| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Poor |
| Demographics | 13th | Poor |
| Amenities | 61st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 38300 30th St E, Palmdale, CA, 93550, US |
| Region / Metro | Palmdale |
| Year of Construction | 1986 |
| Units | 88 |
| Transaction Date | 2013-07-25 |
| Transaction Price | $25,000,250 |
| Buyer | 38300 30TH STREET MULTI LLC |
| Seller | MCIF FOUNTAINS LP |
38300 30th St E Palmdale 88-Unit Multifamily Investment
Neighborhood occupancy is near full and renter demand is durable according to WDSuite’s CRE market data, pointing to steady leasing conditions at the submarket level. These neighborhood statistics reflect area conditions rather than the property’s own occupancy.
The property sits in an Inner Suburb setting of the Los Angeles-Long Beach-Glendale metro, where neighborhood occupancy ranks 110 out of 1,441 metro neighborhoods and is in the top quartile nationally. That backdrop supports pricing power and lease retention, while acknowledging that these are neighborhood measures, not the property’s own occupancy.
Built in 1986, the asset is older than the neighborhood’s average construction year (2006). Investors should plan for ongoing capital expenditures and consider value-add upgrades to remain competitive against newer stock, especially in common areas and building systems that influence operating efficiency and leasing velocity.
Area livability is mixed. Food-and-beverage density is strong with cafes and restaurants ranking competitively among the 1,441 metro neighborhoods and scoring high in national percentiles, while parks access also rates above average nationally. In contrast, neighborhood school ratings trend below national norms and local childcare and pharmacy counts are limited, which can matter for resident preferences and length of stay.
Tenure data indicates a high share of renter-occupied housing units at the neighborhood level, reinforcing depth of the tenant base. Within a 3-mile radius, population and households have grown over the past five years and are projected to continue increasing, pointing to a larger renter pool and support for occupancy stability. Neighborhood median contract rents sit above national medians, and elevated rent-to-income ratios signal some affordability pressure that owners should manage through renewal strategies and unit mix positioning.
Safety indicators are mixed and should be interpreted in context. Overall crime levels sit around the national median, and the neighborhood’s crime standing is mid-pack relative to the 1,441 neighborhoods in the Los Angeles-Long Beach-Glendale metro. Year over year, both property and violent offense estimates have improved meaningfully, suggesting near-term momentum rather than a structural guarantee.
For investors, the takeaway is to underwrite to current trends while recognizing variability across blocks. Compare insurance, security, and lighting/amenity plans to peer assets and monitor continuing trend improvements before assuming outsized gains in loss performance.
Proximity to regional employers supports leasing by shortening commutes for a diverse workforce. Notable nearby employers include Lockheed Martin Aeronautics Co., Waste Management - Palmdale, AmerisourceBergen, Boston Scientific Neuromodulation, and Avery Dennison.
- Lockheed Martin Aeronautics Co. — defense & aerospace (3.2 miles)
- Waste Management - Palmdale — environmental services (4.3 miles)
- AmerisourceBergen — pharmaceutical distribution (29.8 miles)
- Boston Scientific Neuromodulation — medical devices (30.2 miles)
- Avery Dennison — materials & labeling (30.8 miles) — HQ
This 88-unit, 1986-vintage community benefits from a neighborhood with top-quartile occupancy among 1,441 Los Angeles-Long Beach-Glendale metro neighborhoods, supporting stable cash flow prospects. Based on CRE market data from WDSuite, the area’s high share of renter-occupied housing units and strong amenity coverage in dining and parks point to durable renter demand, while acknowledging softer school quality and limited childcare/pharmacy options that can affect certain household segments.
The property’s older vintage relative to the neighborhood average (2006) suggests clear value-add potential through modernization and efficiency upgrades to compete with newer supply. Within a 3-mile radius, population and households have expanded and are projected to grow further, expanding the tenant base; however, elevated rent-to-income ratios indicate affordability pressure that should be managed through renewal strategies and careful rent setting to protect retention.
- Top-quartile neighborhood occupancy among 1,441 metro neighborhoods supports leasing stability
- 1986 vintage offers value-add and systems modernization opportunities versus newer local stock
- 3-mile radius shows population and household growth, expanding the renter pool
- Strong dining and park access aids marketing and retention
- Risk: elevated rent-to-income and weaker school ratings require cautious rent management and targeted amenity strategy