| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Poor |
| Demographics | 27th | Fair |
| Amenities | 6th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 62168 Verbena Rd, Joshua Tree, CA, 92252, US |
| Region / Metro | Joshua Tree |
| Year of Construction | 1987 |
| Units | 75 |
| Transaction Date | 2019-09-11 |
| Transaction Price | $6,500,000 |
| Buyer | QUAIL SPRINGS LLC |
| Seller | QUAIL SPRINGS VILLAGE APARTMENTS LLC |
62168 Verbena Rd Joshua Tree Multifamily Investment
Investor snapshot points to a smaller renter base but steady leasing potential supported by a high-cost ownership market, according to WDSuite’s CRE market data.
Located in a rural pocket of San Bernardino County, the neighborhood shows ownership-leaning dynamics with about 22% of housing units renter-occupied, indicating a thinner but more defined tenant pool for a 75-unit asset. Within a 3-mile radius, the renter-occupied share is closer to 40%, broadening the draw for multifamily while still suggesting careful leasing management and targeted marketing.
Occupancy at the neighborhood level has trended higher over the past five years, though it remains consistent with rural submarkets where seasonality and mobility can be more pronounced. Median contract rents in the immediate area sit below many metro submarkets, while rent-to-income metrics indicate moderate affordability pressure that supports retention but warrants disciplined renewals. Home values are elevated relative to local incomes (high value-to-income ratios), which can reinforce reliance on rental housing and sustain renter demand through cycles.
Amenity density is limited (few cafes, groceries, parks, and pharmacies per square mile), which is typical for rural locations and underscores the importance of on-site offerings and convenience. Average school ratings in the neighborhood are low, a consideration for family-oriented leasing; investors may emphasize unit finishes, onsite services, and access to regional destinations to compete effectively.
Demographic statistics aggregated within a 3-mile radius point to a slight population contraction alongside a rise in total households over the next five years, implying smaller household sizes and a more dispersed resident base. Median incomes are projected to grow, and rents are expected to increase from current levels, which can support stabilized operations; however, a declining renter share in the broader radius suggests the tenant base may skew more selective, favoring well-managed, competitively positioned properties.
Based on WDSuite’s data, the neighborhood is competitive among Riverside–San Bernardino–Ontario metro neighborhoods for overall crime levels (ranked closer to the safer end than many peers out of 997 neighborhoods) and sits modestly above national averages for safety. Recent year-over-year declines in both violent and property offense estimates point to improving conditions, though investors should underwrite with conservative assumptions and monitor trends.
Regional employment access skews toward industrial and essential services, supporting workforce-oriented renter demand and commute resilience. The following nearby employer reflects this base.
- Waste Management — environmental services (27.4 miles)
Built in 1987, the asset is slightly newer than the local average vintage, offering a competitive edge versus older stock while still presenting opportunities for targeted system upgrades and modernization. The immediate neighborhood is ownership-leaning, yet elevated home values relative to incomes support the case for durable renter demand and leasing stability through cycles. According to CRE market data from WDSuite, rents and household incomes in the broader 3-mile radius are set to trend upward, which can aid retention and measured rent growth for well-managed properties.
Rural amenity density is limited and school ratings are low, so on-site quality and operational execution will drive performance. With occupancy improving locally and a forecast of more, smaller households within a 3-mile radius, a right-sized unit mix and steady renewal strategy can capture demand while balancing affordability pressure and turnover risk.
- 1987 vintage: competitive versus older stock with clear modernization and value-add paths
- Elevated ownership costs reinforce reliance on rental housing, supporting tenant depth
- Household and income trends within 3 miles support retention and measured rent growth
- Operational focus on on-site convenience offsets limited local amenities
- Risk: smaller renter concentration and rural setting require disciplined leasing and expense control