| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Poor |
| Demographics | 17th | Poor |
| Amenities | 59th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 38019 10th St E, Palmdale, CA, 93550, US |
| Region / Metro | Palmdale |
| Year of Construction | 1984 |
| Units | 44 |
| Transaction Date | 2016-12-12 |
| Transaction Price | $2,405,000 |
| Buyer | GROUP XIII PROPERTIES LP |
| Seller | PROUD AMERICAN INVESTMENTS LLC |
38019 10th St E, Palmdale Multifamily Investment
Stabilized renter demand in an Urban Core location with improving household incomes supports consistent leasing, according to WDSuite s CRE market data. The 1984 vintage offers operational runway with targeted upgrades to enhance competitiveness against older neighborhood stock.
This Urban Core neighborhood in Palmdale shows steady occupancy at the neighborhood level and a tenant base supported by everyday amenities. Neighborhood data indicate strong access to groceries and parks compared with many areas nationally, while cafes and pharmacies are thinner; these figures describe neighborhood conditions, not the property s operations.
Within a 3-mile radius, population has grown in recent years and households are projected to increase further even as average household size trends down. For investors, a rising household count points to a broader renter pool and supports occupancy stability for mid-sized assets like this 44-unit property.
Renter-occupied share within 3 miles is roughly half of housing units, signaling a meaningful depth of tenants for multifamily. Neighborhood home values are elevated for the region, which can sustain reliance on rentals and support pricing power for well-managed properties, while also requiring thoughtful lease management where affordability pressure is present.
The asset s 1984 construction is newer than the neighborhood s average vintage. That relative youth can be a competitive edge against older inventory, though investors should plan for selective modernization of interiors and building systems to capture value-add upside and extend useful life.
Safety indicators for the neighborhood sit below national averages, and the area ranks in the lower tier among 1,441 metro neighborhoods. Recent trends show a decline in estimated violent offenses year over year, placing the neighborhood above the metro median for improvement momentum, but overall conditions still warrant prudent security and site-management practices.
Investors should underwrite with conservative assumptions, emphasizing lighting, access control, and resident engagement, and benchmark performance against comparable Urban Core assets across the Los Angeles-Long Beach-Glendale metro.
Proximity to industrial and aerospace employment underpins workforce housing demand and commute convenience, led by Waste Management and Lockheed Martin nearby, with additional regional anchors in healthcare, medical devices, and branded manufacturing.
- Waste Management - Palmdale D waste & environmental services (2.1 miles)
- Lockheed Martin Aeronautics Co. D aerospace & defense (2.5 miles)
- AmerisourceBergen D pharmaceutical distribution (27.7 miles)
- Boston Scientific Neuromodulation D medical devices (28.1 miles)
- Avery Dennison D materials & labeling solutions (29.8 miles) D HQ
This 44-unit, 1984-vintage property benefits from a durable renter base and relative competitiveness versus older neighborhood stock. Neighborhood occupancy has remained stable, and within a 3-mile radius households have been growing with projections for further gains as average household size moderates D dynamics that typically broaden the tenant base and support leasing continuity. Elevated ownership costs in the area reinforce rental reliance, though higher rent-to-income levels suggest careful attention to renewal strategy and payment performance. Based on CRE market data from WDSuite, these neighborhood fundamentals align with a defensible, operations-focused hold supported by targeted renovations.
Amenity access favors daily-needs convenience (notably groceries and parks), while proximity to aerospace, industrial, and healthcare employers provides a steady pipeline of renters. The 1984 vintage offers clear value-add pathways (interior refresh, energy-efficient systems, curb appeal) to improve rent positioning without overextending capital plans.
- Stable neighborhood occupancy and expanding 3-mile household base support leasing continuity
- 1984 vintage creates value-add potential versus older local stock
- Elevated ownership costs sustain renter demand and help pricing power for well-managed units
- Employment access to aerospace and industrial nodes underpins workforce renter demand
- Risks: affordability pressure and below-average safety metrics require disciplined screening, security, and collections management