| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Poor |
| Demographics | 24th | Poor |
| Amenities | 42nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 43650 Challenger Way, Lancaster, CA, 93535, US |
| Region / Metro | Lancaster |
| Year of Construction | 1983 |
| Units | 102 |
| Transaction Date | 2020-06-30 |
| Transaction Price | $54,350,000 |
| Buyer | VILLAGE POINTE COMMUNITY PARTNERS LP |
| Seller | YOUTUEMAN LP |
43650 Challenger Way, Lancaster CA Multifamily
Stabilizing renter demand and steady neighborhood occupancy support durable cash flow potential, according to WDSuite’s CRE market data. The asset’s submarket position offers pricing flexibility relative to the Los Angeles metro while drawing on Antelope Valley employment nodes.
Lancaster’s Inner Suburb setting offers day-to-day convenience from a mix of restaurants and pharmacies nearby, while neighborhood-level grocery and park options are thinner. Cafes and restaurants score competitively versus many Los Angeles-Long Beach-Glendale neighborhoods (both in the higher national percentiles), but limited parks and groceries locally mean some trips will occur by car.
Neighborhood occupancy is healthy and has edged higher in recent years, supporting income stability for multifamily operators. Within a 3-mile radius, renter-occupied housing forms a substantial share of units, translating into a meaningful tenant base and consistent leasing velocity. Median contract rents remain below core Los Angeles levels, which can help manage affordability pressure and support retention.
Schools in the neighborhood trail national norms (average ratings are in the lower national percentiles), so family-oriented leasing may hinge more on unit finishes, onsite amenities, and commute convenience than on school draw. Median home values are elevated for the Antelope Valley yet still below many coastal LA submarkets, reinforcing renter reliance on multifamily housing and aiding lease retention as households weigh total cost of ownership.
Demographics aggregated within a 3-mile radius point to population and household growth over the last five years, with forecasts indicating further gains. A larger local resident base and increasing incomes expand the renter pool, which can support occupancy stability and measured rent growth over time, based on CRE market data from WDSuite.
Safety trends in the immediate neighborhood sit around the middle of the Los Angeles metro pack, with conditions less favorable than top-quartile areas but comparable to many Inner Suburb peers among 1,441 metro neighborhoods. Relative to neighborhoods nationwide, overall safety benchmarks are below average; however, recent year-over-year readings show notable declines in both property and violent incident rates, indicating an improving trajectory.
Investors should underwrite to current neighborhood conditions while recognizing the recent downward trend in incident estimates. Positioning the asset with visible management presence, lighting, and access control can help support resident retention as broader area metrics continue to normalize.
The employment base blends aerospace, logistics, and medical technology, providing a steady workforce and commute convenience that supports renter demand. Nearby anchors include Lockheed Martin Aeronautics, Waste Management, AmerisourceBergen, Boston Scientific Neuromodulation, and Avery Dennison.
- Lockheed Martin Aeronautics Co. — aerospace (4.6 miles)
- Waste Management - Palmdale — environmental services (7.8 miles)
- AmerisourceBergen — pharmaceutical distribution (30.9 miles)
- Boston Scientific Neuromodulation — medical devices (30.9 miles)
- Avery Dennison — materials manufacturing (36.8 miles) — HQ
Built in 1983, the property is slightly older than the neighborhood average vintage. This creates a practical value-add path: targeted interior updates and system refreshes can elevate positioning against newer stock while maintaining a rent advantage. Neighborhood occupancy is solid and has trended up over five years, and within a 3-mile radius the sizable renter pool supports leasing stability. According to CRE market data from WDSuite, local rents remain comparatively accessible versus core Los Angeles, which can aid retention and steady absorption.
Forward-looking demographics within 3 miles indicate population and household growth alongside rising incomes, expanding the tenant base and supporting long-term demand. Investors should balance these strengths against softer school ratings, thinner park and grocery amenity depth in the immediate neighborhood, and the need to plan for capital expenditures typical of 1980s construction.
- Healthy neighborhood occupancy and an expanding 3-mile renter pool support cash flow stability
- 1983 vintage offers clear value-add and modernization upside versus newer submarket stock
- Relative rent positioning versus core LA aids retention and steady leasing, per WDSuite data
- Diverse employment base nearby (aerospace, logistics, medtech) underpins workforce housing demand
- Risks: below-average school ratings, limited neighborhood parks/groceries, and capex typical of 1980s construction