| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Poor |
| Demographics | 33rd | Poor |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 715 W Milling St, Lancaster, CA, 93534, US |
| Region / Metro | Lancaster |
| Year of Construction | 2011 |
| Units | 30 |
| Transaction Date | 2025-09-18 |
| Transaction Price | $10,625,000 |
| Buyer | EAH SAGEBRUSH LP |
| Seller | LEAN MEAN FIGHTING MACHINE LP |
715 W Milling St Lancaster Multifamily Investment
Neighborhood occupancy trends in the low-90% range point to steady renter demand, according to WDSuite’s CRE market data. The location offers day-to-day convenience that supports leasing durability for a 30‑unit asset.
The property sits in Lancaster’s inner-suburb fabric with strong daily-needs access. Amenity density scores competitively—restaurants and cafés rank among the highest concentrations nationally, and grocery and parks access are also strong—helping support livability and leasing velocity relative to many Los Angeles metro peers.
The average construction year in the neighborhood skews older (1950s era), while this asset was built in 2011. That newer vintage can provide a competitive edge versus older local stock and may temper near-term capital needs, though investors should underwrite typical system updates and common-area refreshes over the hold.
Renter-occupied housing is the dominant tenure locally, indicating a deep tenant base for multifamily. In investor terms, a high renter concentration supports demand depth and can reduce leasing friction in normal market conditions.
Within a 3‑mile radius, population and household counts have grown in recent years and are projected to continue expanding through 2028, enlarging the potential renter pool. As incomes in the 3‑mile area trend higher alongside rising asking rents, operators should balance pricing power with retention-focused renewals to sustain occupancy.
Home values are elevated relative to local incomes in the neighborhood, reflecting a high‑cost ownership market. This dynamic tends to keep more households in the rental market, which can support lease-up and renewal stability for well-maintained assets.
Safety indicators for the neighborhood trend below the metro average, ranking in the lower tier among 1,441 Los Angeles metro neighborhoods. Compared with neighborhoods nationwide, the area sits in lower national percentiles for safety.
Recent year-over-year shifts show declines in both violent and property offense estimates, which is a constructive trend. Investors should underwrite with conservative assumptions and highlight on-site management, lighting, and access controls to support resident comfort and retention.
Proximity to major employers supports a commuter tenant base, with defense, environmental services, medical devices, pharmaceutical distribution, and telecommunications represented nearby. These job centers can bolster leasing stability given manageable drive times.
- Lockheed Martin Aeronautics Co. — defense & aerospace (6.2 miles)
- Waste Management - Palmdale — environmental services (8.9 miles)
- Boston Scientific Neuromodulation — medical devices (30.1 miles)
- Amerisourcebergen — pharmaceutical distribution (30.2 miles)
- Charter Communications — telecommunications (36.2 miles)
Built in 2011, the asset is materially newer than much of the local housing stock, offering competitive positioning versus older properties while still warranting prudent capital planning for modernization over the hold. Neighborhood occupancy trends in the low‑90% range, according to CRE market data from WDSuite, indicate demand durability, supported by strong amenity access and a high concentration of renter-occupied units.
Within a 3‑mile radius, population and households have been growing and are projected to continue expanding through 2028, suggesting a larger tenant base that can support occupancy and measured rent growth. Elevated ownership costs locally reinforce reliance on rental housing, though rent-to-income levels point to some affordability pressure—making renewal strategy and resident services important for retention.
- 2011 construction offers competitive positioning versus older neighborhood stock
- Neighborhood occupancy around the low‑90% range supports stable cash flow potential
- 3‑mile population and household growth expand the renter pool
- Elevated ownership costs sustain rental demand relative to incomes
- Risks: below-metro safety standing and renter affordability require active management