| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 45th | Good |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9042 Sycamore Ave, Montclair, CA, 91763, US |
| Region / Metro | Montclair |
| Year of Construction | 2013 |
| Units | 27 |
| Transaction Date | 2023-05-08 |
| Transaction Price | $72,471,500 |
| Buyer | PASEOS CYPRESS LLC |
| Seller | 4914 OLIVE STREET PROPERTIES LLC |
9042 Sycamore Ave: 2013-Built 27-Unit Multifamily in Montclair
Neighborhood fundamentals point to steady renter demand and solid occupancy, according to WDSuite’s CRE market data, with this newer asset positioned to compete effectively against older local stock.
Located in Montclair’s inner-suburban fabric of the Riverside–San Bernardino–Ontario metro, the neighborhood carries an A rating and ranks among the top quartile of 997 metro neighborhoods, based on WDSuite’s CRE market data. Restaurant and cafe density is notably strong (top decile nationally), while grocery and pharmacy access track above national medians. By contrast, public parks and formal childcare options are sparse locally, a consideration for family-oriented tenant segments.
For investors, the tenancy profile is favorable: renter-occupied housing is a majority share in the neighborhood, pointing to a deep tenant base and demand resilience for multifamily units. Neighborhood occupancy sits in the low-90s and is above national averages, supporting leasing stability. Average NOI per unit in the area trends in the upper tier nationally, signaling competitive income potential for well-managed assets.
Vintage matters here. The submarket’s typical construction year is the mid-1980s, while this property was built in 2013. That newer vintage positions the asset competitively versus older stock on systems, finishes, and curb appeal, though standard mid-life capital planning should be expected over the hold period.
Within a 3-mile radius, demographics show modest population growth recently with additional gains projected by 2028, alongside rising household counts. These trends indicate a gradually expanding renter pool that can support occupancy and absorption. Household incomes have strengthened and are projected to continue rising, which supports rent collections and potential pricing power. At the same time, elevated home values relative to incomes characterize a high-cost ownership market, which tends to reinforce reliance on rental housing and can aid lease retention.
Schools in the area rate above national medians, which can support family renter retention even as park and childcare access remain limited. Overall, neighborhood-level dynamics compare favorably to national benchmarks, with convenience amenities and renter concentration underpinning demand for professionally managed multifamily.
Neighborhood safety compares favorably on national benchmarks: overall conditions test above the national median, with violent-offense measures in the top few percent of neighborhoods nationwide, according to WDSuite. Property-offense indicators also rank well nationally, although recent year-over-year data show an uptick in property incidents. Investors should weigh the positive long-run standing against near-term fluctuations and monitor trend direction at the neighborhood level.
Within the Riverside–San Bernardino–Ontario metro, the area is competitive among peer neighborhoods, but performance varies by category. As with any asset-level diligence, investors should validate on-the-ground measures (lighting, access control, and visibility) and align security planning with tenant expectations to support retention.
The employment base nearby includes distribution, environmental services, healthcare supply, food manufacturing, and a major utility HQ, supporting commute convenience and renter demand for workforce housing in this submarket.
- Ryder Vehicle Sales — transportation & logistics (5.3 miles)
- Waste Management — environmental services (6.0 miles)
- Mckesson Medical Surgical — healthcare supply (8.9 miles)
- General Mills — food manufacturing (10.5 miles)
- Edison International — utility & corporate services (22.1 miles) — HQ
9042 Sycamore Ave offers a 2013-built, 27-unit profile in a neighborhood that ranks among the stronger cohorts in the Riverside–San Bernardino–Ontario metro. The area exhibits high renter concentration, restaurant and cafe density well above national norms, and neighborhood occupancy in the low-90s—factors that support leasing stability and income durability. Elevated ownership costs relative to income levels further sustain reliance on multifamily rentals, while rent-to-income ratios indicate manageable affordability pressure that can aid retention, according to CRE market data from WDSuite.
Relative to the submarket’s older average vintage, the asset’s newer construction enhances competitive positioning versus legacy stock while still warranting mid-life systems and common-area planning. Forward-looking demographic trends within a 3-mile radius point to incremental population and household growth, reinforcing a gradual expansion of the renter pool and supporting long-term demand fundamentals.
- Newer 2013 construction versus an older neighborhood baseline, supporting competitive positioning and lower near-term CapEx versus legacy assets.
- High renter concentration and occupancy in the low-90s underpin demand depth and leasing stability.
- Strong amenity access (dining, cafes, groceries, pharmacies) compares favorably to national medians, aiding resident satisfaction and retention.
- High-cost ownership market supports multifamily reliance and pricing power, balanced by rent-to-income levels that help sustain renewals.
- Risks: recent uptick in property offenses, limited parks/childcare, and modest softening in neighborhood occupancy over five years warrant proactive asset management.