| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Good |
| Demographics | 24th | Poor |
| Amenities | 27th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1429 N Grove Ave, Ontario, CA, 91764, US |
| Region / Metro | Ontario |
| Year of Construction | 1990 |
| Units | 26 |
| Transaction Date | 2015-12-28 |
| Transaction Price | $5,050,000 |
| Buyer | WEISSMAN GLENN H |
| Seller | KLEIN MICHAEL |
1429 N Grove Ave Ontario Multifamily Investment
Neighborhood-level occupancy remains steady and renter concentration is elevated, supporting durable tenant demand near Ontario’s employment corridors, according to WDSuite’s CRE market data.
Located in Ontario, California’s Urban Core, the property benefits from a renter-oriented neighborhood profile. The share of housing units that are renter-occupied is high (90th percentile nationally), indicating a deep tenant base for multifamily investors, while neighborhood occupancy trends sit above the national median. Grocery access is a relative strength — the neighborhood scores in the top quartile nationally for grocery store density — which supports day-to-day livability even as other amenities are more limited.
Amenity balance presents a mixed picture. Restaurant density is competitive (top quartile nationally), but cafes, parks, childcare, and pharmacies are sparse locally. For investors, this suggests residents rely on nearby corridors and regional retail nodes for lifestyle needs. Average school ratings sit below the national median, which may tilt the renter mix toward workforce households rather than school-driven movers.
Pricing context favors rentals. Elevated home values (top quintile nationally) and a high value-to-income ratio (top 5% nationally) point to a high-cost ownership market that can sustain rental demand and leasing stability. Median contract rents in the neighborhood rank in the top quintile nationally, and the rent-to-income ratio indicates manageable but notable affordability pressure — a consideration for lease management and renewal strategies.
Asset vintage also aligns with local stock. The property was built in 1990, slightly newer than the neighborhood’s average construction year (ranked above the national median), which supports competitiveness versus older inventory; investors should still plan for selective system updates or modernization to protect positioning. Within a 3-mile radius, demographics have been relatively stable, with minimal population change, but households are projected to increase while average household size declines — dynamics that can expand the renter pool and support occupancy over time based on WDSuite’s commercial real estate analysis.
Neighborhood safety indicators are mixed. Compared with neighborhoods nationwide, violent offense rates track better than average (around the top two-fifths nationally), while property offense levels are near the national midpoint. Within the Riverside–San Bernardino–Ontario metro, the broader crime rank sits below the metro median (measured against 997 neighborhoods), signaling room for improvement relative to regional peers.
Recent movement is worth monitoring: violent incidents show a modest year-over-year uptick by national benchmarks, and property offenses increased more sharply in the latest annual read. For investors, this argues for proactive security measures, lighting and access control, and coordination with local resources to support resident retention and leasing stability.
Nearby corporate and logistics employers provide a broad base of middle-income jobs that underpin renter demand and commute convenience for workforce tenants. The list below highlights key employers within commuting distance that can support leasing and retention.
- Waste Management — waste and environmental services (6.5 miles)
- General Mills — food manufacturing offices (6.9 miles)
- Ryder Vehicle Sales — fleet sales and logistics (7.5 miles)
- Mckesson Medical Surgical — healthcare distribution (8.8 miles)
- Edison International — electric utility (25.9 miles) — HQ
This 26-unit asset offers exposure to a renter-heavy pocket of Ontario where neighborhood occupancy trends run above the national median and the renter-occupied share is high, supporting depth of demand. Elevated for-sale housing costs and a high value-to-income ratio point to a high-cost ownership market, which can sustain reliance on multifamily housing and aid lease retention. According to CRE market data from WDSuite, neighborhood rents sit in the upper national tiers, reflecting market depth but also the need for thoughtful affordability and renewal strategies.
Built in 1990, the property is slightly newer than the local average vintage, offering competitive positioning versus older stock while still warranting targeted capital planning for systems and common-area updates. Within a 3-mile radius, households are projected to grow even as average household size declines, expanding the renter pool and supporting occupancy stability over the medium term.
- Renter-heavy neighborhood and above-median occupancy support durable tenant demand
- High ownership costs reinforce reliance on rentals, aiding pricing power and retention
- 1990 vintage provides competitive positioning with value-add and modernization upside
- 3-mile household growth and smaller household sizes expand the renter pool
- Risks: amenity gaps (limited parks/cafes), below-median school ratings, and mixed safety trends warrant active management