| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Good |
| Demographics | 40th | Good |
| Amenities | 42nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 251 N Elderberry Ave, Ontario, CA, 91762, US |
| Region / Metro | Ontario |
| Year of Construction | 1986 |
| Units | 20 |
| Transaction Date | 2017-01-08 |
| Transaction Price | $2,980,000 |
| Buyer | ELDERBERRY ONTARIO LLC |
| Seller | FISHER BRADLEY JAY |
251 N Elderberry Ave Ontario Multifamily Opportunity
Neighborhood occupancy is strong and has trended steady, supporting leasing durability for a 20-unit asset, according to WDSuite’s CRE market data. Metrics cited are for the surrounding neighborhood, not the property.
Situated in Ontario’s Urban Core within the Riverside–San Bernardino–Ontario metro, the neighborhood posts a B+ rating and is above the metro median (ranked 308 of 997 metro neighborhoods). Restaurant density is competitive versus national benchmarks (around the 84th percentile), and access to parks is a standout strength (around the 94th percentile), which can aid renter retention. Groceries are reasonably accessible (around the 71st percentile), while cafes and pharmacies are comparatively sparse, implying daily conveniences skew toward larger-format retail.
Neighborhood occupancy is in the top quartile nationally (around the 93rd percentile; rank 160 of 997 metro neighborhoods), signaling stable renter demand and low frictional vacancy at the neighborhood level. Median contract rents benchmark in the upper ranges nationally (around the 79th percentile), while the rent-to-income ratio trends on the lower side nationally, suggesting manageable affordability pressure that can support lease stability.
Schools score well versus national peers (top quartile nationally; 11th of 997 metro neighborhoods on average rating), a family-friendly signal that often correlates with lower turnover. Home values sit in elevated territory (around the 86th percentile nationally) and the value-to-income ratio is high (around the 90th percentile), indicating a high-cost ownership market that tends to reinforce reliance on multifamily housing and support pricing power where product quality is competitive.
Demographic trends within a 3-mile radius point to a larger tenant base over the next cycle: households are projected to increase meaningfully by 2028 alongside rising median incomes, expanding the renter pool and supporting occupancy stability. Within the neighborhood, renter-occupied units account for roughly two-fifths of housing, while within a 3-mile radius renters comprise just over half—together indicating a deep base of multifamily demand for workforce and middle-income product. These dynamics, based on commercial real estate analysis from WDSuite, favor durable absorption for well-maintained 1980s-vintage assets.
Safety indicators are mixed and should be evaluated with current, property-specific diligence. At the neighborhood level, the overall crime rank sits worse than the metro median (ranked 860 of 997), placing the area below national averages on aggregate safety. However, violent-offense indicators track better than national midline (around the 63rd percentile nationwide), while property-offense measures have shown volatility year over year. Interpreting these trends comparatively—not block by block—helps set realistic expectations for tenant screening, security measures, and operating expense planning.
Proximity to established employers supports renter demand via short commutes for operations, logistics, and healthcare distribution roles. The roster below reflects nearby employment nodes most relevant to workforce housing in this submarket.
- Waste Management — waste services (4.3 miles)
- Ryder Vehicle Sales — transportation & logistics (4.6 miles)
- Mckesson Medical Surgical — medical distribution (7.1 miles)
- General Mills — food manufacturing (8.6 miles)
- United Technologies — aerospace & industrial offices (15.0 miles)
This 20-unit asset, built in 1986, is newer than the neighborhood’s average vintage, offering relative competitiveness versus older stock while leaving room for targeted modernization of systems and finishes. Neighborhood occupancy performs in the top quartile nationally and above the metro median, reinforcing the case for stable collections and limited downtime between turns. Elevated ownership costs in the area further sustain reliance on rental housing, and nearby parks, schools, and basic retail access help with retention. According to CRE market data from WDSuite, neighborhood rents benchmark high nationally while rent-to-income levels remain manageable, supporting thoughtful revenue management without overextending residents.
Within a 3-mile radius, forecasts point to meaningful household growth and higher incomes by 2028, expanding the tenant base for quality, mid-1980s product. Given mixed but improving violent-offense comparisons and limited café/pharmacy density, underwriting should incorporate pragmatic security, marketing, and amenity strategies, alongside potential capex for modernization to defend positioning against newer deliveries.
- Occupancy strength and top-quartile positioning support leasing stability
- 1986 vintage offers competitive standing with targeted value-add upside
- High-cost ownership market reinforces multifamily demand and pricing power
- 3-mile outlook indicates a growing, higher-income renter pool
- Risks: crime volatility and limited small-format amenities warrant conservative underwriting