| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Fair |
| Demographics | 25th | Fair |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 16955 Olive St, Hesperia, CA, 92345, US |
| Region / Metro | Hesperia |
| Year of Construction | 2009 |
| Units | 24 |
| Transaction Date | 2009-02-09 |
| Transaction Price | $1,943,929 |
| Buyer | OLIVE TERRACE 24 LP |
| Seller | PIESNIK PALO |
16955 Olive St Hesperia Multifamily Investment Opportunity
Neighborhood occupancy trends are above the metro median, pointing to stable renter demand near 16955 Olive St, according to WDSuite’s CRE market data. Positioning within the High Desert offers durable workforce housing dynamics without downtown pricing volatility.
The property sits in a suburban pocket of Hesperia within the Riverside–San Bernardino–Ontario metro. Amenity access is competitive among metro neighborhoods (ranked 256 out of 997), led by solid proximity to groceries and pharmacies (nationally in the 70s–80s percentiles), while cafes and park access are thinner. For investors, that mix supports day‑to‑day convenience for residents yet suggests limited lifestyle amenities nearby.
Neighborhood occupancy is above the metro median (rank 487 of 997), a constructive backdrop for maintaining leased units and supporting renewal strategies. Rent-to-income metrics trend favorable versus many U.S. areas (upper national percentiles), indicating lower affordability pressure and potential for steadier retention compared with higher-burden markets.
Within a 3‑mile radius, population and household counts have grown and are projected to continue expanding over the next five years, which broadens the local tenant base. Household size is edging down slightly, consistent with demand for a range of unit types. The renter-occupied share within 3 miles is roughly two-fifths, providing depth for multifamily leasing while ownership remains prevalent enough to limit extreme turnover risk.
Home values in the neighborhood are elevated versus national norms (upper‑third percentile nationally), and the value‑to‑income ratio is also higher than most U.S. neighborhoods. In practice, a higher-cost ownership market tends to sustain reliance on rental housing, supporting occupancy and leasing velocity for well‑positioned multifamily assets.
Average school ratings in the neighborhood sit below national norms, which can be a consideration for family‑oriented leasing strategies. Investors can offset this by targeting value, finishes, and management services that appeal to working households prioritizing commute and daily‑needs access over school district prestige.
Safety indicators for the neighborhood track below the national median (national percentiles around the 30s for both property and violent offenses), though year‑over‑year readings show modest improvement. In metro context, this places the area behind many Riverside–San Bernardino–Ontario neighborhoods on safety metrics, but with recent directional gains that investors can monitor for trend durability.
Prudent underwriting would account for security measures, lighting, and resident engagement to support retention. Ongoing monitoring of neighborhood‑level trends, rather than block‑by‑block assumptions, remains the appropriate lens for risk assessment.
Regional employers within commuting range help underpin workforce housing demand, led by energy infrastructure, food manufacturing, environmental services, logistics, and healthcare distribution—supporting leasing stability for residents with varied schedules and pay cycles.
- Kinder Morgan — energy infrastructure (25.0 miles)
- General Mills — food manufacturing (30.3 miles)
- Waste Management — environmental services (36.3 miles)
- Ryder Vehicle Sales — logistics (37.2 miles)
- Mckesson Medical Surgical — healthcare distribution (38.1 miles)
Built in 2009, the asset is newer than the neighborhood’s typical 1980s vintage, offering competitive positioning versus older stock while leaving room for selective modernization to drive rent premiums and reduce near‑term capex surprises. Neighborhood occupancy trends sit above the metro median and, according to CRE market data from WDSuite, the area’s rent‑to‑income readings suggest relatively lower affordability pressure than many U.S. neighborhoods—constructive for renewal rates and pricing discipline.
Within a 3‑mile radius, recent and projected population and household growth point to a larger tenant base ahead, with slightly smaller household sizes that can favor professionally managed multifamily. Elevated ownership costs at the neighborhood level further sustain renter reliance, while limited café/park amenities and below‑average school ratings are considerations for marketing and security planning rather than thesis breakers.
- 2009 vintage offers competitive positioning vs. older neighborhood stock with targeted value‑add potential
- Above‑median neighborhood occupancy supports leasing stability and renewal strategies
- Growing 3‑mile population and households expand the local renter pool and support demand
- Elevated ownership costs reinforce reliance on rentals, aiding pricing power
- Risks: below‑average school ratings, thinner lifestyle amenities, and safety metrics below national median