| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Poor |
| Demographics | 58th | Best |
| Amenities | 41st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 24570 Stewart St, Loma Linda, CA, 92354, US |
| Region / Metro | Loma Linda |
| Year of Construction | 1988 |
| Units | 66 |
| Transaction Date | 2021-11-29 |
| Transaction Price | $10,500,000 |
| Buyer | GOODMANOR PARTNERS LP |
| Seller | LOMA LINDA GOODMANOR APARTMENTS |
24570 Stewart St, Loma Linda CA Multifamily Investment
1988 vintage, 66-unit asset positioned in Loma Linda’s inner-suburban corridor, where a deep renter base and rising household counts support durable demand, according to WDSuite’s CRE market data from ongoing commercial real estate analysis, while neighborhood occupancy trends point to operational upside for disciplined operators.
Located in Loma Linda’s Inner Suburb setting, the neighborhood rates competitive among Riverside–San Bernardino–Ontario, CA neighborhoods (ranked 379 of 997), per WDSuite’s CRE market data. Daily-needs retail is a local strength with grocery and pharmacy access above national norms, while parks and cafes are thinner; investors can underwrite convenience for residents without relying on destination amenities.
Neighborhood occupancy is measured for the neighborhood, not this property, and sits below the national median; in contrast, renter-occupied share is high (73.1% of housing units), indicating a sizable tenant base and potential for solid leasing velocity. This combination suggests operators may focus on tenant retention and leasing execution to stabilize performance.
Within a 3-mile radius, population has grown modestly in recent years and households have increased, with WDSuite data also indicating further household growth ahead. That trend expands the local renter pool and supports occupancy stability, particularly for well-managed assets positioned at attainable price points.
Median home values are elevated relative to many U.S. neighborhoods (around the 81st percentile nationally), reinforcing reliance on multifamily housing and supporting pricing power, while a relatively low neighborhood rent-to-income ratio signals manageable affordability pressure that can aid renewals. For this asset’s 1988 construction, the vintage is newer than the neighborhood’s older housing stock (average 1960), offering competitive positioning versus legacy properties, though targeted modernization and systems updates may still be prudent for value creation.
Based on WDSuite’s data, the neighborhood’s safety profile is competitive among Riverside–San Bernardino–Ontario, CA neighborhoods (ranked 286 out of 997), and sits slightly above the national median for safety (higher national percentile indicates comparatively safer conditions). Recent year-over-year trends show meaningful declines in both property and violent offenses, which is a constructive signal, though investors should still assess block-level patterns during due diligence.
Nearby employers provide a diversified employment base that supports renter demand and commute convenience for workforce tenants, including energy infrastructure, consumer foods, medical distribution, waste services, and logistics firms listed below.
- Kinder Morgan — energy infrastructure (5.8 miles)
- General Mills — consumer foods (14.4 miles)
- Mckesson Medical Surgical — medical supply distribution (24.1 miles)
- Waste Management — waste services (24.3 miles)
- Ryder Vehicle Sales — fleet and logistics sales (26.9 miles)
This 66-unit, 1988-built property aligns with steady renter demand drivers in Loma Linda: a high concentration of renter-occupied housing units in the neighborhood, modest but positive population growth within 3 miles, and elevated ownership costs that keep households engaged with multifamily options. According to CRE market data from WDSuite, neighborhood occupancy runs below national norms, creating room for operational improvement where experienced managers can emphasize renewals, leasing discipline, and targeted unit upgrades.
The asset’s vintage is newer than much of the local housing stock, offering a relative quality edge versus older properties, while selective modernization (interiors, building systems) can unlock value-add potential. Proximity to a diversified employer base further underpins tenant retention and lease-up consistency through varied economic cycles.
- Deep neighborhood renter concentration supports a broad tenant base and leasing velocity.
- Newer 1988 vintage versus older area stock enables competitive positioning with focused upgrades.
- Elevated ownership costs in the area reinforce sustained demand for rentals and renewal potential.
- Diverse nearby employers contribute to commute convenience and occupancy stability.
- Risk: neighborhood occupancy trends are softer; performance depends on execution in leasing and retention.