| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Poor |
| Demographics | 25th | Poor |
| Amenities | 20th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1240 E Avenue S, Palmdale, CA, 93550, US |
| Region / Metro | Palmdale |
| Year of Construction | 1974 |
| Units | 100 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1240 E Avenue S, Palmdale CA Multifamily Investment
Neighborhood occupancy near the mid-90% range and a sizable renter-occupied share point to a durable tenant base, according to WDSuite’s CRE market data, supporting steady operations with disciplined lease management.
Located in Palmdale’s inner-suburban fabric of Los Angeles County, the property sits in a renter-heavy neighborhood where roughly half of housing units are renter-occupied. For multifamily investors, that renter concentration supports depth of demand and day-to-day leasing velocity, while the neighborhood’s occupancy rate (95.1%) is around the metro average and in the upper tier nationally, based on WDSuite’s commercial real estate analysis.
Local amenity density inside the neighborhood is thin (few cafes, groceries, or pharmacies recorded), which can require residents to drive to nearby corridors for daily needs. A relative bright spot is park access, which trends above the national median, helping overall livability. These dynamics suggest resident convenience hinges more on regional connectivity than on walkable retail.
Ownership costs in the area are elevated relative to incomes, and home values trend high versus many U.S. neighborhoods. In practice, a high-cost ownership market often sustains multifamily demand by keeping more households in the renter pool longer, supporting occupancy stability and renewal capture for well-managed assets.
Within a 3-mile radius, recent population growth has been positive and household counts have increased, with forecasts indicating smaller average household sizes alongside further gains in total households. For investors, a larger count of households—even if population growth moderates—generally expands the tenant base and supports leasing consistency.
Vintage matters: the asset’s 1974 construction is newer than much of the local housing stock (which skews mid-century). That positioning can be competitive versus older product, though investors should still plan for targeted system upgrades and common-area refreshes to meet current renter expectations.
Safety indicators for the neighborhood track below both metro and national medians. The area ranks toward the lower end among 1,441 Los Angeles metro neighborhoods and sits in the lower national percentiles, signaling that professional management practices and property-level controls are particularly important for resident retention and operational stability.
Recent trend data show estimated property offenses increasing modestly year over year, with violent offense estimates also rising. While these are neighborhood-level readings (not property-specific), investors should underwrite for enhanced lighting, access control, and responsive on-site management, and consider partnership with local community programs to help mitigate risk.
Nearby employment nodes combine industrial services, aerospace/defense, and healthcare-related corporate offices, supporting a diverse renter base and commute-friendly demand for workforce housing. The list below reflects the closest anchors likely to influence leasing and retention at this location.
- Waste Management - Palmdale — waste & environmental services (2.6 miles)
- Lockheed Martin Aeronautics Co. — defense & aerospace (3.7 miles)
- AmerisourceBergen — pharmaceutical distribution (27.8 miles)
- Boston Scientific Neuromodulation — medical devices (28.2 miles)
- Avery Dennison — materials & labeling (28.9 miles) — HQ
This 100-unit asset at 1240 E Avenue S benefits from a renter-heavy submarket and neighborhood occupancy around 95%, supporting day-to-day leasing stability. According to CRE market data from WDSuite, the surrounding area exhibits elevated ownership costs relative to incomes, which tends to reinforce reliance on multifamily housing and can aid renewal capture for well-run communities. The 1974 vintage is positioned younger than much of the area’s mid-century stock, offering a competitive edge versus older product while still allowing for targeted value-add through interior updates and system modernization.
Within a 3-mile radius, recent population growth and an increase in total households point to a larger tenant base, with projections indicating more households even as average household size edges down—often supportive of multifamily absorption. Amenity density inside the immediate neighborhood is limited and safety metrics lag the metro, so underwriting should account for property-level improvements and resident experience programming to maintain retention.
- Renter concentration and neighborhood occupancy near 95% support stable leasing fundamentals.
- Elevated ownership costs sustain renter reliance, aiding pricing power and renewals.
- 1974 construction offers value-add potential via selective renovations and system upgrades.
- 3-mile household growth and smaller household sizes expand the tenant base over time.
- Risks: thinner local amenities and below-median safety require proactive management and capex planning.