| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Poor |
| Demographics | 12th | Poor |
| Amenities | 38th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 501 E Lancaster Blvd, Lancaster, CA, 93535, US |
| Region / Metro | Lancaster |
| Year of Construction | 1983 |
| Units | 60 |
| Transaction Date | 2005-12-01 |
| Transaction Price | $5,411,437 |
| Buyer | Melrose/Camerford Partners LLC |
| Seller | SLD Properties, Ltd. |
501 E Lancaster Blvd Lancaster Multifamily Investment
Strong renter concentration in the surrounding neighborhood supports a durable tenant base, with occupancy trending in the upper half nationally, according to WDSuite’s CRE market data. Positioning in Lancaster offers steady workforce proximity and relative affordability that can aid lease retention.
Neighborhood fundamentals and demand drivers
The neighborhood shows a high share of renter-occupied housing units (renter concentration), indicating depth in the tenant pool and support for multifamily demand. Neighborhood occupancy sits in the upper half of U.S. neighborhoods, pointing to generally stable leasing conditions rather than outsized volatility. The property’s 1983 vintage is newer than the neighborhood’s average construction year, which can provide a relative edge versus older stock; investors should still plan for typical system updates seen in 1980s assets.
Within a 3-mile radius, population and households have expanded in recent years, with forecasts calling for continued population growth and a larger household base by 2028. This supports renter pool expansion and can help sustain occupancy and absorption. Median contract rents in the 3-mile area have risen over the past five years, while the neighborhood’s rent-to-income ratio indicates manageable affordability pressure that can aid renewal and retention.
Amenity access is mixed. Parks score in the top decile nationally and grocery access is above average, while cafes and pharmacies are limited. Restaurant density is moderately above national norms. School options score well below national averages, which may shape leasing strategy toward renter cohorts less sensitive to school ratings.
Home values rank above national norms and the value-to-income ratio is high compared with most neighborhoods nationwide. For investors, this signals a high-cost ownership market that tends to reinforce reliance on rental housing and can support pricing power for well-positioned assets. These observations reflect commercial real estate analysis informed by WDSuite’s data for the Los Angeles metro.
Safety context
Safety indicators for the neighborhood track below national averages and are in the lower tier among 1,441 metro neighborhoods. However, recent trends show improvement, with both property and violent offense estimates down year over year, suggesting incremental progress. For underwriting, investors often account for enhanced lighting, access controls, and tenant screening to support retention and asset performance.
Nearby employers and commuter demand
Proximity to major aerospace, environmental services, medical device, and distribution employers supports a broad renter base and commute convenience for workforce housing. The following employers anchor demand within reasonable driving distance:
- Lockheed Martin Aeronautics Co. — defense & aerospace (6.0 miles)
- Waste Management - Palmdale — environmental services (9.1 miles)
- Boston Scientific Neuromodulation — medical devices (31.2 miles)
- AmerisourceBergen — pharmaceutical distribution (31.2 miles)
- Avery Dennison — materials & labeling (38.0 miles) — HQ
Investment thesis
501 E Lancaster Blvd offers 60 units averaging about 905 square feet, positioned in a neighborhood with renter-occupied concentration and occupancy in the upper half nationally. The 1983 vintage is newer than the area’s average construction year, which can help competitive positioning versus older stock while still calling for targeted capital planning and selective value-add to modernize interiors and systems.
Population and household growth within a 3-mile radius point to a larger renter pool ahead, supporting occupancy stability and absorption. According to CRE market data from WDSuite, the neighborhood’s rent-to-income levels suggest manageable affordability pressure, while elevated ownership costs relative to incomes reinforce reliance on rental housing and can support pricing power for well-located assets.
- Renter-occupied concentration and metro-level workforce access support durable demand
- 1983 vintage offers relative edge versus older stock with value-add potential
- Expanding 3-mile population and households bolster the future renter pool
- High-cost ownership context supports retention and potential pricing power
- Risks: below-average school ratings, safety considerations, and selective amenity gaps