| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Poor |
| Demographics | 26th | Fair |
| Amenities | 31st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1970 Clary Dr, Needles, CA, 92363, US |
| Region / Metro | Needles |
| Year of Construction | 2000 |
| Units | 81 |
| Transaction Date | 2020-08-18 |
| Transaction Price | $2,250,000 |
| Buyer | RIVER GARDENS NEVADA LP |
| Seller | RIVER GARDENS APARTMENTS LP |
1970 Clary Dr, Needles CA — Multifamily Investment Outlook
Neighborhood occupancy trends and renter demand signal a stable tenant base for an 81-unit asset, according to WDSuite’s CRE market data. Affordability remains a key driver in this submarket, with ownership costs shaping sustained reliance on rentals.
Livability in this Needles suburban neighborhood is defined by practical housing and limited retail density. Neighborhood occupancy is measured at the area level (not the property) and sits below many peer areas nationally, which places a premium on attentive leasing and retention. At the same time, the neighborhood shows a relatively high renter-occupied share of housing units (about 43%), indicating a viable tenant pool for multifamily operators.
Within a 3-mile radius, population and household counts have expanded over the last five years, with further growth projected by 2028. This points to a larger tenant base and supports occupancy stability, particularly for workforce-oriented product. Median household incomes in the 3-mile area have also risen, which can aid rent collections and reduce turnover risk as the renter pool deepens.
Local amenities are sparse compared with denser metro locations—food, beverage, and childcare options are limited—though parks and pharmacies track closer to national mid-to-upper ranges. Average school ratings trend below national norms, which may influence the mix of family renters and leasing strategy. Investors should plan for convenience-oriented upgrades and services that help offset amenity gaps.
Home values in the neighborhood are modest in dollar terms, but the value-to-income ratio is in the top quartile nationally, suggesting a high-cost ownership market relative to local incomes. For multifamily, this typically reinforces rental demand and can support lease retention, while the neighborhood’s older housing stock (average vintage around 1957) creates differentiation potential for newer assets.
Safety conditions register near the national middle based on neighborhood-level comparisons, and recent trends show year-over-year declines in both violent and property offense rates. While conditions can vary block to block, the directional improvement is a constructive signal for long-term operations, and it should be monitored alongside leasing performance and resident feedback.
Built in 2000, this 81-unit property is newer than much of the surrounding housing stock, which can translate into competitive positioning versus older rentals and more predictable near-term capital needs. Within a 3-mile radius, population and household growth indicate a larger tenant base ahead, supporting occupancy stability and collections. High relative ownership costs (top quartile value-to-income nationally) further sustain renter reliance on multifamily housing, while neighborhood occupancy (measured at the neighborhood level, not the property) underscores the importance of active leasing.
According to CRE market data from WDSuite, local rent levels and incomes point to manageable affordability pressure, helping balance pricing power with retention. Given the property’s vintage, selective modernization can enhance yield while guarding against amenity competition and the area’s limited retail footprint.
- 2000 vintage offers competitive positioning versus older neighborhood stock and moderates near-term capex.
- 3-mile population and household growth expand the tenant base, supporting leasing and collections.
- High relative ownership costs reinforce sustained rental demand and lease retention potential.
- Data-driven pricing and renewal strategy can manage affordability pressure while maintaining occupancy.
- Risks: below-average neighborhood occupancy, limited local amenities, and lower school ratings warrant hands-on asset management.