| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Poor |
| Demographics | 17th | Poor |
| Amenities | 59th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 38101 11th St E, Palmdale, CA, 93550, US |
| Region / Metro | Palmdale |
| Year of Construction | 1983 |
| Units | 36 |
| Transaction Date | 2006-01-27 |
| Transaction Price | $2,800,000 |
| Buyer | Mark R. Goldberg |
| Seller | Edgar Reinoso |
38101 11th St E Palmdale Multifamily Investment
Positioned for workforce renter demand with proximity to major employers and a renter-leaning housing base within 3 miles, this 36-unit asset offers value-add upside from its 1983 vintage. Neighborhood occupancy trends appear steady according to CRE market data from WDSuite, supporting income durability with prudent lease management.
The property sits in Palmdale within the Los Angeles metro, where neighborhood fundamentals are mixed but serviceable for workforce housing. Grocery and park access rank in the upper tiers nationally (both in the 90th-percentile range), while cafes and pharmacies are comparatively sparse. For investors, this amenity mix favors daily-needs convenience over lifestyle retail, which can support lease retention even if dining and coffee options are thinner.
Relative to other Los Angeles–Long Beach–Glendale neighborhoods, this area is below the metro median (ranked 1241 out of 1441), indicating more value-oriented positioning rather than premium rent potential. Occupancy for the neighborhood trends near the national middle of the pack, with modest improvement over the last five years, per WDSuite. Median contract rents in the neighborhood have risen meaningfully over the past cycle, signaling pricing power when units are well-maintained and appropriately finished.
The asset’s 1983 construction is newer than the local average vintage (1970). That positioning can be competitive versus older stock, though investors should underwrite aging systems and targeted renovations to capture value-add rent steps and improve durability of operations.
Demographic statistics are aggregated within a 3-mile radius: population and households have grown in recent years, and forecasts point to a larger household count alongside smaller average household sizes. This dynamic can expand the renter pool and support occupancy stability. The area shows a slightly renter-tilted tenure split, which deepens the multifamily tenant base. Elevated ownership costs in the broader region tend to reinforce reliance on rental housing, supporting demand even as affordability management remains important for retention.
Safety metrics for the neighborhood are weaker than national norms, and performance sits below the metro median among 1,441 Los Angeles-area neighborhoods. However, WDSuite data indicates a recent year-over-year decline in violent incidents, suggesting improvement momentum even as property crime remains a monitoring point. Investors should plan for standard lighting, access control, and community engagement measures to support resident confidence and leasing stability.
Nearby employers anchor a diverse workforce, supporting renter demand via short commutes and steady job nodes. Notable employment centers include environmental services, aerospace & defense, healthcare distribution, materials manufacturing, and entertainment.
- Waste Management - Palmdale — environmental services (2.3 miles)
- Lockheed Martin Aeronautics Co. — aerospace & defense (2.5 miles)
- AmerisourceBergen — healthcare distribution (27.9 miles)
- Avery Dennison — materials & labeling (30.0 miles) — HQ
- Disney — entertainment (31.3 miles) — HQ
This 36-unit property offers a practical value-add thesis in a renter-driven pocket of Palmdale. The 1983 vintage provides an opportunity to modernize interiors and address aging systems to lift rents toward neighborhood leaders while maintaining workforce positioning. According to CRE market data from WDSuite, neighborhood occupancy trends track near national mid-range levels with modest recent improvement, and daily-needs amenities (groceries, parks) are strong relative to many U.S. neighborhoods—favorable for retention.
Within a 3-mile radius, recent gains in households alongside smaller projected household sizes point to a broader tenant base over time. Proximity to aerospace, environmental services, and regional corporate offices supports leasing depth. Key underwriting items include affordability pressure management and heightened attention to security given below-average safety metrics.
- Value-add upside from 1983 construction via targeted renovations and system updates
- Occupancy near national mid-range with recent improvement, per WDSuite
- Strong daily-needs access (groceries, parks) that supports lease retention
- Diverse employment base nearby (aerospace, environmental services, corporate offices) sustains renter demand
- Risks: affordability pressures and below-average safety warrant proactive leasing and security strategies