| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Fair |
| Demographics | 10th | Poor |
| Amenities | 30th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 38308 Division St, Palmdale, CA, 93550, US |
| Region / Metro | Palmdale |
| Year of Construction | 1984 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
38308 Division St Palmdale Multifamily Investment
Positioned in an inner-suburban pocket of Palmdale, the surrounding neighborhood shows steady renter demand and occupancy resilience, according to WDSuite’s CRE market data. This asset’s scale supports operational efficiency while tapping a deep renter-occupied base in the submarket.
This inner-suburban location draws from a renter-heavy neighborhood profile, with a high share of renter-occupied housing units supporting a broad tenant base and leasing velocity. Neighborhood occupancy trends sit above the national midpoint, reinforcing baseline stability for multifamily operators based on CRE market data from WDSuite.
Local amenity access is mixed: restaurant density is strong (top quartile nationally), while parks, pharmacies, childcare, and cafes are limited nearby. For investors, this combination points to everyday conveniences but fewer lifestyle amenities, which can favor value pricing and workforce housing positioning.
Vintage context matters. The neighborhood’s average construction year trends older (1970s), and this 1984 asset is somewhat newer than much of the surrounding stock—often a competitive edge on layout and systems. That said, investors should still underwrite for selective modernization and building system updates typical of 1980s construction.
Within a 3-mile radius, demographics indicate recent population growth and a larger household count, with WDSuite data showing continued household expansion even as average household size edges lower. This shift generally expands the renter pool and supports occupancy stability. Home values are elevated relative to local incomes (high national percentile for value-to-income), which tends to sustain reliance on rental housing; however, rent-to-income readings suggest pockets of affordability pressure that warrant active lease management and retention strategies.
Rents in the neighborhood benchmark in the upper-third nationally, signaling room for professionally managed assets to maintain competitive pricing, while the area’s school ratings track below national averages—an underwriting consideration for family-oriented tenant segments. Overall, the submarket remains competitive among Los Angeles metro neighborhoods where renter concentration and occupancy help anchor downside risk.
Safety indicators for the neighborhood are below national medians, with the area ranking weaker than many peer neighborhoods within the Los Angeles metro (measured among 1,441 metro neighborhoods). According to WDSuite, violent incident rates have improved year over year, while property-related incidents have recently increased—an important nuance for security planning and insurance assumptions.
Investors typically respond by emphasizing lighting, access controls, and partner policing to support resident comfort and retention. Comparing trends to the broader region and tracking the directionality of incidents over time can help calibrate operating strategies without over-relying on any single-year data point.
The area draws demand from nearby industrial and corporate employers that underpin workforce housing and commute convenience, including Waste Management, Lockheed Martin Aeronautics, AmerisourceBergen, Boston Scientific Neuromodulation, and Charter Communications.
- Waste Management - Palmdale — environmental services (1.38 miles)
- Lockheed Martin Aeronautics Co. — defense & aerospace (2.31 miles)
- AmerisourceBergen — pharmaceutical distribution (26.95 miles)
- Boston Scientific Neuromodulation — medical devices (27.26 miles)
- Charter Communications — telecommunications (28.87 miles)
38308 Division St benefits from a renter-heavy neighborhood with occupancy trending above national midpoints, providing a foundation for leasing stability. The 1984 vintage is newer than much of the surrounding 1970s stock, often translating to relative competitiveness and manageable value-add potential, while still planning for targeted system updates typical of 1980s construction. Within a 3-mile radius, household counts are rising and average household size is edging down, expanding the potential renter pool and supporting durable demand, according to CRE market data from WDSuite.
Elevated home values relative to incomes in the neighborhood suggest ownership remains costly, which can sustain demand for multifamily units. At the same time, lower school ratings, limited park/cafe infrastructure, affordability pressure (higher rent-to-income readings), and below-average safety metrics are underwriting factors that call for hands-on operations, proactive resident engagement, and measured rent positioning.
- Renter-heavy neighborhood and above-median occupancy support baseline leasing stability
- 1984 construction offers relative competitiveness versus older 1970s stock with targeted value-add
- 3-mile radius shows growing household counts and a larger renter pool outlook
- Elevated ownership costs bolster renter reliance, aiding pricing power with professional management
- Risks: below-average safety, lower school ratings, and affordability pressure require prudent operations