| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Best |
| Demographics | 20th | Poor |
| Amenities | 26th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 268 N Spruce Ave, Rialto, CA, 92376, US |
| Region / Metro | Rialto |
| Year of Construction | 1973 |
| Units | 36 |
| Transaction Date | 1997-12-04 |
| Transaction Price | $986,820 |
| Buyer | NORTH SPRUCE LLC |
| Seller | SOL BROS LLC |
268 N Spruce Ave, Rialto Multifamily Investment
Stable neighborhood occupancy and a high renter-occupied share point to durable demand, according to WDSuite’s CRE market data. Elevated ownership costs in the metro support retention and pricing discipline for well-managed assets.
Rialto s inner-suburban setting provides a practical renter base for workforce housing. Neighborhood occupancy is in the top quartile nationally and above the metro median, supporting income stability for multifamily owners. The share of renter-occupied housing units is high compared with both metro and national benchmarks, indicating depth in the tenant pool and consistent leasing velocity.
Within a 3-mile radius, the population has edged higher in recent years and household counts have increased, expanding the local renter base. Projections call for further household growth alongside smaller average household sizes, which typically sustains demand for professionally managed apartments and supports occupancy stability.
Everyday needs are serviceable: restaurant density ranks strong relative to national peers, and grocery access is competitive for the metro. However, neighborhood-level parks, cafes, childcare, and pharmacies are limited, so investors should underwrite resident convenience primarily to regional retail corridors rather than immediate walkability.
Home values sit well above national norms for comparable neighborhoods, and the value-to-income relationship reflects a high-cost ownership market. For multifamily, this context tends to reinforce renter reliance on apartments and can aid lease retention, while a moderate rent-to-income profile signals manageable affordability pressure. The asset s 1973 vintage is older than the neighborhood s average stock, which points to value-add potential through targeted renovations and systems modernization.
Safety trends are comparatively favorable: the neighborhood scores in the top quartile nationally and is competitive among Riverside–San Bernardino–Ontario neighborhoods. Both property and violent offense rates have declined over the past year, which supports renter sentiment and lease stability without relying on block-level claims.
Proximity to established corporate operations supports a stable workforce renter base and commute convenience for residents. Nearby employers span energy infrastructure, food production, environmental services, medical distribution, and logistics.
- Kinder Morgan — energy infrastructure (3.4 miles)
- General Mills — food production (10.0 miles)
- Waste Management — environmental services (18.5 miles)
- Mckesson Medical Surgical — medical distribution (19.1 miles)
- Ryder Vehicle Sales — logistics (20.7 miles)
This 36-unit 1973 asset offers a straightforward value-add angle in a neighborhood with above-median metro occupancy and a nationally strong standing for stabilized leasing. Elevated for-sale housing costs in the Inland Empire bolster renter dependence on multifamily, while a moderate rent-to-income profile supports retention and measured pricing power. According to CRE market data from WDSuite, the neighborhood s renter-occupied share is high versus national norms, underscoring depth in the tenant base.
Within a 3-mile radius, recent growth in households and a projected increase ahead expand the pool of prospective renters, even as average household sizes trend smaller. Safety indicators have improved year over year and remain competitive regionally, and regional employers provide diverse sources of demand. Investors should plan for capital improvements typical of 1970s construction to capture renovation upside and support long-term competitiveness.
- Occupancy in the top quartile nationally supports durable income and fewer lease gaps.
- High renter-occupied share indicates a deep tenant base and steady leasing velocity.
- Elevated ownership costs in the metro reinforce rental demand and retention potential.
- 1973 vintage provides clear value-add potential via interior and systems upgrades.
- Risk: limited immediate neighborhood amenities and older physical plant require thoughtful capex planning.