| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Poor |
| Demographics | 24th | Poor |
| Amenities | 42nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 43732 Challenger Way, Lancaster, CA, 93535, US |
| Region / Metro | Lancaster |
| Year of Construction | 1987 |
| Units | 48 |
| Transaction Date | 1994-12-31 |
| Transaction Price | $1,310,000 |
| Buyer | VILLAGE POINTE COMMUNITY PARTNERS LP |
| Seller | YOUTUEMAN LP |
43732 Challenger Way Lancaster Multifamily Investment
This 48-unit property built in 1987 serves Lancaster's growing renter base in a neighborhood showing 93% occupancy rates. CRE market data from WDSuite indicates stable rental demand with median household incomes reaching $79,108.
This Lancaster neighborhood demonstrates solid rental fundamentals with 93% occupancy rates and a growing demographic base. Within a 3-mile radius, the area serves over 82,000 residents with household incomes averaging $75,071, supporting consistent rental demand for workforce housing. The neighborhood ranks in the 54th percentile nationally for household income, indicating balanced affordability for multifamily tenants.
The property's 1987 construction year aligns closely with the neighborhood average of 1989, positioning it among established housing stock that may benefit from value-add renovations or capital improvements. With 30.6% of housing units occupied by renters, the area maintains steady rental demand while offering room for market expansion. Median contract rents of $1,393 reflect competitive pricing within the Los Angeles metro submarket.
Demographic projections through 2028 show continued population growth of 12.8% and household formation increasing by 30.8% within the 3-mile radius. This expansion translates to a larger potential tenant base and supports occupancy stability for well-positioned properties. The area's proximity to aerospace employment centers provides additional workforce housing demand drivers for long-term investment planning.
The neighborhood's safety profile shows mixed indicators that require careful evaluation for investment planning. Property crime rates rank 1,041st among 1,441 Los Angeles metro neighborhoods, placing it in the lower half of the region. However, recent trends show improvement with property crime declining 20.7% year-over-year, ranking in the 64th percentile nationally for crime reduction.
Violent crime rates present a more concerning picture, with incidents ranking 1,216th among metro neighborhoods, though this metric has also improved significantly with a 33% decline over the past year. Investors should factor these safety considerations into tenant retention strategies and property management protocols while monitoring ongoing improvement trends in the area.
The Lancaster area benefits from proximity to major aerospace and corporate employers that support workforce housing demand and tenant stability.
- Lockheed Martin Aeronautics Co. — defense & aerospace (4.7 miles)
- Waste Management - Palmdale — waste services (7.9 miles)
- Amerisourcebergen — pharmaceutical distribution (30.9 miles)
- Boston Scientific Neuromodulation — medical devices (31.0 miles)
- Charter Communications — telecommunications (35.5 miles)
This 48-unit Lancaster property presents a value-add opportunity in a stabilizing rental market with improving fundamentals. The 1987 construction year positions the asset for strategic capital improvements while benefiting from established neighborhood infrastructure. According to commercial real estate analysis, the area's 93% occupancy rate exceeds many comparable markets, supported by growing household formation and aerospace employment proximity.
Demographic growth projections through 2028 indicate 12.8% population expansion and 30.8% household increase within the 3-mile radius, creating a larger tenant pool for sustained occupancy. The neighborhood's median household income of $79,108 supports rent stability, while declining crime rates suggest improving conditions for long-term appreciation potential.
- Strong occupancy fundamentals with 93% neighborhood rates supporting cash flow stability
- Value-add potential from 1987 vintage allowing strategic property improvements
- Growing demographic base with 30.8% projected household increase through 2028
- Proximity to Lockheed Martin and aerospace employers supporting workforce housing demand
- Risk consideration: Safety metrics require ongoing monitoring despite recent crime reduction trends