| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Poor |
| Demographics | 33rd | Poor |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 45151 Fern Ave, Lancaster, CA, 93534, US |
| Region / Metro | Lancaster |
| Year of Construction | 1979 |
| Units | 76 |
| Transaction Date | 2013-12-20 |
| Transaction Price | $5,796,057 |
| Buyer | RELIANT SAN GABRIEL LP |
| Seller | FERNWOOD APARTMENTS LLC |
45151 Fern Ave Lancaster Multifamily Investment
This 76-unit property benefits from Lancaster's 84.7% renter-occupied housing concentration, among the highest in the Los Angeles metro. Neighborhood-level occupancy rates of 93.2% indicate stable tenant demand, according to WDSuite's CRE market data.
Lancaster's Inner Suburb designation reflects a mature rental market with strong fundamentals for multifamily investors. The neighborhood ranks in the top quartile among 1,441 Los Angeles metro neighborhoods for renter concentration at 84.7% of housing units, indicating deep rental demand. Neighborhood-level occupancy rates of 93.2% demonstrate stable tenant retention, while median contract rents of $929 provide affordability relative to broader Los Angeles markets.
The property's 1979 construction year aligns with the area's building stock, suggesting consistent maintenance expectations and potential value-add opportunities through targeted renovations. Within a 3-mile radius, demographic data shows population growth of 9% over five years, with household formation increasing 7.6%, expanding the potential tenant base. Forecast data projects continued household growth of 29% through 2028, supporting long-term rental demand.
Local amenities support tenant appeal and retention, with the neighborhood ranking in the 99th percentile nationally for restaurant density and 98th percentile for cafe access. Childcare facilities rank in the 100th percentile nationally, appealing to the area's family demographics. The neighborhood's elevated home value-to-income ratio of 11.0 ranks in the 98th percentile nationally, reinforcing reliance on rental housing as ownership remains less accessible for many households.
Safety metrics present mixed signals for Lancaster's rental market. The neighborhood ranks 1,117th out of 1,441 Los Angeles metro neighborhoods for overall crime, placing it in the 36th percentile nationally. Property crime rates are elevated, ranking in the 10th percentile compared to neighborhoods nationwide, though recent trends show improvement with property offense rates declining 19.5% year-over-year.
Violent crime rates rank in the 6th percentile nationally, indicating higher levels compared to most U.S. neighborhoods, though these rates have also decreased 14.6% over the past year. Investors should consider these safety dynamics when evaluating tenant demographics, lease management strategies, and property insurance requirements.
Lancaster's employment base centers on aerospace and defense industries, supporting stable workforce housing demand through proximity to major corporate facilities.
- Lockheed Martin Aeronautics Co. — aerospace & defense (6.6 miles)
- Waste Management - Palmdale — waste services (9.3 miles)
- Boston Scientific Neuromodulation — medical technology (30.2 miles)
- Amerisourcebergen — pharmaceutical distribution (30.3 miles)
This Lancaster multifamily property offers investors exposure to a high-concentration rental market with demonstrated occupancy stability. The neighborhood's 84.7% renter-occupied share ranks among the strongest in the Los Angeles metro, while 93.2% occupancy rates indicate consistent tenant demand. Demographic projections within a 3-mile radius show household growth of 29% through 2028, supported by continued population expansion and income growth.
The 1979 vintage presents value-add potential through strategic renovations, while elevated home ownership costs sustain rental demand as ownership remains challenging for many area households. Commercial real estate analysis reveals neighborhood rent levels that balance affordability with investor returns, though safety considerations require careful tenant screening and property management approaches.
- High renter concentration at 84.7% supports deep tenant demand
- Stable 93.2% neighborhood occupancy rates indicate retention strength
- Projected 29% household growth through 2028 expands tenant base
- 1979 construction offers value-add renovation opportunities
- Safety metrics require enhanced tenant screening and management protocols