| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Poor |
| Demographics | 17th | Poor |
| Amenities | 59th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 38035 11th St E, Palmdale, CA, 93550, US |
| Region / Metro | Palmdale |
| Year of Construction | 1979 |
| Units | 22 |
| Transaction Date | 2017-12-08 |
| Transaction Price | $1,850,000 |
| Buyer | RODRIGUEZ GABRIEL |
| Seller | SNOW GILBERT H |
38035 11th St E Palmdale Multifamily Investment
Renter demand is supported by a high neighborhood renter concentration and proximity to major employers, according to WDSuite’s CRE market data. Expect stable tenant depth with scope to modernize a late-1970s asset for competitive positioning.
Positioned in Palmdale’s Urban Core, the property benefits from a neighborhood that is above the metro median for overall amenities among 1,441 Los Angeles-Long Beach-Glendale neighborhoods, with particularly strong access to grocery options and parks (both strong performers nationally). Restaurant density is competitive, though cafes and pharmacies are limited nearby, which may modestly affect convenience for some residents.
The asset’s 1979 vintage is slightly newer than the neighborhood average construction year of 1970. For investors, this can offer relative competitiveness versus older stock while still warranting capital planning for aging systems and value-add common-area or unit updates that can support leasing and retention.
Neighborhood occupancy trends sit in the low-90s and have improved over the past five years, a backdrop that supports income stability. The share of housing units that are renter-occupied is very high by metro and national comparison (top-tier ranking), indicating a deep tenant base for multifamily owners rather than a focus on for-sale turnover.
Within a 3-mile radius, population and households expanded in recent years, and forecasts point to smaller average household sizes alongside a notable increase in household count over the next five years. This shift implies a larger renter pool and demand for professionally managed units, which supports occupancy and leasing velocity. Median home values are elevated for local incomes by national comparison, reinforcing reliance on multifamily rentals; at the same time, rent-to-income levels indicate affordability pressure that calls for disciplined lease management and renewal strategies informed by commercial real estate analysis.
Safety outcomes in the immediate neighborhood trail national averages, and the area ranks below the metro median (1,441 Los Angeles-Long Beach-Glendale neighborhoods). Even so, recent trends show improvement in violent offense rates year over year, while property offenses ticked up slightly. For investors, this suggests monitoring submarket-level trends and emphasizing on-site lighting, access control, and resident engagement to support retention.
Nearby employment spans environmental services, aerospace, healthcare distribution, medical devices, and telecom, supporting a diverse renter base and commute-friendly housing demand for workforce tenants.
- Waste Management - Palmdale — environmental services (2.3 miles)
- Lockheed Martin Aeronautics Co. — aerospace (2.5 miles)
- AmerisourceBergen — pharmaceutical distribution (27.8 miles)
- Boston Scientific Neuromodulation — medical devices (28.2 miles)
- Charter Communications — telecommunications (29.1 miles)
This 22-unit, 1979-vintage asset aligns with a neighborhood that demonstrates a very high renter concentration, steady low-90s neighborhood occupancy, and access to a diverse employment base. The vintage offers an avenue for targeted renovations to improve competitive positioning versus older nearby stock while leveraging stable tenant depth. Elevated ownership costs relative to incomes bolster reliance on rentals, though renters’ budgets warrant thoughtful pricing and renewal strategies.
According to CRE market data from WDSuite, local amenity access is above the metro median with particular strength in groceries and parks, supporting livability and retention. Forward-looking 3-mile demographics indicate rising household counts and smaller household sizes, which can expand the renter pool and support occupancy and leasing performance, provided operators proactively manage affordability and resident experience.
- High renter concentration and workforce demand support consistent leasing
- 1979 vintage offers value-add potential to enhance rents and retention
- Above-median neighborhood amenities (groceries, parks) aid livability
- Diverse nearby employers (aerospace, healthcare, telecom) underpin tenant base
- Risks: affordability pressure and safety perception require careful pricing, operations, and on-site measures