| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Good |
| Demographics | 37th | Fair |
| Amenities | 54th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2301 W Avenue J8, Lancaster, CA, 93536, US |
| Region / Metro | Lancaster |
| Year of Construction | 1998 |
| Units | 77 |
| Transaction Date | 2015-06-09 |
| Transaction Price | $7,470,000 |
| Buyer | LANCASTER 637 LP |
| Seller | LANCASTER/REGENCY APARTMENTS LP |
2301 W Avenue J8 Lancaster Multifamily Investment
Stabilized renter demand and high neighborhood occupancy support consistent operations, according to WDSuite’s CRE market data. Newer vintage relative to local stock provides competitive positioning with manageable modernization needs.
The property sits in an Inner Suburb pocket of Lancaster within the Los Angeles-Long Beach-Glendale metro. Neighborhood occupancy is in the high-90s and ranks in the top quartile among 1,441 metro neighborhoods, signaling steady leasing conditions and lower downtime risk based on CRE market data from WDSuite. Typical contract rents in the immediate neighborhood trend in the upper-$1,800s with strong five-year growth, indicating durable renter demand rather than short-term volatility.
Local living fundamentals are mixed but serviceable for workforce tenants. Restaurants are comparatively dense (nationally high percentile), and everyday needs like groceries and pharmacies index above national norms, while parks and cafe density are limited. The average school rating tracks on the lower side nationally, which can influence family renter preferences; investors may prioritize amenity and service upgrades to support retention.
The building’s 1998 construction is newer than the neighborhood’s average vintage (1977). That relative youth typically reduces near-term structural CapEx versus older stock while still leaving room for targeted upgrades to kitchens, baths, and systems to enhance competitiveness.
Tenure dynamics are favorable for multifamily. At the neighborhood level, the renter-occupied share is meaningful, and within a 3-mile radius renters account for roughly half of occupied housing units. This suggests a broad tenant base and supports occupancy stability, particularly for well-managed assets.
Within a 3-mile radius, population and households have been growing and are projected to continue expanding over the next five years. This larger tenant base, coupled with rising household incomes in the area, supports absorption and renewal prospects without relying on outsized concessions.
Ownership costs in the neighborhood are elevated relative to incomes by national standards, with home values well above many U.S. areas. This high-cost ownership market tends to reinforce reliance on multifamily housing, aiding lease retention and pricing power when units are well-positioned.
Safety trends require balanced consideration. The neighborhood’s crime positioning is below the metro median (ranked in the lower half among 1,441 Los Angeles-Long Beach-Glendale neighborhoods) and compares below average nationally. However, violent incident rates have been trending down year over year, while property incidents show a modest recent uptick, according to WDSuite’s data. Investors should incorporate proactive security measures and lighting/visibility improvements into operating plans to support resident confidence.
Proximity to major employers underpins local renter demand and commute convenience, particularly for aerospace, environmental services, and medical technology workers. Notable employment nodes nearby include Lockheed Martin Aeronautics, Waste Management, and regional corporate offices across medical devices and distribution.
- Lockheed Martin Aeronautics Co. — aerospace & defense (6.1 miles)
- Waste Management - Palmdale — environmental services (8.2 miles)
- Boston Scientific Neuromodulation — medical devices (28.2 miles)
- Amerisourcebergen — pharmaceutical distribution (28.3 miles)
- Charter Communications — telecommunications (34.8 miles)
- Avery Dennison — materials & labeling (36.6 miles) — HQ
- Disney — entertainment (37.4 miles) — HQ
- Radio Disney — media (37.9 miles)
- Thermo Fisher Scientific — life sciences (41.1 miles)
- Live Nation Entertainment — entertainment (41.3 miles)
This 77-unit asset, built in 1998 with larger-than-typical average unit sizes, is positioned for durable performance given high neighborhood occupancy and a broad renter base. The submarket exhibits strong restaurant and daily-needs access with limited parks and cafes, suggesting value in on-site amenities. According to commercial real estate analysis from WDSuite, neighborhood occupancy trends sit above metro averages, supporting income stability for well-managed multifamily.
Within a 3-mile radius, recent population and household growth, alongside rising incomes and a renter share near half of occupied units, point to sustained demand and renewal potential. Newer vintage versus local stock reduces near-term structural CapEx, while selective interior and systems upgrades can capture value and defend rents against comparable properties.
- High neighborhood occupancy and steady renter demand support income durability
- 1998 construction offers competitive positioning with targeted value-add upside
- 3-mile radius shows expanding tenant base and rising incomes, aiding retention
- Elevated ownership costs favor multifamily reliance and pricing power
- Risk: safety metrics trail metro leaders; plan for visibility, access control, and lighting investments