| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Fair |
| Demographics | 34th | Fair |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 132 New York St, Redlands, CA, 92373, US |
| Region / Metro | Redlands |
| Year of Construction | 1979 |
| Units | 42 |
| Transaction Date | 2006-04-28 |
| Transaction Price | $5,000,000 |
| Buyer | J-Mar Investments Company, G.P. |
| Seller | 132 Foothill Investments LTD, LP |
132 New York St Redlands Multifamily Investment
This 42-unit property benefits from strong neighborhood rental demand with 98th percentile renter occupancy share and competitive rent levels above metro medians, according to WDSuite's CRE market data.
This inner suburb neighborhood ranks in the top quartile among 997 metro neighborhoods for overall amenities, driven by exceptional restaurant and cafe density that ranks 4th and 7th respectively within the Riverside-San Bernardino-Ontario metro. The area maintains strong rental fundamentals with a 98th percentile renter occupancy share nationally, indicating robust tenant demand despite neighborhood-level occupancy rates tracking below metro averages at 83.4%.
Built in 1979, this property is newer than the neighborhood's average construction year of 1956, positioning it favorably for reduced near-term capital expenditure needs compared to surrounding building stock. Median contract rents of $1,428 rank above metro median levels, while demographic data within a 3-mile radius shows household growth of 5.3% over five years, supporting an expanding renter pool of approximately 21,900 households.
Home values averaging $486,814 represent an 83rd percentile nationally, with a value-to-income ratio ranking in the 94th percentile nationwide. These elevated ownership costs can help maintain households in the rental market, though investors should monitor renewal rates given the neighborhood's rent-to-income ratio ranks in the 11th percentile nationally, indicating affordability pressures for some tenant segments.
The neighborhood demonstrates favorable safety metrics compared to regional and national benchmarks. Crime statistics rank 44th out of 997 metro neighborhoods, placing it in the top quartile for overall safety within the Riverside-San Bernardino-Ontario area and achieving the 77th percentile nationally.
Property crime rates estimated at 36.8 incidents per 100,000 residents rank in the 78th percentile nationally, while violent crime rates show particularly strong performance at the 96th percentile nationwide. Recent trends indicate violent crime decreased by 77.1% year-over-year, though property crime increased modestly by 2.6%, suggesting continued monitoring of security measures may benefit tenant retention.
The employment base draws from diversified corporate offices within commuting distance, providing workforce housing demand from energy, consumer goods, and healthcare sectors.
- Kinder Morgan — energy infrastructure (10.0 miles)
- General Mills — consumer goods (14.4 miles)
- Mckesson Medical Surgical — healthcare distribution (28.2 miles)
- Waste Management — environmental services (28.4 miles)
This 42-unit property capitalizes on strong rental market fundamentals in an amenity-rich inner suburb location. The neighborhood's 98th percentile renter occupancy share nationally indicates sustained tenant demand, while above-median rent levels provide competitive income potential. According to CRE market data from WDSuite, demographic projections within a 3-mile radius show continued household growth of 7.3% through 2028, expanding the potential renter pool to over 30,900 households.
Built in 1979, the property's vintage aligns with value-add renovation opportunities while avoiding the extensive capital needs of older neighborhood stock averaging 1956 construction. High home values and value-to-income ratios in the 94th percentile nationally can help maintain rental demand, though affordability pressures reflected in low rent-to-income ratios warrant careful lease renewal strategies.
- Strong rental market with 98th percentile renter occupancy share nationally
- Above-median rent levels with competitive income potential
- Projected household growth of 41.3% through 2028 expanding tenant base
- 1979 construction year offers value-add potential with lower capital needs than neighborhood average
- Risk: Neighborhood-level occupancy at 83.4% trails metro averages, requiring active leasing management