| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Poor |
| Demographics | 17th | Poor |
| Amenities | 59th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 38235 10th St E, Palmdale, CA, 93550, US |
| Region / Metro | Palmdale |
| Year of Construction | 2009 |
| Units | 78 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
38235 10th St E Palmdale Multifamily Opportunity
Neighborhood occupancy has held in the low 90s, according to WDSuite’s CRE market data, supporting steady renter demand in an Urban Core setting with a deep renter base. Built in 2009, the asset offers relatively modern positioning versus older local stock.
This Urban Core location in Palmdale benefits from daily-needs convenience and open space access that support renter retention. Neighborhood access to grocery options and parks ranks in the top quartile nationally, indicating residents can meet essentials and recreation needs without long trips. Restaurant density also outperforms many areas nationwide, while cafes and pharmacies are limited, a dynamic investors should consider for tenant lifestyle expectations.
Based on CRE market data from WDSuite, neighborhood occupancy is around the national median and has trended upward over the past five years, which is consistent with stable leasing conditions. The share of housing units that are renter-occupied is among the highest nationwide, signaling a deep tenant pool and sustained demand for multifamily units rather than ownership alternatives.
Within a 3-mile radius, recent trends show population growth with households expanding faster than residents, and forward-looking estimates point to further household increases alongside smaller average household sizes. For investors, that combination typically enlarges the renter pool and supports occupancy stability over time.
Home values in the neighborhood are elevated relative to local incomes by national comparison, creating a high-cost ownership market that tends to reinforce reliance on rental housing. For a 2009-vintage property, the newer profile versus the area’s older average stock (1970) can enhance competitive positioning, though investors should still plan for mid-life system updates and selective modernization to protect yield.
Neighborhood safety metrics sit below the national median, reflecting higher reported incident rates than many U.S. areas. However, year-over-year trends indicate a measurable decline in violent incidents, suggesting some directional improvement relative to national peers. As always, investors should assess security measures, property design, and local partnerships as part of operations planning.
The employment base nearby mixes industrial services and corporate operations that support workforce housing demand and commute convenience for renters, including Waste Management, Lockheed Martin Aeronautics, AmerisourceBergen, Boston Scientific Neuromodulation, and Charter Communications.
- Waste Management - Palmdale — environmental services (2.2 miles)
- Lockheed Martin Aeronautics Co. — defense & aerospace (2.3 miles)
- AmerisourceBergen — pharmaceuticals distribution (27.8 miles)
- Boston Scientific Neuromodulation — medical devices (28.1 miles)
- Charter Communications — telecommunications (29.2 miles)
The 2009 construction vintage positions this 78-unit property competitively against an area where much of the housing stock is older, aiding leasing and reducing near-term obsolescence risk. Neighborhood occupancy trends sit near the national median and have improved, and the share of housing units that are renter-occupied is exceptionally high—factors that typically bolster depth of the tenant base and leasing stability. According to CRE market data from WDSuite, elevated ownership costs relative to incomes in this neighborhood further support renter reliance on multifamily housing.
Within a 3-mile radius, households have expanded and are projected to grow further even as average household size trends lower, which often translates to a larger renter pool over time. Investors should balance these demand tailwinds with prudent underwriting for affordability pressure and operating focus on safety and community standards.
- 2009 vintage offers competitive positioning versus older neighborhood stock, with manageable mid-life updates
- High renter-occupied share indicates a deep tenant base supporting occupancy stability
- Daily-needs access (grocery and parks) ranks strong nationally, aiding resident retention
- 3-mile household growth and smaller household sizes suggest continued renter pool expansion
- Key risks: affordability pressure and below-median safety require disciplined leasing and operations