| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 56th | Good |
| Amenities | 73rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2427 S Fern Ave, Ontario, CA, 91762, US |
| Region / Metro | Ontario |
| Year of Construction | 1986 |
| Units | 41 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2427 S Fern Ave Ontario Multifamily Investment
This 41-unit property built in 1986 sits in a top-quartile Ontario neighborhood where occupancy exceeds 96% and median household incomes have climbed nearly 44% over five years, according to CRE market data from WDSuite.
This Ontario neighborhood ranks 37th among 997 neighborhoods in the Riverside–San Bernardino–Ontario metro, earning an A+ rating and placing in the 73rd national percentile for amenities. Median household income within the immediate area reaches $123,571, ranking in the 87th percentile nationally, while the three-mile radius reports a median of $87,806—both figures reflecting income growth above 39% over the past five years. That upward trajectory supports stable tenant demand and retention, particularly in a submarket where renter-occupied units account for 27% of housing tenure and the neighborhood-level occupancy rate stands at 96.3%.
The property was constructed in 1986, placing it slightly older than the neighborhood average vintage of 1990. For investors, this suggests near-term capital expenditure planning for mechanical systems, unit interiors, and common areas, alongside potential value-add opportunities through selective renovation. Median home values in the immediate neighborhood have risen 45% to $620,591 over five years, ranking in the 90th percentile nationally. Elevated ownership costs at this level reinforce reliance on rental housing and sustain multifamily demand, particularly as median contract rents in the neighborhood have increased 9.5% to $1,830.
Demographic statistics aggregated within a three-mile radius show a population of approximately 128,700, forecast to grow 2.7% through 2028, with household counts projected to rise 37.8% and median household income expected to climb 43.5% to $126,043. That expansion translates to a larger renter pool and improved affordability cushion for existing tenants. The neighborhood's rent-to-income ratio of 0.18 ranks in the 37th percentile nationally, indicating manageable affordability pressure and lower lease retention risk relative to higher-cost metros.
Amenity density is strong: the area records 7.93 restaurants per square mile (87th percentile nationally), 2.64 grocery stores per square mile (88th percentile), 1.32 childcare centers per square mile (87th percentile), and 1.32 parks per square mile (89th percentile). Average school ratings reach 3.5 out of 5, placing the neighborhood in the 73rd percentile nationally. These factors combine to support tenant appeal and day-to-day livability, both of which contribute to occupancy stability and renewal rates in a competitive submarket.
The neighborhood's overall crime rank is 718th among 997 metro neighborhoods, placing it in the 38th percentile nationally—slightly below the midpoint. Violent offense rates stand at approximately 9.2 incidents per 100,000 residents, ranking in the 71st percentile nationally, which indicates relatively low violent crime compared to other neighborhoods across the country. Property offense rates, however, have increased sharply year-over-year, ranking in the lower range for trend performance.
For investors, these metrics suggest a mixed safety profile. While violent crime remains comparatively low, the uptick in property offenses warrants attention during due diligence, particularly regarding on-site security measures, lighting, and tenant communication protocols. Prospective buyers should verify current property-level loss history, review insurance underwriting, and assess any recent capital improvements aimed at deterrence. Overall, the safety environment appears competitive within the metro but may require proactive management to maintain tenant confidence and retention.
The property benefits from proximity to several major corporate offices that anchor employment in the Inland Empire, supporting workforce housing demand and commute convenience for tenants.
- Waste Management — corporate offices (2.6 miles)
- Ryder Vehicle Sales — corporate offices (4.7 miles)
- McKesson Medical Surgical — healthcare distribution (4.8 miles)
- General Mills — food manufacturing & distribution (6.9 miles)
- United Technologies — aerospace & industrial (14.4 miles)
This 41-unit Ontario property offers a combination of high neighborhood-level occupancy, rising incomes, and demographic tailwinds that underpin stable multifamily demand. Neighborhood occupancy exceeds 96%, ranking in the 79th percentile nationally, while median household income has grown 44% over five years and is forecast to climb another 43.5% through 2028. The three-mile population is projected to add households at a 37.8% pace, expanding the renter pool and supporting absorption. Elevated home values—median $620,591 in the immediate area—limit ownership accessibility and reinforce reliance on rental housing, sustaining tenant demand and lease retention.
Built in 1986, the property is slightly older than the neighborhood average, presenting near-term capital planning considerations alongside value-add potential through unit upgrades and common-area enhancements. Strong amenity density (87th–89th percentile nationally for restaurants, groceries, childcare, and parks) and above-average school ratings (73rd percentile) support tenant appeal. However, the neighborhood's crime profile is mixed: violent offenses remain low (71st percentile nationally), but property offense rates have risen sharply year-over-year, warranting due diligence on security measures and insurance underwriting. Overall, the asset is positioned in a top-quartile metro neighborhood with solid income and occupancy fundamentals, balanced by renovation needs and localized safety considerations.
- Neighborhood occupancy above 96%, ranking in the 79th percentile nationally
- Median household income growth of 44% over five years, forecast to rise another 43.5% through 2028
- Elevated home values sustain rental demand and support lease retention
- Value-add opportunity through unit and common-area renovations given 1986 vintage
- Risk: Property offense rates have increased sharply; verify on-site security and insurance provisions