| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 21st | Poor |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1649 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 |
1649 E G St Ontario 24-Unit Multifamily Investment
Neighborhood occupancy has been consistently high with a majority renter-occupied housing stock, according to WDSuite’s CRE market data, supporting stable cash flow potential relative to broader Inland Empire trends.
Located in Ontario California, the property sits in a B-rated Urban Core neighborhood that is competitive among Riverside San Bernardino Ontario submarkets. Neighborhood occupancy is strong and ranks in the top quartile among 997 metro neighborhoods, a positive indicator for near-term leasing stability and renewal potential at comparable assets.
Local livability is supported by a dense mix of daily needs and dining. Restaurants and grocery options are abundant by regional standards, while parks are notably plentiful. Caf e9s and pharmacies are less concentrated nearby, which may modestly limit walk-to conveniences but does not detract from essential retail access.
Renter demand fundamentals are reinforced by a high-cost ownership environment relative to incomes in this neighborhood and the broader Inland Empire. Elevated home values tend to sustain reliance on multifamily housing, which can aid retention and pricing power when managed thoughtfully.
Within a 3-mile radius, recent years show population growth alongside an increase in households, and forward-looking projections point to household gains and smaller average household sizes even as total population is expected to ease. For investors, that combination typically expands the tenant base and supports occupancy stability across well-positioned assets. Average school ratings trail national norms, which may matter for family-oriented leasing strategies, but strong neighborhood occupancy and renter concentration suggest durable workforce demand.
Safety indicators for the neighborhood track below national and metro averages, with crime performance outside the top half of U.S. neighborhoods and a weaker rank versus many of the 997 metro neighborhoods. Investors should underwrite appropriate security measures and management practices, and compare recent trendlines with peer submarkets to contextualize risk.
As always, crime trends are neighborhood-level indicators and can vary by block. Pair on-the-ground diligence with recent comps to assess how safety perceptions may influence leasing velocity and retention.
Proximity to diversified corporate operations supports a broad renter base and commute convenience for workforce tenants. Nearby employers include General Mills, Waste Management, Ryder, McKesson Medical Surgical, and Kinder Morgan.
- General Mills consumer packaged goods operations (5.9 miles)
- Waste Management environmental services (6.2 miles)
- Ryder Vehicle Sales transportation & logistics (7.6 miles)
- Mckesson Medical Surgical healthcare distribution (8.3 miles)
- Kinder Morgan energy infrastructure offices (14.3 miles)
Built in 1984, the 24-unit asset presents practical value-add and capital planning opportunities relative to the neighborhood s newer average stock. Strong neighborhood occupancy and a deep renter pool, paired with a high-cost ownership market, point to steady demand for well-managed workforce units. According to CRE market data from WDSuite, neighborhood occupancy performs above metro norms, reinforcing potential for stable collections when operations are disciplined.
Within a 3-mile radius, households are increasing and are projected to grow further even as overall population moderates, implying smaller household sizes and a larger pool of renters entering the market. Investors should weigh these strengths against below-average school ratings and safety metrics, and monitor affordability pressure in lease management to sustain retention.
- High neighborhood occupancy and majority renter-occupied housing support leasing stability
- 1984 vintage offers renovation and systems-upgrade potential versus newer local stock
- Elevated ownership costs in the area reinforce reliance on multifamily housing
- 3-mile household growth and smaller household sizes expand the tenant base
- Risks: below-average safety and school ratings; manage affordability to protect retention