| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Poor |
| Demographics | 17th | Poor |
| Amenities | 59th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 38601 10th St E, Palmdale, CA, 93550, US |
| Region / Metro | Palmdale |
| Year of Construction | 1978 |
| Units | 76 |
| Transaction Date | 2003-03-17 |
| Transaction Price | $85,000 |
| Buyer | KO ALLEN |
| Seller | CONTINENTAL FOUNDATION |
38601 10th St E 76-Unit Palmdale Multifamily
Neighborhood occupancy has hovered around the low-90s in recent years, supporting income durability for stabilized assets according to WDSuite’s CRE market data. For investors, demand is reinforced by a large renter base in the immediate neighborhood, with more balanced tenure in the broader 3-mile area.
This Palmdale location offers day-to-day convenience anchored by strong grocery and park access at the neighborhood level, while restaurants are reasonably available; by contrast, cafes and pharmacies are limited. For investors, this mix supports workforce housing demand and everyday livability without paying for lifestyle premiums.
The asset’s 1978 vintage is newer than the area’s average construction year (1970), which can help competitiveness versus older inventory. That said, systems are approaching mid-life for a 1970s property, so thoughtful capital planning can unlock value through targeted renovations and modernization.
At the neighborhood scale, renter concentration sits at the top of the metro distribution, indicating deep multifamily demand. Within a 3-mile radius, tenure is more balanced between renter- and owner-occupied units, broadening the potential tenant pool while reducing reliance on a single cohort.
Ownership costs in Los Angeles County remain elevated relative to incomes, and neighborhood home values trend higher than national norms. This high-cost ownership backdrop typically sustains reliance on rental housing, which can support lease retention and occupancy stability for well-managed properties.
Demographic statistics aggregated within a 3-mile radius show growth in households over the past five years and a projected increase through the forecast period, even as average household size trends lower. For multifamily, this points to a larger tenant base and steady absorption potential rather than dependence on in-migration alone.
Safety trends are mixed. The neighborhood ranks below the metro median for crime (relative to 1,441 Los Angeles–area neighborhoods), placing it behind many peers. Nationally, it falls below average on both violent and property offense comparisons.
A constructive detail for investors: recent data indicates a year-over-year decline in violent offense rates, a positive directional trend compared with many U.S. neighborhoods. prudent operations—lighting, access control, and resident engagement—remain important for retention and leasing stability.
Nearby employers anchor a diverse blue- and white-collar workforce, supporting renter demand and commute convenience. Notable names include Lockheed Martin Aeronautics, Waste Management, AmerisourceBergen, Boston Scientific Neuromodulation, and Charter Communications.
- Lockheed Martin Aeronautics Co. — defense & aerospace (1.8 miles)
- Waste Management - Palmdale — environmental services (2.4 miles)
- Amerisourcebergen — pharmaceutical distribution (28.0 miles)
- Boston Scientific Neuromodulation — medical devices (28.3 miles)
- Charter Communications — cable & telecommunications (29.7 miles)
This 76-unit, 1978-vintage asset aligns with workforce rental demand in an Urban Core setting where the neighborhood shows high renter concentration and stable occupancy. Grocery and park access are strong locally, and a diversified employment base—including aerospace and services—supports tenant retention. According to CRE market data from WDSuite, neighborhood occupancy has remained in the low-90s, suggesting a base level of income stability for well-managed properties.
The vintage offers potential value through selective renovations and system upgrades to improve competitive positioning against older stock. Elevated ownership costs in the region reinforce reliance on multifamily housing, while 3-mile demographics point to household growth and a larger renter pool over the next several years. Affordability pressure should be monitored in leasing and renewal strategies to sustain occupancy and limit turnover costs.
- Stable neighborhood occupancy and deep renter base support income durability
- 1978 vintage presents targeted value-add and modernization opportunities
- Proximity to aerospace and services employers underpins leasing demand
- High-cost ownership market sustains multifamily reliance and retention potential
- Risks: below-metro safety standing and rent-to-income pressure require proactive operations