| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Poor |
| Demographics | 17th | Poor |
| Amenities | 59th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 38257 12th St E, Palmdale, CA, 93550, US |
| Region / Metro | Palmdale |
| Year of Construction | 1985 |
| Units | 33 |
| Transaction Date | 1993-07-26 |
| Transaction Price | $417,500 |
| Buyer | KRAVITZ RICHARD |
| Seller | FIDELITY FEDERAL BANK |
38257 12th St E Palmdale Multifamily Investment
Neighborhood occupancy trends are steady and roughly in line with broader market patterns, supporting leasing durability, according to WDSuite’s CRE market data. Renter demand is supported by a sizable tenant base in the area, with investment focus on income stability over near‑term outsized growth.
Situated in Palmdale within the Los Angeles-Long Beach-Glendale metro, the neighborhood scores as competitive among metro peers (ranked 630 out of 1,441 neighborhoods for amenities). Grocery and park access track in the upper tiers nationally, while pharmacies and cafes are limited, suggesting day-to-day convenience for residents but fewer lifestyle retail nodes.
The property’s 1985 construction is newer than the neighborhood’s average vintage (1970). That positioning can help with competitiveness versus older stock; investors should still plan for modernization of aging systems and common areas to support rentability and retention.
For rents and occupancy at the neighborhood level, conditions are around the national midpoint and have trended upward over the past five years, which supports income stability rather than aggressive near‑term growth. Within a 3‑mile radius, about half of housing units are renter‑occupied, indicating a meaningful renter concentration and a broad tenant pool for multifamily operators.
Demographics aggregated within 3 miles show population and household growth over the last five years, expanding the renter pool. Looking ahead, forecasts indicate households are expected to increase even if population growth softens, implying smaller average household size and continued demand for rental units that can support occupancy stability.
Home values are elevated relative to local incomes in the neighborhood context, a pattern common in the Los Angeles metro. This high-cost ownership environment tends to sustain reliance on multifamily rentals, supporting lease-up and retention, though operators should manage rent-to-income pressures with thoughtful renewal strategies.
Safety metrics for the neighborhood are below the metro average, with national comparisons indicating a less safe profile overall. However, recent trends show improvement in violent incident rates year over year, suggesting some directional progress. As always, investors should underwrite with appropriate insurance, security, and operational protocols, and compare to nearby Los Angeles-Long Beach-Glendale submarkets for relative risk.
Nearby employers anchor a diversified workforce, supporting renter demand through commute convenience. Key nodes include aerospace and defense, environmental services, pharmaceutical distribution, medical devices, and telecommunications.
- Lockheed Martin Aeronautics Co. — defense & aerospace (2.29 miles)
- Waste Management - Palmdale — environmental services (2.44 miles)
- AmerisourceBergen — pharmaceutical distribution (28.04 miles)
- Boston Scientific Neuromodulation — medical devices (28.37 miles)
- Charter Communications — telecommunications (29.34 miles)
This 33‑unit asset built in 1985 offers a pragmatic, income-focused thesis: neighborhood occupancy is near mid-cycle levels and trending upward, and the 3‑mile area maintains a sizable renter base that supports leasing stability. Elevated ownership costs relative to income in the neighborhood context reinforce renter reliance on multifamily housing, while proximity to established employment nodes underpins steady demand. Based on CRE market data from WDSuite, the neighborhood’s amenity access is competitive within the metro, with strong grocery and park availability that helps day-to-day livability.
From an operational standpoint, vintage positions the property ahead of older area stock, with potential value-add through targeted common-area and system upgrades. Forward-looking household growth within 3 miles, even alongside smaller household sizes, points to a broader base of renters over time. Risks include below-average safety benchmarks and rent-to-income pressure, calling for measured underwriting and renewal management.
- Steady neighborhood occupancy and upward trend support income durability
- 3‑mile renter concentration provides depth of tenant demand and leasing resilience
- 1985 vintage offers competitive positioning vs. older stock with targeted value‑add potential
- Strong grocery and park access bolster livability relative to metro peers
- Risks: below‑average safety metrics and affordability pressure require disciplined lease and expense management