| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Good |
| Demographics | 19th | Poor |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8948 E Ave, Hesperia, CA, 92345, US |
| Region / Metro | Hesperia |
| Year of Construction | 1986 |
| Units | 38 |
| Transaction Date | 2004-01-28 |
| Transaction Price | $225,000 |
| Buyer | NEW LIFE CONSTRUCTION LLC |
| Seller | BRENIA PAUL S |
8948 E Ave Hesperia Multifamily Investment Opportunity
Neighborhood occupancy trends sit above the metro median and a high-cost ownership landscape helps sustain renter demand, according to WDSuite’s CRE market data. Positioning as attainable workforce housing can support steady leasing in Hesperia.
The property is situated in an inner-suburban pocket of Hesperia where the neighborhood ranks above the metro median for occupancy among 997 Riverside–San Bernardino–Ontario neighborhoods. Rents benchmark above national medians while rent-to-income metrics suggest relatively manageable affordability pressure, supporting retention and lease stability for a value-oriented offering.
Within a 3-mile radius, population and household counts have expanded over the last five years, with additional household growth projected — a setup that typically enlarges the tenant base and supports occupancy stability. At the same time, some forecasts indicate a greater tilt toward ownership in the surrounding area, which could introduce competition from entry-level ownership options; underwriting should account for this dynamic.
The area’s renter-occupied share is elevated versus national norms, indicating a deeper pool of multifamily renters. Elevated home values relative to incomes in the neighborhood reinforce reliance on rental housing, which can aid lease-up and pricing power for well-positioned assets.
Local retail and daily-needs amenities are thin in the immediate vicinity, and average school ratings trail national norms. For investors, this points to a practical workforce housing strategy: emphasize functional renovations, reliable operations, and value-driven positioning rather than premium, amenity-led rent pushes.
Neighborhood safety indicators sit close to the national median, with overall crime measuring modestly better than nationwide norms and recent data showing declines in violent incidents year over year. Within the Riverside–San Bernardino–Ontario metro’s 997 neighborhoods, the area compares around the middle of the pack, which generally supports stable, workforce-oriented renter demand without requiring a risk premium typical of more volatile submarkets.
Regional employment is supported by nearby corporate operations across energy infrastructure, packaged foods, waste services, logistics, and medical distribution — providing a broad commuter base that can underpin renter demand and retention for workforce housing.
- Kinder Morgan — energy infrastructure (24.7 miles)
- General Mills — packaged foods (30.0 miles)
- Waste Management — waste services (36.0 miles)
- Ryder Vehicle Sales — logistics & fleet services (36.9 miles)
- McKesson Medical Surgical — medical distribution (37.8 miles)
Built in 1986 with 38 units, the asset offers classic-vintage value-add potential — interior upgrades and selective building systems modernization can enhance competitiveness against older local stock while keeping capital planning disciplined. According to CRE market data from WDSuite, the neighborhood posts occupancy above the metro median and rents that sit above national medians, while ownership costs remain elevated, reinforcing a sizable renter base.
Within a 3-mile radius, recent and projected growth in households points to a larger tenant base and supports leasing durability. Amenity-light surroundings and below-average school ratings suggest a pragmatic, workforce housing positioning that emphasizes reliable operations and attainable pricing over amenity-driven premiums.
- 1986 vintage with clear value-add path via unit and system updates
- Above-metro occupancy and an elevated renter pool support leasing stability
- High-cost ownership context underpins demand for attainable rentals
- Household growth within 3 miles expands the local tenant base
- Risks: amenity-light location and potential shift toward ownership may temper rent growth