| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 76th | Best |
| Amenities | 29th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11 Tennessee St, Redlands, CA, 92373, US |
| Region / Metro | Redlands |
| Year of Construction | 1986 |
| Units | 120 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
11 Tennessee St Redlands Multifamily Investment
Neighborhood fundamentals point to durable renter demand and occupancy stability, according to WDSuite’s CRE market data. The area shows strong restaurant access and high-income households relative to the metro, supporting consistent leasing for a 120-unit asset.
Redlands’ inner-suburb location provides a balanced demand profile for multifamily. Neighborhood-level occupancy is in the top percentile nationally and at the top of the metro’s 997 neighborhoods, indicating stable leasing conditions at the neighborhood level rather than the specific property. Restaurant density ranks in a higher national band, while grocery access is also strong; by contrast, cafes, parks, and pharmacies are limited within the immediate neighborhood, which may modestly affect walkable convenience.
Housing and demographics signal a solid renter base. Within a 3-mile radius, the share of housing units that are renter-occupied is roughly on par with owners, supporting a deep tenant pool and day-to-day leasing velocity. Median rents benchmark high versus national peers, yet the neighborhood’s rent-to-income profile is comparatively manageable, which can aid retention and reduce turnover risk. Elevated home values in this high-cost ownership market further sustain renter reliance on multifamily housing, reinforcing pricing power when supported by product quality.
Workforce and income trends are constructive for demand. Neighborhood income measures sit above national medians, and degree attainment measures are competitive among Riverside–San Bernardino–Ontario neighborhoods. In the 3-mile radius, recent population and household growth has expanded the tenant base, with forecasts pointing to continued household gains over the next five years; this supports occupancy stability and leasing depth. These dynamics, paired with higher national-percentile housing and amenities ratings, position the area as competitive within the metro for multifamily investment, based on commercial real estate analysis from WDSuite.
Vintage considerations matter. The submarket’s average construction year trends slightly newer than this asset’s 1986 vintage. For investors, that typically translates to potential value-add through interior upgrades, common-area refreshes, or system modernization, balanced against prudent capital planning to maintain competitiveness versus newer stock.
Neighborhood-level crime metrics are not available in WDSuite for this specific area, so investors should supplement with city and police department sources for a fuller view. As with most inner-suburb locations, safety perceptions can vary by corridor and time of day; evaluating recent trend reports and property-level measures (lighting, access control, on-site management) is advisable during diligence.
Proximity to a diversified employer base supports renter demand and commute convenience for workforce households. Nearby employers span energy infrastructure, packaged foods, medical distribution, and environmental services.
- Kinder Morgan — energy infrastructure (9.7 miles)
- General Mills — packaged foods (14.0 miles)
- Mckesson Medical Surgical — medical distribution (27.8 miles)
- Waste Management — environmental services (28.1 miles)
This 120-unit, 1986-vintage asset benefits from neighborhood-level occupancy that sits at the top of the metro and in the highest national band, indicating durable leasing conditions at the neighborhood scale. Within a 3-mile radius, population and household growth expand the renter pool, while elevated home values reinforce reliance on rental housing. Rents benchmark high nationally, but rent-to-income levels suggest manageable affordability pressure, supporting retention and steady collections.
The 1986 vintage presents clear value-add pathways—interior modernization, amenities, and building systems—needed to stay competitive versus slightly newer neighborhood stock. According to CRE market data from WDSuite, strong restaurant and grocery access, a balanced renter-occupied share, and above-average income profiles underpin demand, while limited cafes, parks, and pharmacies locally and typical older-asset capex are notable considerations.
- Neighborhood occupancy in the highest national band supports leasing stability
- 3-mile population and household growth expands the tenant base and supports absorption
- High-cost ownership market sustains rental demand and pricing power when product is competitive
- 1986 vintage offers value-add potential through renovations and system updates
- Risks: localized amenity gaps (cafes/parks/pharmacies) and ongoing capex needs for an older asset