| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Good |
| Demographics | 38th | Fair |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1119 W Princeton St, Ontario, CA, 91762, US |
| Region / Metro | Ontario |
| Year of Construction | 1978 |
| Units | 24 |
| Transaction Date | 1994-01-27 |
| Transaction Price | $81,000 |
| Buyer | BREMER DONALD D |
| Seller | GRAY JAMES B |
1119 W Princeton St Ontario Multifamily Investment
This 24-unit property built in 1978 benefits from strong rental demand in an Urban Core neighborhood with 84th percentile rental occupancy share. Median rents in the area reached $1,613 with 27.8% growth over five years, according to CRE market data from WDSuite.
The property sits in an Urban Core neighborhood rated A- that ranks in the top fifth among 997 metro neighborhoods overall. With 44.5% of housing units renter-occupied (84th percentile nationally), the area demonstrates strong rental market fundamentals. Neighborhood-level occupancy stands at 91.1%, though this metric has declined 6.2 percentage points over the past five years, warranting attention to local absorption trends.
Built in 1978, the property aligns with the neighborhood's average construction year of 1973, indicating potential value-add opportunities through strategic renovations and unit upgrades. Demographics within a 3-mile radius show a stable renter base with 51.9% of housing units occupied by renters and median household income of $80,397. The area's rent-to-income ratio of 0.25 suggests manageable affordability for tenants, supporting lease retention and renewal rates.
Amenity density supports tenant appeal with 10.75 restaurants per square mile (91st percentile nationally) and 3.58 grocery stores per square mile (92nd percentile). However, childcare and pharmacy access remains limited. The neighborhood's median home value of $515,792 with 46% appreciation over five years reinforces rental demand as elevated ownership costs keep households in the rental market longer.
Looking ahead, demographic projections within the 3-mile radius indicate household growth of 33% through 2028, expanding the potential renter pool. Forecast median household income is projected to reach $121,041, representing 50.6% growth that could support rent escalation and pricing power for well-positioned properties.
The neighborhood's safety profile shows mixed indicators that warrant consideration in investment analysis. Property crime rates rank 543rd among 997 metro neighborhoods, placing the area near the middle of the regional distribution. Violent crime rates rank 570th, indicating below-median performance within the metro area.
Crime trend data shows significant volatility, with both property and violent offense rates experiencing substantial year-over-year increases. These trends rank in the bottom 10% nationally, suggesting heightened attention to security measures and tenant safety concerns may be prudent for property management and capital planning decisions.
The property benefits from proximity to diverse corporate employers that support workforce housing demand in the Ontario submarket.
- Waste Management — waste services (5.3 miles)
- Ryder Vehicle Sales — transportation services (5.5 miles)
- Mckesson Medical Surgical — healthcare distribution (8.1 miles)
- General Mills — food manufacturing (8.8 miles)
- United Technologies — industrial technology (15.9 miles)
This 24-unit property presents a value-add opportunity in Ontario's Urban Core with strong rental fundamentals. The neighborhood's 84th percentile rental occupancy share nationally and projected 33% household growth through 2028 support long-term tenant demand. Built in 1978, the property offers renovation upside potential to capture area rent growth, with neighborhood medians reaching $1,613 after 27.8% appreciation over five years.
The investment case centers on demographic tailwinds and rental market depth. Forecast median household income growth of 50.6% to $121,041 by 2028 indicates strengthening tenant purchasing power, while elevated home values sustain rental demand by keeping ownership costs above many households' reach. However, recent occupancy declines and volatile crime trends require active management attention.
- Strong rental market fundamentals with 84th percentile occupancy share nationally
- Value-add potential through strategic renovations of 1978-vintage units
- Projected 33% household growth and 50.6% income growth through 2028
- Elevated home values support rental demand retention
- Risk factors include recent occupancy decline and volatile crime trends requiring management focus