| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 46th | Good |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1427 W Mission Blvd, Ontario, CA, 91762, US |
| Region / Metro | Ontario |
| Year of Construction | 1988 |
| Units | 80 |
| Transaction Date | 2005-02-25 |
| Transaction Price | $7,900,000 |
| Buyer | Ontario Mission LLC |
| Seller | PA Mission Oaks LP |
1427 W Mission Blvd Ontario Multifamily Investment
This 80-unit property built in 1988 benefits from neighborhood occupancy rates of 96.4% and strong rental demand fundamentals. Commercial real estate analysis indicates the area ranks in the top quartile nationally for housing metrics among 997 metro neighborhoods.
The property sits in an A- rated neighborhood within the Riverside-San Bernardino-Ontario metro, ranking 211th among 997 neighborhoods overall. With a 96.4% neighborhood occupancy rate and 38.8% of housing units renter-occupied, the area demonstrates stable rental demand dynamics for multifamily investors.
Built in 1988, the property aligns with the neighborhood's average construction year of 1981, indicating consistent vintage across the area with potential value-add opportunities through strategic renovations. The median contract rent of $1,851 has grown 27.5% over five years, while home values averaging $552,911 have appreciated 28.4% during the same period, supporting rental demand as ownership costs remain elevated.
Demographics within a 3-mile radius show a stable population of 174,287 residents with median household income of $81,198. The area maintains strong childcare density ranking 53rd among metro neighborhoods nationally at the 91st percentile, while restaurant availability ranks in the 94th percentile with 14.7 establishments per square mile, supporting tenant retention through local amenities.
Forecasted demographic trends indicate household growth of 37.9% through 2028, with median income projected to reach $120,547, representing 48.5% growth that should support rent growth potential and occupancy stability for multifamily properties in the submarket.
The neighborhood's crime profile shows mixed indicators for investor consideration. Property crime rates rank 397th among 997 metro neighborhoods, placing it near the metro median with a national percentile of 51st. Violent crime rates perform better, ranking 270th metro-wide at the 64th percentile nationally.
Investors should note recent volatility in crime reporting, with significant year-over-year increases in both property and violent crime statistics that may reflect data collection changes rather than actual trend shifts. The overall crime rank of 852nd among metro neighborhoods suggests areas for continued monitoring as part of ongoing property management considerations.
The submarket benefits from proximity to diverse corporate employers supporting workforce housing demand, with major offices within commuting distance providing tenant stability.
- Waste Management — waste services (3.6 miles)
- Ryder Vehicle Sales — transportation services (4.1 miles)
- McKesson Medical Surgical — healthcare distribution (6.4 miles)
- General Mills — food manufacturing (8.5 miles)
- United Technologies — aerospace (14.4 miles)
This 80-unit property represents a value-oriented opportunity in Ontario's stable rental market. The neighborhood's 96.4% occupancy rate and A- rating demonstrate consistent demand fundamentals, while the 1988 construction year positions the asset for strategic capital improvements to capture upside in a market where rents have grown 27.5% over five years.
According to CRE market data from WDSuite, the area's demographics support long-term rental demand with projected household growth of 37.9% through 2028 and median income increases to $120,547. The property's average unit size of 841 square feet aligns with local rental preferences, while elevated home values averaging $552,911 reinforce rental demand as ownership costs remain elevated for many households.
- Strong neighborhood occupancy at 96.4% indicates stable rental demand
- 1988 vintage offers value-add renovation opportunities
- Projected 37.9% household growth through 2028 supports tenant base expansion
- Elevated ownership costs reinforce multifamily rental demand
- Consider recent crime reporting volatility in ongoing management planning