| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Fair |
| Demographics | 32nd | Fair |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 532 Washington Blvd, Upland, CA, 91786, US |
| Region / Metro | Upland |
| Year of Construction | 1991 |
| Units | 20 |
| Transaction Date | 1999-09-15 |
| Transaction Price | $1,470,000 |
| Buyer | NAVARRO LUIS |
| Seller | CHAN HENRY |
532 Washington Blvd Upland 20-Unit Multifamily Opportunity
Neighborhood occupancy is strong and renter demand is supported by a high-cost ownership market, according to WDSuite’s CRE market data. Expect stable leasing fundamentals driven by a sizable renter concentration and daily-need amenities nearby.
The property sits in an A- rated Urban Core neighborhood that ranks 155 out of 997 within the Riverside–San Bernardino–Ontario metro, placing it in the top quartile locally for overall fundamentals. Daily conveniences are a clear strength: restaurants and cafes are dense by regional standards and test in the upper percentiles nationally, while groceries and pharmacies are readily accessible. Park access is limited within the immediate neighborhood, which may matter for some household segments.
For multifamily demand, the renter-occupied share is elevated at the neighborhood level, indicating a deeper tenant base and absorption potential. Neighborhood occupancy of roughly the mid‑90s percent suggests leasing stability above national medians, based on CRE market data from WDSuite. Median contract rents in the area have risen over the past five years, reinforcing pricing power, though thoughtful lease management remains important where rent-to-income levels vary across subsegments.
Within a 3‑mile radius, recent years show modest population growth alongside rising household incomes and a larger number of higher-earning households. Forward-looking data indicate smaller average household sizes and a projected increase in total households even if population trends soften, which can expand the renter pool and support occupancy. School ratings in the neighborhood score below national averages, a consideration for family-oriented renters, but proximity to jobs and conveniences tends to sustain demand for workforce and young professional housing.
Vintage matters: built in 1991, the asset is newer than much of the surrounding housing stock (which skews to the 1970s). This positioning can help competitiveness versus older properties, while still leaving room for targeted modernization or systems upgrades to drive rent premiums and reduce near-term capex surprises.
Ownership costs in this part of Upland are elevated relative to local incomes, placing the neighborhood in a high national percentile for value-to-income ratios. That dynamic typically sustains renter reliance on multifamily housing and can support lease retention, even as affordability pressures require disciplined renewal strategies.
Safety trends are comparatively favorable: the neighborhood sits in the top quartile nationally for safety based on crime percentiles, and both violent and property offense rates have trended down over the past year. While investors should underwrite property-level factors separately, the broader trajectory supports stable renter demand and retention.
Nearby employment is diversified across environmental services, logistics, food manufacturing, healthcare distribution, and energy infrastructure—sectors that help sustain a broad renter base and commute-friendly leasing.
- Waste Management — environmental services (6.9 miles)
- Ryder Vehicle Sales — transportation and logistics (7.4 miles)
- General Mills — food manufacturing (8.1 miles)
- Mckesson Medical Surgical — healthcare distribution (9.5 miles)
- Kinder Morgan — energy infrastructure (16.0 miles)
This 20‑unit, 1991‑vintage asset benefits from a renter‑oriented neighborhood with occupancy in the mid‑90s percent, above national medians. Elevated ownership costs in Upland underpin sustained multifamily demand, while dense daily‑need amenities support leasing velocity. According to CRE market data from WDSuite, the neighborhood’s safety profile sits in higher national percentiles and rental rates have trended upward, reinforcing a case for steady cash flow with disciplined underwriting.
Forward-looking dynamics within a 3‑mile radius point to smaller average household sizes and growth in total households even if population moderates—conditions that can expand the tenant base over time. As a relatively newer asset versus the area’s older stock, targeted renovations and systems updates offer potential to capture rent premiums and manage long‑term capex.
- Renter‑oriented neighborhood with above‑median occupancy supports leasing stability.
- Elevated ownership costs reinforce reliance on rentals, aiding retention and pricing power.
- 1991 vintage offers competitive positioning versus older stock, with value‑add potential via modernization.
- 3‑mile household trends (smaller sizes, more households) expand the renter pool over time.
- Risks: limited nearby park access, lower neighborhood school ratings, and the need to manage affordability pressures during renewals.