| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 36th | Fair |
| Amenities | 68th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10355 Mills Ave, Montclair, CA, 91763, US |
| Region / Metro | Montclair |
| Year of Construction | 2009 |
| Units | 85 |
| Transaction Date | 2008-07-30 |
| Transaction Price | $793,500 |
| Buyer | MONTCLAIR SENIOR HOUSING PARTNERS LP |
| Seller | CITY OF MONTCLAIR REDEVELOPMENT AGENCY |
10355 Mills Ave Montclair Multifamily Investment
This 2009-built 85-unit property benefits from neighborhood-level occupancy of 98.7%, ranking in the top quartile nationally among 997 metro neighborhoods for housing fundamentals.
This Montclair neighborhood ranks 116th among 997 neighborhoods in the Riverside-San Bernardino-Ontario metro, earning an A rating for overall investment fundamentals. The area demonstrates strong occupancy stability with 98.7% neighborhood-level occupancy, placing it in the 93rd national percentile. Renter-occupied units comprise 50.9% of housing stock, ranking in the 89th percentile nationally and indicating robust rental demand depth.
Built in 2009, this property represents newer construction relative to the neighborhood average of 1978, potentially reducing near-term capital expenditure requirements. Demographics within a 3-mile radius show a population of 168,910 with median household income of $81,989. Five-year projections indicate household growth of 37.2% and median income increases to $120,282, supporting tenant base expansion and rental pricing power.
Median home values of $528,494 with 55.9% five-year appreciation create elevated ownership costs that sustain rental demand. The rent-to-income ratio of 0.20 suggests manageable affordability for tenants, supporting lease retention. Amenity density includes 1.57 grocery stores per square mile (79th percentile nationally) and strong pharmacy access at 2.35 per square mile (95th percentile), enhancing tenant appeal and retention potential.
Safety metrics show mixed trends with property crime rates of 13.4 per 100,000 residents ranking 41st among 997 metro neighborhoods, placing the area in the 87th percentile nationally for property crime performance. Violent crime rates are notably lower at 3.3 per 100,000 residents, ranking 67th metro-wide and achieving the 88th national percentile.
Recent trends indicate improving conditions, with violent crime declining 64.4% year-over-year, ranking 52nd metro-wide for crime reduction (92nd percentile nationally). This downward trajectory in violent offenses supports the neighborhood's overall safety profile for potential tenants and long-term investment stability.
The employment base includes corporate offices within reasonable commuting distance, supporting workforce housing demand and tenant retention through proximity to major employers.
- Ryder Vehicle Sales — logistics and fleet services (3.3 miles)
- Waste Management — waste services (4.7 miles)
- Mckesson Medical Surgical — healthcare distribution (7.6 miles)
- General Mills — food manufacturing (10.9 miles)
- United Technologies — aerospace and defense (13.5 miles)
This 85-unit property offers stable fundamentals in a neighborhood ranking in the top 12% of the Riverside-San Bernardino metro for overall investment metrics. According to CRE market data from WDSuite, neighborhood-level occupancy of 98.7% significantly exceeds typical market performance, ranking in the 93rd percentile nationally. The 2009 construction year positions the asset with reduced near-term capital requirements while demographic projections show household growth of 37.2% over five years, expanding the potential tenant base.
Elevated home values at $528,494 median with 55.9% five-year appreciation sustain rental demand by limiting ownership accessibility. The balanced rent-to-income ratio of 0.20 supports tenant retention while strong amenity density enhances competitive positioning. However, investors should consider the neighborhood's below-average bachelor's degree attainment of 10.6% and monitor potential impacts on tenant profile and rental growth.
- Neighborhood occupancy of 98.7% ranks in top quartile nationally
- 2009 construction reduces near-term capital expenditure needs
- 37.2% projected household growth supports tenant base expansion
- Elevated home values sustain rental demand depth
- Risk: Below-average education levels may limit rental growth potential