| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Poor |
| Demographics | 9th | Poor |
| Amenities | 13th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7862 Lankershim Ave, Highland, CA, 92346, US |
| Region / Metro | Highland |
| Year of Construction | 1985 |
| Units | 60 |
| Transaction Date | 1997-09-15 |
| Transaction Price | $1,010,000 |
| Buyer | WOODMAN REALTY INC |
| Seller | HIGHLAND SIXTY LLC |
7862 Lankershim Ave Highland Multifamily Investment
This 60-unit property built in 1985 sits in a neighborhood where occupancy remains above 96%, supported by a high concentration of renter-occupied housing and limited ownership accessibility, according to CRE market data from WDSuite.
7862 Lankershim Ave is located in Highland, California, within the Riverside-San Bernardino-Ontario metro. The property was built in 1985, approximately three decades newer than the neighborhood's average construction year of 1956, positioning it as a relatively modern asset that may require lower near-term capital expenditure compared to older surrounding stock. This vintage advantage supports competitive positioning within a neighborhood where housing stock trends older.
The surrounding neighborhood demonstrates strong occupancy fundamentals, with an occupancy rate of 96.4% that ranks in the 80th percentile nationally among comparable neighborhoods. Renter-occupied units represent 47.1% of the housing base—ranking in the 86th percentile nationwide—indicating a deep and stable tenant pool that supports multifamily demand. Within a 3-mile radius, demographic data shows approximately 97,240 residents and 26,733 households. The area is characterized by larger household sizes averaging 3.5 persons, reflecting family-oriented renter demand. Median household income within the radius stands at approximately $60,958, with a median contract rent of $1,263, translating to a rent-to-income ratio of roughly 30% at the neighborhood level. This ratio suggests moderate affordability pressure that investors should monitor in lease management and renewal strategies.
Home values in the immediate neighborhood are reported at a median of $277,500, ranking in the 57th percentile nationally. However, elevated ownership costs relative to local incomes—reflected in a value-to-income ratio ranking in the 4th percentile nationally—limit accessibility to homeownership and sustain reliance on rental housing. This dynamic reinforces multifamily demand and supports tenant retention, particularly among households unable to transition to ownership. Forward-looking demographic projections within the 3-mile radius anticipate household growth of approximately 5% over the next five years, with renter-occupied units forecast to expand meaningfully. This increase in the renter pool supports occupancy stability and potential lease-up velocity for well-positioned assets.
Amenity density is limited in the immediate vicinity. Grocery access is relatively strong, with 1.43 stores per square mile ranking in the 77th percentile nationally, which supports day-to-day tenant convenience. However, the neighborhood ranks low nationally for cafes, childcare centers, parks, pharmacies, and restaurants, indicating a more residential, less walkable character. Investors should weigh this amenity profile against tenant expectations and consider how it may influence retention and competitive positioning. The neighborhood receives an overall rating of "D" and ranks 952nd among 997 neighborhoods in the metro, reflecting mixed fundamentals that require careful underwriting of rent growth assumptions and tenant turnover risks.
Safety metrics for the neighborhood present a favorable profile relative to both metro and national benchmarks. The area ranks 58th among 997 neighborhoods in the Riverside-San Bernardino-Ontario metro for overall crime, placing it in the 74th percentile nationally—indicating lower crime levels compared to most neighborhoods across the country. Violent offense rates are notably low, with an estimated rate of approximately 1.54 incidents per 100,000 residents, ranking in the 96th percentile nationally. Additionally, violent crime trends show a significant one-year decline of approximately 63%, ranking in the 91st percentile for year-over-year improvement.
Property crime rates are also below average, with an estimated rate of roughly 70 incidents per 100,000 residents, ranking in the 71st percentile nationally. While property crime has increased modestly by approximately 3% over the past year, this change ranks in the 37th percentile nationally, suggesting the uptick is relatively minor compared to trends in other markets. Overall, the neighborhood's safety fundamentals support tenant appeal and retention, which are key considerations for multifamily investors evaluating lease stability and turnover risk.
The property benefits from proximity to several major corporate offices that support workforce housing demand and commute convenience for tenants in the Highland submarket.
- Kinder Morgan — energy infrastructure (8.5 miles)
- General Mills — food manufacturing (18.1 miles)
- Waste Management — environmental services (26.9 miles)
- Mckesson Medical Surgical — healthcare distribution (27.1 miles)
- Ryder Vehicle Sales — transportation & logistics (29.3 miles)
The Highland submarket presents several structural advantages for multifamily investors seeking stable occupancy and long-term tenant demand. The property's 1985 vintage positions it approximately 30 years newer than the neighborhood average, potentially reducing near-term capital requirements while maintaining competitive appeal. With neighborhood occupancy at 96.4%—ranking in the 80th percentile nationally—the asset benefits from a tight rental market supported by strong underlying fundamentals.
Renter concentration in the immediate area is notably high, with 47.1% of housing units occupied by renters, ranking in the 86th percentile nationwide. This reflects a deep and stable tenant base that underpins consistent demand. Additionally, homeownership accessibility remains constrained due to elevated value-to-income ratios, which rank in the 4th percentile nationally. This affordability barrier sustains reliance on rental housing and limits tenant migration to ownership, supporting retention and occupancy stability over the medium term.
Forward demographic trends further reinforce the investment thesis. Household growth within a 3-mile radius is projected at approximately 5% over the next five years, with renter-occupied units expected to expand meaningfully. This anticipated increase in the renter pool should support lease-up velocity and provide a buffer against turnover. The property also benefits from proximity to diversified employment centers, including energy, manufacturing, healthcare distribution, and logistics employers within a reasonable commute radius, which supports workforce housing demand.
Safety metrics add to tenant appeal, with the neighborhood ranking in the 74th percentile nationally for low overall crime and the 96th percentile for low violent crime rates. Violent crime has declined significantly year-over-year, further enhancing the area's profile for family-oriented renters. While amenity density is limited and the neighborhood receives a modest overall rating, the combination of high occupancy, constrained homeownership, demographic tailwinds, and favorable safety trends provides a foundation for disciplined value-add or stabilized hold strategies. Investors should carefully underwrite rent growth assumptions and monitor affordability dynamics, but the structural demand drivers present a compelling case for multifamily exposure in this submarket.