| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Poor |
| Demographics | 34th | Poor |
| Amenities | 61st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 44245 Kingtree Ave, Lancaster, CA, 93534, US |
| Region / Metro | Lancaster |
| Year of Construction | 1972 |
| Units | 30 |
| Transaction Date | 2008-12-19 |
| Transaction Price | $2,500,000 |
| Buyer | City of Lancaster |
| Seller | Antelope Valley InvestmentsFAR |
44245 Kingtree Ave Lancaster Multifamily Investment
This 30-unit property built in 1972 benefits from strong neighborhood-level occupancy at 97% and a high renter concentration that supports multifamily property research demand, according to CRE market data from WDSuite.
Lancaster's Kingtree Avenue corridor represents an inner suburban rental market with established fundamentals. The neighborhood maintains 97% occupancy rates, ranking in the top quartile nationally among 1,441 metro neighborhoods. With 77.5% of housing units occupied by renters—placing it in the 99th percentile nationally—the area demonstrates strong rental demand dynamics that support multifamily investment thesis.
Demographic data aggregated within a 3-mile radius shows a stable renter pool of approximately 84,500 residents, with forecasted population growth of 12.7% through 2028. Household income growth of 47% over five years indicates improving tenant quality, while the projected median household income of $104,656 by 2028 supports rent growth potential. The area's median contract rent of $1,391 reflects affordability relative to ownership costs, with home values averaging $306,164 creating a pricing dynamic that reinforces rental demand.
Built in 1972, this property aligns with the neighborhood's average construction vintage of 1976, indicating consistent building stock that may present value-add renovation opportunities. Local amenities support tenant retention with above-average access to childcare facilities (96th percentile nationally) and grocery stores, though limited park access suggests outdoor recreation options may require longer commutes. The area's C+ neighborhood rating reflects mixed fundamentals that warrant careful lease management and market positioning strategies.
Property crime rates in this Lancaster neighborhood reflect typical inner suburban patterns, with an estimated rate of 890 incidents per 100,000 residents ranking in the 25th percentile nationally among comparable neighborhoods. While property crime has increased 3.4% year-over-year, this trend aligns with broader regional patterns rather than localized concerns. Violent crime rates remain more moderate at 271 incidents per 100,000 residents, though recent increases of 63% warrant monitoring for tenant retention considerations.
The neighborhood's overall crime ranking places it in the middle tier among 1,441 Los Angeles metro neighborhoods, suggesting neither exceptional safety advantages nor significant deterrents to prospective renters. Investors should consider security measures and lighting improvements as part of tenant appeal strategies while monitoring local law enforcement initiatives that may influence future safety trends.
The Lancaster area benefits from proximity to aerospace and defense employment anchors, with Lockheed Martin's significant presence supporting workforce housing demand for technical professionals and support staff.
- Lockheed Martin Aeronautics Co. — defense & aerospace (5.7 miles)
- Waste Management - Palmdale — waste services (8.3 miles)
- Boston Scientific Neuromodulation — medical devices (29.3 miles)
- Amerisourcebergen — pharmaceutical distribution (29.4 miles)
This Lancaster multifamily asset presents a value-oriented investment opportunity supported by strong occupancy fundamentals and rental market dynamics. The neighborhood's 97% occupancy rate and 77.5% renter concentration create a stable tenant base, while demographic projections show population growth of 12.7% through 2028 expanding the potential renter pool. Commercial real estate analysis indicates household income growth of 47% over five years, supporting rent growth potential as tenant quality improves.
Built in 1972, the property offers potential value-add opportunities through strategic renovations that could capture upside from the area's improving demographics. The average NOI per unit of $7,103 ranks in the 58th percentile nationally, suggesting room for operational improvements. However, investors should carefully evaluate capital expenditure requirements and monitor recent increases in local crime rates that could influence tenant retention and lease renewal strategies.
- Strong occupancy at 97% with high renter concentration supporting demand
- Population growth of 12.7% projected through 2028 expanding tenant base
- Household income growth of 47% indicating improving tenant quality
- Value-add potential through renovations of 1972 vintage property
- Risk consideration: Recent increases in crime rates requiring active management