| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Good |
| Demographics | 13th | Poor |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 224 W Merrill Ave, Rialto, CA, 92376, US |
| Region / Metro | Rialto |
| Year of Construction | 1991 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
224 W Merrill Ave, Rialto — 24-Unit Multifamily
Neighborhood occupancy is solid and renter demand is supported by a high-cost ownership market, according to WDSuite s CRE market data, positioning this asset for steady leasing with prudent expense management.
Located in an Inner Suburb setting of the Riverside San Bernardino Ontario metro, the surrounding neighborhood rates B with occupancy that has held near the upper end of local ranges. Restaurant density ranks 14th among 997 metro neighborhoods and sits in the 98th percentile nationally, indicating abundant dining options that enhance renter convenience. Grocery access is similarly strong (97th percentile nationally), while parks availability is also high (94th percentile nationally), supporting day-to-day livability.
The property s 1991 vintage is newer than the neighborhood s average construction year of 1967. For investors, that positioning can improve competitive standing versus older stock, while still planning for modernization of building systems and targeted unit updates to sustain leasing performance.
Tenure patterns vary by geography: neighborhood-level indicators point to a high renter-occupied share (ranked 19th of 997 metro neighborhoods), suggesting depth in the local tenant base. Within a 3-mile radius, households increased over the past five years and are projected to grow further, expanding the renter pool even as average household size trends lower. This combination typically supports occupancy stability and a consistent flow of prospective renters.
Home values in the area are elevated relative to income (value-to-income ratio in the 97th national percentile and home values around the 75th), reinforcing reliance on multifamily housing. For investors, this dynamic can aid retention and pricing power, though it warrants attentive lease management where rent-to-income ratios indicate potential affordability pressure.
Comparable neighborhood safety metrics are not available in WDSuite for this location at this time. Investors commonly benchmark against city and metro trends and monitor owner-operator reports for on-the-ground context as new data is released.
Nearby corporate offices help anchor employment and support renter demand through commute convenience, particularly in logistics, energy infrastructure, and consumer goods represented below.
- Kinder Morgan energy infrastructure (2.4 miles)
- General Mills consumer goods (10.4 miles)
- Waste Management environmental services (19.0 miles)
- Mckesson Medical Surgical healthcare distribution (19.5 miles)
- Ryder Vehicle Sales transportation & logistics (21.4 miles)
This 24-unit property benefits from a renter-oriented location with strong daily amenities and a high-cost ownership environment that tends to sustain multifamily demand. Based on CRE market data from WDSuite, neighborhood occupancy sits in the upper tiers locally, and restaurants, groceries, and parks rank competitively among 997 metro neighborhoods, reinforcing day-to-day convenience that supports leasing.
Built in 1991, the asset is newer than much of the nearby housing stock, which can enhance competitive positioning versus older product. Investors should plan for selective modernization and ongoing system updates to protect NOI, while leveraging a growing household base within a 3-mile radius to support rent rolls and retention.
- Renter-oriented location with abundant restaurants and groceries supporting leasing velocity
- 1991 construction offers relative competitiveness vs. older neighborhood stock with targeted value-add potential
- Elevated ownership costs in the area reinforce reliance on multifamily housing and tenant retention
- Household growth within a 3-mile radius expands the renter pool, supporting occupancy stability
- Risk: Affordability pressure requires careful lease and renewal management to sustain collections