investors, the takeaway is a broadly favorable comparative position with improving property crime levels, tempered by the need to track short-term shifts in violent offense trends and maintain standard on-site security protocols.
Proximity to logistics, energy, and distribution employers supports a steady commuter renter base and reinforces retention through commute convenience. Nearby anchors include Kinder Morgan, General Mills, Waste Management, McKesson Medical Surgical, and Ryder Vehicle Sales.
- Kinder Morgan — energy infrastructure (4.3 miles)
- General Mills — food manufacturing/distribution (7.4 miles)
- Waste Management — environmental services (15.8 miles)
- McKesson Medical Surgical — healthcare distribution (16.4 miles)
- Ryder Vehicle Sales — transportation/logistics (18.0 miles)
This 60-unit, 1986-vintage property is positioned in a neighborhood with top-quartile occupancy and a high renter-occupied share, indicating a broad tenant base and durable leasing. Elevated ownership costs across the metro further support renter reliance on multifamily housing, while recent 3-mile radius trends show population and household growth that expand the local renter pool. According to CRE market data from WDSuite, neighborhood-level NOI per unit and occupancy benchmarks compare well against metro peers, reinforcing an income-focused thesis with selective value-add opportunity through targeted modernization.
The asset is newer than the local average stock, which can aid competitiveness versus older buildings, though mechanical systems and interiors may still warrant upgrades to capture premium rents and manage long-term CapEx. Affordability pressure is present, so disciplined renewals and unit mix pricing remain key to sustaining retention while balancing growth.
- Neighborhood occupancy ranks in the top quartile locally and nationally, supporting income stability.
- High renter-occupied share signals deep tenant demand for multifamily units.
- 1986 vintage offers competitive positioning versus older stock with targeted value-add upside.
- Elevated home values reinforce renter reliance, aiding retention and pricing power.
- Risks: affordability pressure, limited childcare/pharmacy amenities, and recent volatility in violent offense trends.