| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Poor |
| Demographics | 33rd | Poor |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 661 W Lancaster Blvd, Lancaster, CA, 93534, US |
| Region / Metro | Lancaster |
| Year of Construction | 2009 |
| Units | 21 |
| Transaction Date | 2025-09-18 |
| Transaction Price | $625,000 |
| Buyer | ARBOR LOFTS LP |
| Seller | NORTH DOWNTOWN RENUAL LP |
661 W Lancaster Blvd Lancaster Multifamily Investment
Renter demand is supported by an amenity-dense corridor and a neighborhood occupancy that has remained in a healthy range, according to WDSuite’s CRE market data. The investment angle centers on stable tenancy potential with room to manage affordability pressures through disciplined lease strategy.
Located on Lancaster Boulevard, the property benefits from an Inner Suburb setting that is competitive among Los Angeles-Long Beach-Glendale neighborhoods (ranked 503 out of 1,441, B+). Dense nearby amenities stand out: restaurants and cafes rank in the top national percentiles, with grocery, parks, pharmacies, and childcare also testing near the top of peer areas. This concentration supports daily convenience and strengthens leasing appeal for workforce households.
For investors screening multifamily property research, neighborhood occupancy is reported at 93.2% (neighborhood-level, not property-specific), indicating generally steady tenant absorption. The share of housing units that are renter-occupied is high, reinforcing depth in the tenant base and potential retention despite cycles; lease management remains important given rent-to-income considerations typical for the area.
Within a 3-mile radius, demographics indicate a growing renter pool: recent population and household gains have been positive, with forecasts pointing to further growth over the next five years. Rising household incomes alongside rent growth suggest pricing power may be achievable, though operators should calibrate renewal strategies to sustain occupancy stability and reduce turnover.
Ownership remains a high-cost option in the local context, which helps sustain reliance on rental housing and can support lease-up velocity. At the same time, the neighborhood’s vintage skew is older than the subject’s 2009 construction year, giving the asset a competitive edge versus legacy stock while noting that mid-life systems planning and selective modernization may still be prudent.
Safety metrics for the neighborhood indicate conditions that are below national averages, and the area ranks weaker relative to many Los Angeles metro neighborhoods (crime rank 1,117 out of 1,441). However, recent trend data shows year-over-year improvement, with estimated property and violent offense rates declining. For investors, this suggests monitoring continues to be warranted, but improving trajectory may support leasing and retention if the trend persists.
Proximity to major aerospace, environmental services, and medical technology employers supports workforce housing demand and commute convenience for renters. Nearby anchors include Lockheed Martin Aeronautics, Waste Management, Boston Scientific Neuromodulation, AmerisourceBergen, and Avery Dennison.
- Lockheed Martin Aeronautics Co. — aerospace & defense (6.3 miles)
- Waste Management - Palmdale — environmental services (9.1 miles)
- Boston Scientific Neuromodulation — medical devices (30.2 miles)
- Amerisourcebergen — pharmaceutical distribution (30.3 miles)
- Avery Dennison — materials & labeling (37.9 miles) — HQ
Constructed in 2009 with 21 units, the asset is newer than the area’s older housing stock, offering relative competitiveness versus legacy properties while calling for typical mid-life capital planning. Neighborhood data points to steady renter demand: occupancy at the neighborhood level is healthy, renter concentration is high, and amenity density along Lancaster Blvd bolsters day-to-day livability and leasing appeal. According to CRE market data from WDSuite, the area’s high-cost ownership context tends to reinforce reliance on multifamily housing, supporting tenant depth and potential pricing power.
Within a 3-mile radius, population and household counts have been rising and are projected to grow further, expanding the tenant base and supporting occupancy stability. Income growth has outpaced earlier periods, which can underpin rent growth, but operators should balance renewals and concessions to navigate rent-to-income pressures and maintain retention.
- 2009 vintage offers competitive positioning versus older neighborhood stock, with prudent mid-life systems planning
- High renter-occupied share and healthy neighborhood occupancy support leasing stability
- Amenity-rich Lancaster Blvd location enhances livability and retention for workforce tenants
- 3-mile population and household growth expands the tenant base, aiding absorption
- Risk: affordability pressure and below-average safety metrics require disciplined lease management and resident experience initiatives