| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Good |
| Demographics | 22nd | Poor |
| Amenities | 58th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 615 Virginia Ave, Ontario, CA, 91764, US |
| Region / Metro | Ontario |
| Year of Construction | 1986 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
615 Virginia Ave Ontario Multifamily Investment Opportunity
Neighborhood occupancy is strong and renter demand is deep in this Ontario, CA submarket, according to WDSuite’s CRE market data, supporting stable operations for well-managed 20-unit assets.
Competitive among 997 Riverside–San Bernardino–Ontario neighborhoods, this Urban Core location pairs high renter demand with durable occupancy. Neighborhood occupancy trends sit in the top decile nationally, signaling supportive conditions for consistent leasing at the property level without implying performance at the asset itself.
Daily needs are well served: cafes, grocery stores, and pharmacies are dense for the area, while parks and formal childcare options are relatively limited. Average school ratings in the neighborhood sit below national norms, an important consideration for tenant mix and retention strategies.
The area’s housing stock skews older (neighborhood average vintage around the late 1940s), while the subject property’s 1986 construction is newer than much of the local inventory. That relative age advantage can support competitiveness versus older properties, though investors should still account for aging systems and selective modernization to meet current renter expectations.
Renter concentration is high (share of housing units that are renter-occupied is elevated), which broadens the tenant base and supports demand depth for multifamily. Median contract rents in the neighborhood have advanced over the past five years, and the rent-to-income profile indicates affordability pressures that call for thoughtful lease management rather than aggressive escalations. Elevated home values and a high value-to-income ratio in this high-cost ownership market tend to reinforce reliance on rental housing, which can aid pricing power and lease retention for well-positioned assets. These observations are based on commercial real estate analysis from WDSuite and reflect neighborhood-level metrics, not the property’s own performance.
Within a 3-mile radius, demographics indicate a stable population with a modest increase in households and families in recent years. Forward-looking data point to a potential contraction in population alongside an increase in household count and smaller average household size, which can translate into a larger pool of households seeking rental options and support occupancy stability for appropriately sized units.
Safety indicators are mixed at the neighborhood level. Overall crime sits below the national median (lower national percentile), while violent offense metrics trend more favorable than national averages (higher national percentile) and property offense measures sit closer to the middle of the national distribution. These comparisons are neighborhood-wide and not block-specific; investors should pair them with on-the-ground diligence and recent trend checks.
Given the variability across offense types and recent-year shifts, prudent underwriting would account for property-level security posture, lighting, access control, and resident engagement, as well as coordination with local law enforcement data to validate near-term trends.
The surrounding employment base features logistics, industrial services, and healthcare distributors that help sustain workforce renter demand and commute convenience. Notable nearby employers include Waste Management, General Mills, Ryder Vehicle Sales, McKesson Medical Surgical, and Kinder Morgan.
- Waste Management — environmental services (5.6 miles)
- General Mills — food manufacturing/distribution (6.4 miles)
- Ryder Vehicle Sales — transportation/logistics (6.9 miles)
- Mckesson Medical Surgical — healthcare distribution (7.8 miles)
- Kinder Morgan — energy infrastructure (15.1 miles)
615 Virginia Ave offers a 20-unit, 1986-vintage asset in an Urban Core pocket of Ontario where neighborhood occupancy trends rank among the strongest nationally. The property’s vintage is newer than much of the local housing stock, which can provide a competitive edge versus older inventory; investors should still budget for targeted system updates and modernization to optimize rentability. Elevated home values in the area reinforce reliance on rental housing, supporting demand depth for well-positioned multifamily. These takeaways are based on CRE market data from WDSuite.
Within a 3-mile radius, recent history shows steady household growth and income gains, with projections indicating smaller household sizes and more households even if the overall population edges down — a setup that can broaden the renter pool and support occupancy stability for mid-sized units like the property’s average 817 sq. ft. layouts. Amenity access is strong for daily needs, though limited parks, childcare, and below-average school ratings suggest a tenant mix more oriented toward workforce renters than families seeking top-rated schools.
- Neighborhood occupancy trends are top-tier nationally, supporting leasing stability
- 1986 construction is newer than nearby stock, with value-add via selective modernization
- High-cost ownership market underpins renter reliance and pricing power potential
- 3-mile radius shows more households and smaller sizes, expanding the renter base
- Risks: mixed safety signals, limited parks/childcare, and affordability pressures require prudent lease management