| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Good |
| Demographics | 24th | Poor |
| Amenities | 27th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1536 E Princeton St, Ontario, CA, 91764, US |
| Region / Metro | Ontario |
| Year of Construction | 1983 |
| Units | 20 |
| Transaction Date | 2016-01-29 |
| Transaction Price | $2,591,500 |
| Buyer | GOLDEN GATE BAPTIST THEOLOGICAL SEMINARY |
| Seller | GRANDWAY CAPITAL HOLDINGS LLC |
1536 E Princeton St Ontario Multifamily Investment
This 20-unit property built in 1983 sits in an urban core neighborhood with above-average occupancy rates and strong rental demand from a diverse tenant base, according to CRE market data from WDSuite.
The property is located in an urban core neighborhood in Ontario with a C+ rating that ranks in the upper half among 997 metro neighborhoods. The neighborhood maintains a 94.2% occupancy rate, performing above the metro median, which supports stable cash flows. With 53.3% of housing units renter-occupied (ranking in the top quartile nationally), the area demonstrates strong rental demand fundamentals.
Built in 1983, this property aligns with the neighborhood's average construction year of 1988, indicating potential value-add opportunities through strategic renovations and unit improvements. The area shows solid housing market fundamentals, ranking in the top quartile nationally for housing metrics, while median contract rents of $1,540 have grown 37.6% over five years.
Demographics within a 3-mile radius show a stable tenant base with 132,926 residents and balanced age distribution. The area maintains affordability with median household income of $77,616, though rent-to-income ratios suggest some affordability pressure that requires careful lease management. Forecasts indicate household growth of 33.9% through 2028, expanding the potential renter pool and supporting long-term occupancy stability.
Amenity access varies across categories, with above-average grocery store density (2.22 per square mile, ranking in the top quartile nationally) supporting tenant convenience, while limited cafe and childcare options may affect tenant retention in certain demographics.
The neighborhood's safety profile shows mixed signals that require monitoring. Property crime rates rank in the middle tier among metro neighborhoods (365th of 997), placing it near the national median for similar urban areas. However, property crime has increased significantly over the past year, which warrants attention in tenant retention and security planning.
Violent crime rates remain relatively low at 17.7 incidents per 100,000 residents, ranking in the upper half of metro neighborhoods (317th of 997) and performing above the national average. The modest 5.3% increase in violent crime year-over-year suggests the area maintains reasonable stability compared to regional trends.
The property benefits from proximity to several major corporate employers that provide workforce housing demand, including manufacturing, logistics, and healthcare companies within commuting distance.
- General Mills — food manufacturing (6.3 miles)
- Waste Management — environmental services (6.4 miles)
- Ryder Vehicle Sales — transportation services (7.7 miles)
- Mckesson Medical Surgical — healthcare distribution (8.6 miles)
- Kinder Morgan — energy infrastructure (14.5 miles)
This 20-unit property offers value-add potential in a stabilized rental market with strong occupancy fundamentals. The neighborhood's 94.2% occupancy rate outperforms many metro areas, while the high concentration of renter-occupied units (53.3%, top quartile nationally) indicates sustained rental demand. Built in 1983, the property presents renovation upside opportunities to capture rent growth in a market where contract rents have increased 37.6% over five years.
Demographic projections show household growth of 33.9% through 2028, expanding the tenant base and supporting long-term occupancy stability. The urban core location provides access to employment centers while maintaining competitive rental rates. However, investors should monitor affordability pressures and recent property crime increases that may impact tenant retention and require proactive management strategies.
- Strong rental demand with 53.3% renter occupancy ranking top quartile nationally
- Above-average neighborhood occupancy at 94.2% supports cash flow stability
- Value-add potential from 1983 construction year with renovation upside
- Projected 33.9% household growth through 2028 expands tenant pool
- Risk: Affordability pressure and rising property crime require active management