| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Good |
| Demographics | 34th | Fair |
| Amenities | 29th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 341 N Grove St, Redlands, CA, 92374, US |
| Region / Metro | Redlands |
| Year of Construction | 1990 |
| Units | 21 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
341 N Grove St Redlands Multifamily Investment
This 21-unit property built in 1990 is positioned in a neighborhood with 97% occupancy rates and strong rental demand dynamics. Commercial real estate analysis from WDSuite indicates the area maintains high renter concentration at 90% of housing units.
The property sits in an Inner Suburb neighborhood of Redlands that demonstrates solid fundamentals for multifamily investors. Built in 1990, this asset represents newer construction relative to the neighborhood average of 1954, potentially reducing near-term capital expenditure requirements compared to older housing stock in the area.
Occupancy metrics show strength with neighborhood-level rates at 97%, ranking in the 83rd percentile nationally among comparable areas. The rental market maintains depth with 89.9% of housing units occupied by renters, ranking in the top percentile nationwide and indicating sustained demand for rental housing. Median contract rents of $1,589 have grown 60% over five years, though investors should monitor rent-to-income ratios at 0.28, which rank in the 8th percentile nationally and may signal affordability pressures affecting lease renewals.
Demographics within a 3-mile radius support rental demand with a population of over 71,000 residents and median household income of $98,196. Household growth of 5.5% over five years indicates expanding renter pools, with projections showing continued household formation through 2028. The area's median home value of $397,400 and strong ownership cost dynamics help sustain rental demand by keeping potential renters in the multifamily market.
Local amenities include grocery access with 2 stores per square mile ranking in the 83rd percentile nationally, and childcare facilities ranking in the 92nd percentile. However, restaurant and cafe density remains limited, which may affect tenant appeal for lifestyle-oriented renters. School ratings average 2.0 out of 5, ranking in the 37th percentile nationally.
Safety data for this neighborhood is not currently available in the provided market analysis. Investors should conduct independent due diligence on local crime trends and consider engaging with local law enforcement agencies or security consultants to assess area safety conditions as part of their investment evaluation process.
The Redlands area benefits from proximity to established corporate employers that support workforce housing demand, with major operations within commuting distance including energy infrastructure and food manufacturing facilities.
- Kinder Morgan — energy infrastructure (11.9 miles)
- General Mills — food manufacturing (15.2 miles)
- General Mills — food manufacturing (21.5 miles)
- Mckesson Medical Surgical — healthcare distribution (30.1 miles)
- Waste Management — environmental services (30.4 miles)
This 21-unit property built in 1990 offers investors exposure to a rental market with exceptional occupancy fundamentals and sustained demand drivers. According to CRE market data from WDSuite, neighborhood occupancy rates of 97% rank in the 83rd percentile nationally, while the area's 90% renter concentration ranks in the top percentile among metro neighborhoods. The 1990 construction year positions the asset favorably relative to the neighborhood's 1954 average, potentially reducing immediate capital expenditure needs while maintaining competitive positioning.
Demographics within a 3-mile radius show household growth of 5.5% over five years with median income of $98,196, supporting rental demand through 2028. Home values averaging $397,400 help sustain renter reliance on multifamily housing, though rent-to-income ratios at the 8th percentile nationally warrant monitoring for lease renewal and pricing strategies.
- Exceptional occupancy stability with 97% neighborhood rates ranking 83rd percentile nationally
- Strong rental market depth with 90% renter concentration in top percentile
- Newer vintage relative to area average reduces near-term capital expenditure risk
- Growing household base within 3-mile radius supports tenant demand
- Risk: Low rent-to-income ratios may pressure lease renewals and limit rent growth