| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Good |
| Demographics | 28th | Fair |
| Amenities | 31st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 154 N Palmetto Ave, Ontario, CA, 91762, US |
| Region / Metro | Ontario |
| Year of Construction | 1973 |
| Units | 28 |
| Transaction Date | 1996-07-03 |
| Transaction Price | $950,000 |
| Buyer | DEFALCO JOHN A |
| Seller | PALMETTO VILLAS INVESTORS LLC |
154 N Palmetto Ave Ontario Multifamily Investment
This 28-unit property built in 1973 offers value-add potential in a renter-heavy neighborhood with 97% rental share and strong occupancy fundamentals according to CRE market data from WDSuite.
Located in Ontario's urban core, this neighborhood demonstrates strong rental demand with 69.3% of housing units renter-occupied, ranking among the top 3% nationally for rental concentration. Median contract rents reach $1,730, placing the area in the top 14% among the metro's 997 neighborhoods, while neighborhood-level occupancy holds at 96.4%.
Demographics within a 3-mile radius show a stable tenant base with 173,271 residents and household income growth of 44.6% over five years. The area maintains above-average grocery access with 6.54 stores per square mile, ranking in the 98th percentile nationally. However, amenity density remains limited with minimal cafes, parks, and childcare facilities, which may affect tenant retention in competitive leasing periods.
The 1973 construction year aligns with the neighborhood average of 1968, indicating consistent building stock that may present capital expenditure planning opportunities for value-add investors. Forecasted demographic trends suggest household growth of 35% through 2028, supporting expanded renter demand as median rent is projected to increase 43% to $2,232.
Property crime rates in this neighborhood rank 591st among 997 metro neighborhoods, placing it near the middle of the distribution with an estimated rate of 489 incidents per 100,000 residents. While violent crime rates remain relatively lower at 42 incidents per 100,000 residents, both property and violent crime metrics showed significant year-over-year increases that warrant monitoring for tenant retention considerations.
The neighborhood's overall crime rank of 911th among 997 metro neighborhoods indicates above-average crime levels compared to the broader region. Investors should factor security considerations into property management strategies and capital planning for potential safety enhancements.
The surrounding employment base includes diversified corporate operations that support workforce housing demand in this urban core location.
- Waste Management — waste services (4.4 miles)
- Ryder Vehicle Sales — commercial vehicle services (4.9 miles)
- Mckesson Medical Surgical — healthcare distribution (7.1 miles)
- General Mills — consumer goods manufacturing (8.2 miles)
This 28-unit property presents a value-add opportunity in Ontario's established rental market, where the neighborhood's 97th percentile ranking for rental concentration demonstrates sustained multifamily demand. Built in 1973, the property offers renovation upside potential while benefiting from strong occupancy fundamentals at 96.4% neighborhood-level performance. Demographic projections show household growth of 35% through 2028, supporting an expanding tenant base as median household income continues rising.
The location benefits from excellent grocery access and established rental dynamics, though limited amenity density may require strategic tenant retention efforts. Multifamily property research indicates rent growth potential with projected increases to $2,232 by 2028, while the area's urban core classification supports workforce housing demand from nearby corporate employers.
- Strong rental market fundamentals with 97th percentile rental concentration nationally
- Value-add potential from 1973 construction year and renovation opportunities
- Projected 35% household growth through 2028 supporting tenant demand
- Risk consideration: Above-average crime levels require security planning and management attention