| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Poor |
| Demographics | 26th | Fair |
| Amenities | 31st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1001 Lillyhill Dr, Needles, CA, 92363, US |
| Region / Metro | Needles |
| Year of Construction | 1981 |
| Units | 52 |
| Transaction Date | 2014-03-21 |
| Transaction Price | $2,200,000 |
| Buyer | 1001 LILLY HILL PARTNERS LP |
| Seller | LILLY HILL APARTMENTS |
1001 Lillyhill Dr, Needles CA Multifamily Investment
Renter concentration in the surrounding neighborhood supports a durable tenant base, while current occupancy trends suggest room for value-add execution, according to WDSuite’s CRE market data.
Located in Needles within San Bernardino County, the property sits in a suburban neighborhood where renter-occupied housing is a meaningful share of the stock. The neighborhood’s occupancy is below the metro median, but the steady renter concentration indicates depth of tenant demand for workforce-oriented apartments. Median home values are comparatively low for California yet represent a high-cost ownership market relative to local incomes, which reinforces reliance on multifamily rentals and can aid lease retention.
Within a 3-mile radius, demographics show population growth alongside an increase in households, pointing to a larger tenant base over the next several years. Forecasts also indicate further household expansion and rising household incomes by 2028, which supports rentability and occupancy stability for well-managed communities. These trends are directional and should help underpin leasing even as household sizes moderate slightly in the outlook period.
The property’s 1981 vintage is newer than much of the nearby housing stock (many homes are mid-century), offering relative competitiveness versus older product. Investors should plan for targeted modernization and system updates typical for early-1980s construction to capture value-add upside and improve operating efficiency.
Local amenities are limited compared with denser Inland Empire submarkets: food, cafés, and childcare options rank below national medians, while parks and pharmacies are closer to the national midpoint. Average school ratings in the neighborhood are low relative to national peers. These factors may temper top-of-market rent potential, but they also align with workforce housing positioning and value-focused leasing strategies.
Neighborhood safety indicators are around the national midpoint based on WDSuite data, and the area is not among the stronger-ranked parts of the Riverside–San Bernardino–Ontario metro. However, recent year-over-year trends point to improving conditions, with both violent and property offense rates declining. This directional improvement supports tenant retention and operational stability, while still warranting standard risk management and on-site security best practices.
1001 Lillyhill Dr is a 52-unit, early-1980s asset positioned for value-add operations in a suburban Needles location. Renter concentration in the neighborhood and rising household counts within a 3-mile radius suggest a stable tenant pipeline, even as current neighborhood occupancy trails stronger Inland Empire submarkets. According to CRE market data from WDSuite, ownership remains relatively costly versus local incomes, which supports sustained demand for rental housing and helps defend leasing in value-oriented communities.
The 1981 construction is newer than much of the nearby housing base, creating a practical platform for targeted renovations to enhance competitiveness and economic occupancy. Limited amenity depth and below-average school ratings are considerations for rent positioning, but projected household and income growth in the trade area provide a constructive backdrop for long-term operations when paired with disciplined expense control and focused asset management.
- Renter concentration and expanding 3-mile household base support tenant demand and occupancy stability.
- 1981 vintage presents clear value-add and modernization levers to lift rentability and efficiency.
- High-cost ownership relative to incomes reinforces reliance on multifamily rentals and lease retention.
- Risk: Neighborhood occupancy and amenity depth are below metro leaders; prudent rent positioning is key.