| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Poor |
| Demographics | 33rd | Poor |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 707 W Milling St, Lancaster, CA, 93534, US |
| Region / Metro | Lancaster |
| Year of Construction | 2011 |
| Units | 40 |
| Transaction Date | 2025-09-18 |
| Transaction Price | $10,625,000 |
| Buyer | EAH SAGEBRUSH LP |
| Seller | LEAN MEAN FIGHTING MACHINE LP |
707 W Milling St Lancaster Multifamily Investment
This 40-unit property built in 2011 sits in a neighborhood with 84.7% renter-occupied housing units, ranking in the top 1% nationally for rental tenure concentration. According to CRE market data from WDSuite, the area maintains a 93.2% occupancy rate with strong amenity density supporting tenant retention.
This Lancaster neighborhood demonstrates strong rental market fundamentals, with 84.7% of housing units occupied by renters—ranking in the top 1% nationally among 1,441 metro neighborhoods. The area maintains a 93.2% occupancy rate, indicating stable demand despite modest 5-year population decline. Demographic data aggregated within a 3-mile radius shows a growing tenant base, with household counts increasing 7.5% over five years and projected to expand another 29% through 2028.
The property's 2011 construction year positions it as newer than the neighborhood average of 1953, potentially reducing near-term capital expenditure needs while offering competitive appeal to quality-conscious renters. Median contract rents of $929 provide affordability relative to the broader Los Angeles metro, with rent growth of 32.5% over five years suggesting pricing power within the tenant base's income range.
Amenity density supports tenant retention, with the neighborhood ranking in the 95th percentile nationally for overall amenities. Restaurant density of 41.82 per square mile ranks in the top 1% nationally, while childcare facilities rank 16th among metro neighborhoods. Grocery stores and pharmacies provide essential services within walking distance, contributing to the area's appeal for families and working professionals seeking convenient suburban living.
Home values averaging $343,868 with 75.7% five-year appreciation create elevated ownership costs that can sustain rental demand, particularly as median household incomes of $64,598 within the 3-mile radius support multifamily absorption. The rent-to-income dynamics suggest manageable affordability pressure while maintaining lease renewal potential.
Safety metrics show mixed trends requiring careful monitoring. Property crime rates of 2,168 per 100,000 residents place the neighborhood in the bottom 10th percentile nationally, though recent data indicates a 19.5% year-over-year decline in property offenses. Violent crime rates of 771 per 100,000 also rank in the lower 6th percentile nationally, with a 14.6% annual decrease showing improvement.
While current crime statistics rank below metro and national averages, the downward trend in both property and violent offenses suggests ongoing community investment and law enforcement attention. Investors should factor security considerations into property management strategies and tenant screening processes, while monitoring whether recent crime reductions continue over the longer term.
The area benefits from proximity to aerospace and defense employers, with Lockheed Martin's aeronautics division providing workforce housing demand within commuting distance.
- Lockheed Martin Aeronautics Co. — aerospace & defense (6.1 miles)
- Waste Management — environmental services (8.9 miles)
- Boston Scientific Neuromodulation — medical technology (30.1 miles)
- Amerisourcebergen — healthcare distribution (30.2 miles)
This 2011-vintage property operates in a neighborhood with exceptional rental market concentration, where 84.7% of housing units are renter-occupied—ranking in the top 1% nationally. The 93.2% neighborhood occupancy rate demonstrates demand stability, while demographic projections show household growth of 29% through 2028, expanding the potential tenant base. Commercial real estate analysis from WDSuite indicates strong amenity density supporting tenant retention, with restaurant and childcare options ranking in the top percentiles nationally.
The property's construction vintage positions it favorably against the neighborhood's 1953 average building age, potentially reducing capital expenditure needs while offering competitive appeal. Contract rents averaging $929 provide affordability within the growing income base, with 32.5% five-year rent growth indicating pricing power. However, investors should monitor safety metrics and factor security considerations into management strategies, as crime statistics currently rank below regional averages despite recent improvement trends.
- Top 1% national ranking for rental tenure concentration at 84.7%
- 29% projected household growth through 2028 expanding tenant base
- 2011 construction reduces near-term capital expenditure versus neighborhood average
- Strong amenity density supports tenant retention and lease renewals
- Safety metrics require monitoring despite recent crime reduction trends