| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Good |
| Demographics | 37th | Fair |
| Amenities | 54th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2349 W Avenue J8, Lancaster, CA, 93536, US |
| Region / Metro | Lancaster |
| Year of Construction | 1985 |
| Units | 21 |
| Transaction Date | 2019-06-28 |
| Transaction Price | $2,600,000 |
| Buyer | GROUP XIII PROPERTIES LP |
| Seller | INFINITY HOME ONE LLC |
2349 W Avenue J8 Lancaster Multifamily Investment
This 21-unit property benefits from neighborhood-level occupancy rates above 97%, supported by stable rental demand in an inner suburban market according to CRE market data from WDSuite.
Located in Lancaster's inner suburban landscape, this neighborhood demonstrates solid fundamentals for multifamily investors. The area ranks in the top quartile nationally for occupancy rates at 97.4%, indicating strong tenant retention and consistent demand. Neighborhood-level median rents of $1,853 reflect competitive pricing within the broader Los Angeles metro, while the 33.3% share of renter-occupied housing units provides a substantial tenant base.
Demographics within a 3-mile radius show a population of approximately 77,500 with median household income of $76,487. Forecasted growth through 2028 projects an 11% increase in population and nearly 30% growth in total households, expanding the potential renter pool. The area maintains a balanced 50-50 split between owner and renter-occupied units, supporting sustained rental demand.
Built in 1985, this property aligns with the neighborhood's average construction year of 1977, suggesting opportunities for value-add improvements and modernization to capture rent premiums. The area offers practical amenities including grocery stores and pharmacies within reasonable proximity, though recreational amenities like parks and cafes are limited. School ratings average 1.0 out of 5, which may influence family tenant preferences but doesn't necessarily impact overall rental demand in this workforce housing market.
Safety metrics for this Lancaster neighborhood show mixed performance relative to regional standards. Property crime rates rank in the lower portion among Los Angeles metro neighborhoods, while violent crime trends have shown recent improvement with a 15% year-over-year decline. Investors should factor these conditions into tenant screening protocols and property management strategies, as safety perceptions can influence tenant retention and lease-up velocity in suburban markets.
The Lancaster area benefits from proximity to major aerospace and defense employers, providing workforce housing opportunities for a stable employment base.
- Lockheed Martin Aeronautics Co. — aerospace & defense (6.0 miles)
- Waste Management - Palmdale — waste services (8.1 miles)
- Boston Scientific Neuromodulation — medical technology (28.1 miles)
- Amerisourcebergen — pharmaceutical distribution (28.2 miles)
This 21-unit Lancaster property presents value-oriented multifamily investment opportunities supported by neighborhood fundamentals. The 1985 construction year positions the asset for potential value-add improvements while occupancy rates above 97% demonstrate market stability. Demographic projections show household growth of nearly 30% through 2028, expanding the renter pool in a market where rental housing represents one-third of all units.
The aerospace employment corridor anchored by Lockheed Martin provides workforce housing demand, while median household incomes of $76,487 support current rent levels. However, investors should consider the mixed safety profile and limited recreational amenities when evaluating long-term positioning and tenant preferences in this suburban market.
- Strong neighborhood occupancy at 97.4% indicates stable rental demand
- Projected 30% household growth through 2028 expands tenant base
- 1985 vintage offers value-add renovation opportunities
- Proximity to aerospace employers supports workforce housing demand
- Mixed safety metrics require careful tenant management strategies