| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Good |
| Demographics | 62nd | Best |
| Amenities | 20th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 301 S Wabash Ave, Redlands, CA, 92374, US |
| Region / Metro | Redlands |
| Year of Construction | 2005 |
| Units | 40 |
| Transaction Date | 2012-05-21 |
| Transaction Price | $7,744,000 |
| Buyer | MOUNTAIN VIEW SENIOR LIVING LLC |
| Seller | CITRUS PLACE VILLAGE LLC |
301 S Wabash Ave Redlands Multifamily Investment
This suburban Redlands property operates in a neighborhood with strong safety metrics ranking in the top quartile nationally, according to CRE market data from WDSuite.
The Redlands neighborhood demonstrates competitive fundamentals among the 997 metro neighborhoods, earning a B rating with balanced housing and demographic metrics. The area ranks in the 70th percentile nationally for housing characteristics and maintains a median household income of $87,729 within a 3-mile radius. With 36.9% of housing units occupied by renters, the neighborhood supports sustained rental demand in a market where homeownership costs average $472,623.
Built in 2005, this 40-unit property aligns with the neighborhood's average construction year of 1979, positioning it as newer stock that may require less immediate capital expenditure compared to older multifamily assets. The neighborhood maintains a 92.1% occupancy rate with median contract rents of $1,506, though occupancy has declined modestly over the past five years. Schools in the area average a 4.0 rating out of five, ranking in the 84th percentile nationally, which supports family tenant retention.
Demographic projections within the 3-mile radius indicate household growth of 35.5% over the next five years, with median household income forecast to increase 52.9% to $161,332. This expansion in the renter pool, combined with projected rent growth of 54% to $2,497, suggests strengthening fundamentals for multifamily operators who can manage through the transition period.
The neighborhood demonstrates exceptional safety metrics, ranking 17th among 997 metro neighborhoods for overall crime, placing it in the 83rd percentile nationally. Property crime rates of 26.5 incidents per 100,000 residents rank in the 81st percentile compared to neighborhoods nationwide, while violent crime remains exceptionally low at 1.45 incidents per 100,000 residents, ranking in the 97th percentile nationally.
Crime trends show improvement, with property offenses declining 16.3% year-over-year and violent crime dropping 77.2% over the same period. These safety fundamentals support tenant retention and can reduce security-related operating expenses compared to higher-crime submarkets.
The Redlands area benefits from proximity to established corporate offices across manufacturing, logistics, and consumer goods sectors that support workforce housing demand.
- Kinder Morgan — energy infrastructure (13.3 miles)
- General Mills — consumer goods manufacturing (15.1 miles)
- General Mills — consumer goods operations (22.8 miles)
- Mckesson Medical Surgical — healthcare distribution (31.3 miles)
This 2005-vintage property operates in a neighborhood with above-average safety metrics and projected household growth of 35.5% over five years within a 3-mile radius. The area's 92.1% occupancy rate and $1,506 median rents provide a stable baseline, while demographic projections suggest strengthening rental demand as household income growth outpaces rent increases. According to commercial real estate analysis from WDSuite, the neighborhood ranks competitively across housing and safety metrics compared to the broader Riverside-San Bernardino metro.
The property's newer construction relative to the 1979 neighborhood average may reduce near-term capital expenditure needs while positioning it favorably among local rental stock. However, investors should monitor the recent occupancy decline and plan for potential concessions during the market transition period.
- Strong safety fundamentals with crime rates in top quartile nationally
- Projected 35.5% household growth within 3-mile radius over five years
- 2005 construction year provides competitive positioning among neighborhood stock
- Risk: Recent occupancy decline requires attention to retention and concessions