| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Poor |
| Demographics | 27th | Poor |
| Amenities | 34th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 43526 Kirkland Ave, Lancaster, CA, 93535, US |
| Region / Metro | Lancaster |
| Year of Construction | 1985 |
| Units | 82 |
| Transaction Date | 2020-12-04 |
| Transaction Price | $61,440,000 |
| Buyer | AG SIENNA HEIGHTS OWNER LP |
| Seller | BRE MG SIENNA HEIGHTS LLC |
43526 Kirkland Ave Lancaster Multifamily Investment
Neighborhood occupancy is elevated and has trended upward, supporting stable cash flow potential according to WDSuite's CRE market data. The area's renter demand is reinforced by a high-cost ownership market, while rent levels remain manageable relative to incomes.
Situated in Lancaster's inner-suburban fabric of Los Angeles County, the property benefits from an area where neighborhood occupancy ranks in the top quartile among 1,441 metro neighborhoods and sits well above many U.S. locations (high national percentile). For investors, this suggests a deeper tenant base and lower downtime risk at the neighborhood level rather than at the property itself.
Renter-occupied housing makes up a substantial share of neighborhood units, indicating a meaningful pool of prospective tenants for an 82-unit asset. Within a 3-mile radius, population and household counts have grown over the past five years and are projected to continue rising, pointing to ongoing renter pool expansion that can support occupancy stability and steady leasing.
Local retail and daily-needs access are serviceable, with grocery and restaurant availability competitive versus many neighborhoods nationally, though cafes, parks, and pharmacies are limited nearby. School ratings in the immediate neighborhood are limited, so underwriting should focus on value, unit livability, and commute access rather than top-tier school-driven premiums.
Home values in the neighborhood are elevated relative to incomes (high national percentile for value-to-income), which generally sustains renter reliance on multifamily housing and can aid retention. Median contract rents in the neighborhood sit above the U.S. median (high national percentile), yet rent-to-income measures suggest room for disciplined pricing power without overextending affordability; investors should still manage renewals thoughtfully to mitigate retention risk.
Neighborhood safety indicators are below the national median, and the area ranks below the metro median among 1,441 Los Angeles–Long Beach–Glendale neighborhoods. Recent year estimates show modest declines in both violent and property offense rates, indicating incremental improvement, but underwriting should account for a more variable safety profile versus higher-ranked suburban submarkets.
Investors may consider measures that enhance on-site security and resident experience, as these can support retention and reduce non-economic vacancy in locations where broader neighborhood safety trends lag stronger-performing areas.
The employment base blends aerospace, waste services, and major corporate headquarters within commuting distance, supporting workforce housing demand and resident retention. Key nearby employers include Lockheed Martin Aeronautics, Waste Management, Avery Dennison, Disney, and Live Nation Entertainment.
- Lockheed Martin Aeronautics Co. — aerospace & defense (4.5 miles)
- Waste Management - Palmdale — environmental services (7.5 miles)
- Avery Dennison — materials & labeling (36.4 miles) — HQ
- Disney — media & entertainment (37.5 miles) — HQ
- Live Nation Entertainment — live events & entertainment (41.4 miles)
Built in 1985, this 82-unit asset offers potential value-add and modernization upside typical of mid-'80s product, while larger average unit sizes can support family-oriented demand and lease retention. At the neighborhood level, occupancy performance is strong and competitive within the Los Angeles metro, and elevated for the nation, indicating depth of tenant demand rather than property-specific performance. According to CRE market data from WDSuite, the surrounding area shows elevated home values relative to incomes, which tends to sustain reliance on rentals and support steady absorption.
Within a 3-mile radius, recent and forecast increases in population and households point to a growing renter base, while neighborhood rent levels and rent-to-income positioning suggest measured pricing power if managed with renewal discipline. Key risks include a below-median safety profile and thinner amenity density in parts of the neighborhood; operators may need to emphasize on-site services, unit quality, and security to maintain leasing velocity.
- 1985 vintage with value-add and capital planning opportunities to modernize systems and interiors
- Neighborhood occupancy ranks competitive within the Los Angeles metro and elevated nationally, supporting leasing stability
- Elevated home values versus incomes reinforce renter reliance, aiding retention and absorption
- 3-mile population and household growth expand the tenant base, supporting steady demand
- Risks: below-median safety and limited nearby amenities may require enhanced on-site experience and security focus