| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 21st | Poor |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1643 E G St, Ontario, CA, 91764, US |
| Region / Metro | Ontario |
| Year of Construction | 1984 |
| Units | 24 |
| Transaction Date | 2016-02-18 |
| Transaction Price | $27,500,000 |
| Buyer | CLEAR WATERFORD LLC |
| Seller | ML CASA III LP |
1643 E G St, Ontario CA Multifamily Investment
Stabilized renter demand and high neighborhood occupancy point to durable cash flow potential, according to WDSuite’s CRE market data, with value-add upside from a 1984 vintage relative to newer local stock.
Located in Ontario within the Riverside–San Bernardino–Ontario metro, the property sits in a neighborhood rated B and classified as Urban Core. Neighborhood occupancy is strong and top quartile nationally (ranked 240 among 997 metro neighborhoods; 89th percentile nationwide), supporting leasing stability for multifamily assets. Renter-occupied share in the neighborhood is elevated (58.4%), indicating a deep tenant base for small and mid-scale communities.
Livability is mixed but generally supportive of multifamily. Grocery access and restaurants are strengths — both are competitive among metro peers (grocery rank 81 of 997; restaurants rank 45 of 997) and score in the low-to-mid 90s nationally, while parks density trends similarly high. In contrast, cafes and pharmacies are limited within the neighborhood itself. Average public school ratings track below national norms, which may temper demand from some family renters and warrants positioning toward workforce and convenience-driven segments.
Relative pricing and demand drivers favor rentals. Median home values sit in a high-cost ownership context (84th percentile nationally) and value-to-income is elevated (94th percentile), conditions that tend to sustain reliance on multifamily rentals and can support pricing power. At the same time, rent-to-income metrics imply affordability pressure for some renter cohorts, suggesting attention to unit mix and lease management to maintain retention.
Demographic trends are aggregated within a 3-mile radius. Over the last five years, the area has added population and households, expanding the local renter pool; forward outlooks indicate smaller average household sizes and a continued increase in total households, which can support occupancy even if population growth moderates. Neighborhood operating performance also screens well, with NOI per unit around the mid-to-upper national range (76th percentile) based on CRE market data from WDSuite.
Vintage considerations are notable: the asset was built in 1984, while the neighborhood skews somewhat newer on average (1991). This points to potential value-add through targeted renovations and systems updates to remain competitive against newer stock.
Safety indicators compare less favorably versus the metro and nation. The neighborhood’s crime rank sits at 900 among 997 metro neighborhoods, and its overall safety level aligns with the lower national percentiles (around the mid-20s). This suggests investors should underwrite conservative security and operations plans and monitor local trends rather than relying on block-level assumptions.
Offense rates in recent reporting have hovered around national midpoints for some categories, but year-over-year fluctuations have been elevated. A prudent approach is to incorporate appropriate lighting, access control, and resident engagement measures into budgets and to benchmark performance against nearby Ontario submarkets over time.
Proximity to a diverse employment base supports workforce housing demand and commute convenience, anchored by food manufacturing, environmental services, logistics, and healthcare distribution. Nearby employers include General Mills, Waste Management, Ryder Vehicle Sales, McKesson Medical Surgical, and Kinder Morgan.
- General Mills — food manufacturing offices (5.9 miles)
- Waste Management — environmental services (6.2 miles)
- Ryder Vehicle Sales — logistics and fleet services (7.6 miles)
- Mckesson Medical Surgical — healthcare distribution (8.2 miles)
- Kinder Morgan — energy infrastructure offices (14.3 miles)
This 24-unit 1984 community benefits from Ontario’s strong renter orientation and high neighborhood occupancy, supporting steady leasing and cash flow. Elevated home values and ownership costs in the area reinforce multifamily demand, while restaurants, groceries, and parks density enhance day-to-day livability for residents. According to CRE market data from WDSuite, neighborhood NOI per unit trends in the upper national range and occupancy is well above metro medians, pointing to durable fundamentals.
The vintage relative to newer local stock provides a clear value-add path through selective interior and systems upgrades to sharpen competitiveness. Key underwriting considerations include below-average school ratings, limited cafe/pharmacy options nearby, safety positioning versus the metro, and managing affordability pressure to sustain retention.
- High neighborhood occupancy and strong renter concentration support stable leasing
- Elevated ownership costs bolster rental demand and pricing power potential
- 1984 vintage creates value-add opportunity versus newer competing stock
- Amenity strengths in groceries, restaurants, and parks aid tenant retention
- Risks: safety positioning, lower school ratings, and affordability pressures require active management