| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Poor |
| Demographics | 26th | Fair |
| Amenities | 31st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1601 Lillyhill Dr, Needles, CA, 92363, US |
| Region / Metro | Needles |
| Year of Construction | 1990 |
| Units | 52 |
| Transaction Date | 2002-12-12 |
| Transaction Price | $1,170,000 |
| Buyer | BAGHDADY HANY H |
| Seller | MOUNTAIN VIEW RENTALS LLC |
1601 Lillyhill Dr, Needles CA Multifamily Opportunity
Steadily expanding household counts within a 3-mile radius point to a larger tenant base, and, according to WDSuite’s CRE market data, local renter concentration supports durable leasing even as occupancy trends remain mixed.
This suburban Needles location serves workforce renters with practical access to daily needs rather than a dense amenity core. Neighborhood amenities benchmark below national medians overall, while parks and pharmacies are nearer the national middle, indicating basic conveniences without urban variety. Average school ratings are below national norms, which can moderate family-driven demand but does not preclude stable occupancy for value-focused multifamily.
Vintage matters: the property’s 1990 construction is newer than the neighborhood’s older housing stock, which can be a competitive advantage against mid-century assets. Investors should still plan for system updates and targeted common-area refreshes to maintain positioning and support rent trade-outs.
Neighborhood occupancy trends sit below national medians but have shown a modest uptick over the past five years, signaling some stabilization. Renter-occupied housing units account for a meaningful share locally (top quartile nationally for renter concentration), which suggests depth in the tenant pool for multifamily assets and supports leasing resilience through cycles.
Within a 3-mile radius, population and households have grown and are projected to continue expanding, translating into a larger tenant base over time. Elevated value-to-income ratios indicate a high-cost ownership market relative to local incomes, which tends to sustain reliance on rental housing and can aid retention for well-managed properties. At the same time, rent-to-income levels point to affordability pressure in parts of the renter pool, reinforcing the importance of disciplined lease management.
Safety indicators for the neighborhood are near the national middle based on WDSuite’s CRE market data. Relative to the 997 neighborhoods in the Riverside–San Bernardino–Ontario metro, the area performs around the metro median, and both property and violent incident rates have declined year over year, an encouraging directional trend for long-term operators.
Built in 1990 with 52 units, the property is positioned as a relatively newer option versus much of the surrounding housing stock, offering potential efficiency and finish-level advantages with selective value-add. A meaningful local renter concentration and a growing 3-mile household base support demand, while elevated ownership costs relative to incomes reinforce reliance on rental housing. According to CRE market data from WDSuite, neighborhood occupancy sits below national medians but has edged higher over five years, suggesting improving stability with prudent management.
Forward-looking dynamics are constructive: demographic growth within 3 miles points to a larger tenant base and continued leasing depth, and targeted renovations can capture competitiveness against older supply. Investors should underwrite conservatively for amenity-light surroundings and rent-to-income pressures that may influence renewal strategies, while leveraging the property’s vintage advantage to drive retention and steady cash flow.
- 1990 vintage offers a competitive edge versus older local stock, with targeted value-add potential.
- Expanding 3-mile households support a larger tenant base and occupancy stability over time.
- High-cost ownership context reinforces rental demand and supports retention for well-managed assets.
- Neighborhood occupancy has trended upward over five years, indicating improving leasing fundamentals.
- Risks: amenity depth and rent-to-income pressure require careful pricing, concessions, and renewal management.