| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Poor |
| Demographics | 5th | Poor |
| Amenities | 46th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1320 E Avenue Q, Palmdale, CA, 93550, US |
| Region / Metro | Palmdale |
| Year of Construction | 1988 |
| Units | 24 |
| Transaction Date | 1999-02-13 |
| Transaction Price | $515,000 |
| Buyer | H K REALTY INC |
| Seller | K R EQUITIES INC |
1320 E Avenue Q Palmdale 24-Unit Multifamily Asset
Neighborhood occupancy trends remain firm with a sizable renter base, according to WDSuite’s CRE market data, suggesting durable demand for a 24-unit property at this address. The area’s renter concentration and steady leasing backdrop point to income stability with prudent asset management.
Located in Palmdale’s inner-suburban fabric of the Los Angeles metro, the property sits in a neighborhood rated D and ranked 1,368 out of 1,441 metro neighborhoods. Despite a lower overall neighborhood rank, leasing fundamentals are comparatively solid: the neighborhood occupancy rate is strong (79th percentile nationally), and renter-occupied housing accounts for a higher share than most areas in the U.S., indicating depth in the tenant base. Based on CRE market data from WDSuite, this backdrop supports consistent leasing for workforce-oriented product.
Livability is mixed. Grocery and restaurant access track in the 96th percentile nationally, while parks, pharmacies, and cafes are sparse. For investors, this combination often favors day‑to‑day convenience but limits lifestyle amenities, which may influence positioning and marketing. Average school ratings in the neighborhood data are weak; operators should calibrate leasing narratives accordingly and prioritize on-site features that resonate with family renters.
The property’s 1988 vintage is slightly newer than the neighborhood’s average construction year (1982). That relative youth can help competitiveness versus older stock, though investors should still plan for system updates and common‑area refreshes typical for late‑1980s buildings to support retention and modest rent premiums.
Within a 3‑mile radius, population and households expanded over the past five years, with households projected to continue increasing through the forecast period even as population edges down slightly—implying smaller household sizes and a broader pool of renting households. Median contract rents and incomes have both risen within this radius, and a renter share above 50% points to ongoing multifamily demand that can support occupancy stability. In a high‑cost ownership context for the neighborhood (value‑to‑income ranks in the top decile nationally), elevated ownership costs tend to sustain reliance on rental housing, bolstering tenant retention and leasing velocity for well‑managed assets.
Safety metrics are mixed relative to peers. The neighborhood’s crime rank sits below the metro median (928 out of 1,441 metro neighborhoods), and overall safety levels compare around the middle nationally (45th percentile). However, recent momentum has improved: estimated property offenses declined sharply year over year, a trend that places the neighborhood’s improvement in the upper tiers nationally, and estimated violent offenses also moved lower with above‑average improvement. Investors should underwrite with conservative assumptions, monitor trends, and emphasize visible on‑site management and lighting to support resident confidence.
Proximity to major employers supports a steady renter pipeline, anchored by aerospace and diversified corporate offices that broaden the workforce housing base. Nearby employers include Lockheed Martin Aeronautics, Waste Management, AmerisourceBergen, Charter Communications, and Avery Dennison.
- Lockheed Martin Aeronautics Co. — aerospace & defense (1.7 miles)
- Waste Management - Palmdale — environmental services (2.9 miles)
- AmerisourceBergen — pharmaceutical distribution (28.4 miles)
- Charter Communications — telecommunications (30.0 miles)
- Avery Dennison — materials & packaging (30.9 miles) — HQ
This 24‑unit asset benefits from a renter‑heavy neighborhood with above‑average occupancy, supported by a broad blue‑collar and aerospace workforce. According to commercial real estate analysis from WDSuite, grocery and dining access is strong even as lifestyle amenities are thinner, suggesting positioning around practical convenience and value. The 1988 vintage is modestly newer than local stock, offering competitive footing while leaving room for targeted renovations to drive retention and incremental rent.
Within a 3‑mile radius, households have grown and are projected to continue expanding even as population levels level off—indicating smaller household sizes and a larger renter pool. Elevated ownership costs relative to incomes in the neighborhood context reinforce reliance on multifamily housing, which can support occupancy stability. Key underwriting considerations include renter affordability pressure and measured safety performance; disciplined expense control and resident‑focused operations remain important to sustain cash flow.
- Renter‑concentrated area with strong neighborhood occupancy supports stable leasing
- 1988 vintage offers competitive positioning with value‑add potential via selective upgrades
- Diverse employer base nearby (aerospace, utilities, telecom, manufacturing) underpins demand
- Elevated ownership costs relative to incomes reinforce multifamily demand and retention
- Risks: renter affordability pressure and mixed safety metrics warrant conservative underwriting