| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Good |
| Demographics | 62nd | Best |
| Amenities | 20th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 30518 Independence Ave, Redlands, CA, 92374, US |
| Region / Metro | Redlands |
| Year of Construction | 1987 |
| Units | 108 |
| Transaction Date | 2016-07-28 |
| Transaction Price | $22,150,000 |
| Buyer | 30598 INDEPENDENCE AVE LLC |
| Seller | DEL FLORA APARTMENTS LLC |
30518 Independence Ave Redlands Multifamily Investment
This 108-unit property benefits from stable neighborhood occupancy and strong demographic fundamentals in the Riverside-San Bernardino metro. CRE market data from WDSuite indicates the area ranks in the top quartile nationally for safety metrics, supporting tenant retention and operational stability.
Built in 1987, this property sits within a suburban neighborhood that demonstrates solid fundamentals for multifamily investors. The vintage aligns with area averages and may present value-add opportunities through targeted capital improvements. With 37% of housing units renter-occupied, the neighborhood maintains a substantial rental base to support occupancy stability.
Demographic data aggregated within a 3-mile radius shows a median household income of $103,001, positioning the area competitively within the broader metro context. The neighborhood ranks above metro median for housing metrics and maintains a 92% occupancy rate, though this has declined modestly over the past five years. Rental demand fundamentals appear supported by moderate population growth of 5.7% over five years, with households increasing 7.7% during the same period.
The area's school ratings average 4.0 out of 5, ranking in the top quartile among 997 metro neighborhoods, which can enhance tenant appeal for families. However, amenity density remains limited, with minimal walkable retail and dining options that could affect tenant retention in competitive leasing environments. Contract rents in the neighborhood median at $1,506, with growth of 49% over five years reflecting broader market appreciation trends.
Home values median at $472,623 with 53% appreciation over five years, creating affordability pressures that can sustain rental demand as ownership costs remain elevated relative to area incomes. The rent-to-income ratio of 21% suggests manageable affordability for current tenant base, supporting lease renewal potential.
The neighborhood demonstrates strong safety metrics that support operational stability and tenant retention. Property crime rates rank in the top quintile among 997 metro neighborhoods, with an estimated rate of 26.5 incidents per 1,000 residents that has declined 16% over the past year. Violent crime metrics are particularly favorable, ranking 22nd among metro neighborhoods and placing in the 97th percentile nationally.
These safety trends have shown improvement, with violent offense rates declining 77% year-over-year, indicating positive momentum in neighborhood conditions. The combination of low crime rates and improving trends can support tenant satisfaction and reduce turnover-related costs for property operators.
The property benefits from proximity to established corporate employers that provide workforce housing demand within commutable distance.
- Kinder Morgan — energy infrastructure (13.3 miles)
- General Mills — food manufacturing (15.8 miles)
- General Mills — food manufacturing (22.9 miles)
- Mckesson Medical Surgical — healthcare services (31.5 miles)
- Waste Management — environmental services (31.8 miles)
This 108-unit property offers investors exposure to a stable suburban rental market with strong safety fundamentals and demographic support. The 1987 construction year positions the asset for potential value-add improvements while benefiting from established neighborhood infrastructure. According to commercial real estate analysis, the area's top-quartile safety ranking and above-average school ratings create tenant retention advantages in the competitive Riverside-San Bernardino market.
Demographic trends within a 3-mile radius show household growth of 7.7% over five years, expanding the potential tenant base while elevated home values sustain rental demand. The neighborhood's 92% occupancy rate and median household income of $103,001 indicate stable operating conditions, though operators should monitor recent occupancy softening and limited amenity density when setting rental strategies.
- Strong safety metrics ranking in top quintile among metro neighborhoods
- Household growth of 7.7% over five years supports rental demand
- Value-add potential from 1987 vintage and average unit size of 763 square feet
- Above-average school ratings enhance family tenant appeal
- Risk: Limited walkable amenities may affect tenant retention in competitive markets