Constructed in 1985, the 233,584-square-foot Waterstone Magnolia has a mix of one- and two-bedroom apartments spread across 15.15 acres in an urban infill setting. The apartment community is easily accessible from State Routes 91 and 60, as well as Interstate 15. In addition, residents can walk to nearby restaurants, the Galleria at Tyler Mall and Kaiser Permanente Riverside Medical Center.

According to a recent Apartment Research Market Update by Marcus & Millichap, “although the Inland Empire struggles with one of the weakest economies in California, the apartment market has maintained a steady path of improvement since its lowest point of the recession in 2009.” According to the report, “a confluence of pent-up demand and new household formation has reduced the vacancy rate to the 6% range. Over the last 12 months, over 10,000 new households were formed in the metro, while weakness in the housing market supported the construction of less than 4,400 single-family homes. Coupled with the addition of just 100 new apartment units for the year and current stringent lending criteria, rentals remain the only viable option for many residents.”

The report points out that as business and living costs increase in coastal counties, some companies will move to the Inland Empire, bringing employment opportunities to the region. For example, the report cites Living Spaces Furniture, which has leased more than 700,000 square feet in Rialto, CA, for a distribution center. “This increased migration to the region will help sustain renter demand,” says the report.