| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Poor |
| Demographics | 17th | Poor |
| Amenities | 59th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 38633 10th St E, Palmdale, CA, 93550, US |
| Region / Metro | Palmdale |
| Year of Construction | 1982 |
| Units | 57 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
38633 10th St E Palmdale Multifamily Investment
This 57-unit property built in 1982 sits in an Urban Core neighborhood where 88.3% of housing units are renter-occupied, ranking in the top 1% nationally for rental demand concentration according to CRE market data from WDSuite.
This Urban Core neighborhood demonstrates strong fundamentals for multifamily investors, with an exceptionally high rental concentration where 88.3% of housing units are renter-occupied—ranking 10th among 1,441 Los Angeles metro neighborhoods and in the top 1% nationally. The area maintains 91.6% occupancy, providing stability for cash flow planning despite ranking below metro median for overall occupancy performance.
Built in 1982, this property aligns with the neighborhood's average construction year of 1970, suggesting consistent building stock that may present value-add renovation opportunities for investors seeking to modernize units and capture rent premiums. Median contract rents of $1,137 in the immediate neighborhood reflect affordability that supports tenant retention, while demographic data within a 3-mile radius shows 53.9% of housing units are renter-occupied with a median household income of $59,064.
The area offers solid tenant amenities with 3.46 grocery stores per square mile (ranking in the 92nd percentile nationally) and 1.73 childcare facilities per square mile (91st percentile nationally), supporting family-oriented renter demand. However, limited dining and retail options—with no cafes or pharmacies per square mile—may impact tenant appeal compared to more amenity-rich submarkets. Forward-looking demographics show projected household growth of 30.3% through 2028, with median household income expected to rise to $89,525, indicating strengthening renter purchasing power that could support future rent growth.
Safety metrics show mixed performance relative to the broader Los Angeles metro area. Property crime rates rank 1,122nd among 1,441 metro neighborhoods, placing the area below median for property crime, while violent crime rates rank 1,259th, indicating higher than average violent crime levels compared to other neighborhoods in the region.
However, recent trends show improvement with violent crime rates declining 17.9% year-over-year, ranking in the 67th percentile nationally for crime reduction. Property crime increased modestly by 2.1% over the same period. Investors should factor these safety considerations into tenant screening, security measures, and insurance planning while noting the positive trajectory in violent crime reduction.
The Palmdale area benefits from proximity to major aerospace and corporate employers, with Lockheed Martin's aeronautics operations anchoring local employment demand for workforce housing.
- Lockheed Martin Aeronautics Co. — defense & aerospace (1.7 miles)
- Waste Management — waste services (2.4 miles)
- Amerisourcebergen — healthcare distribution (28.0 miles)
- Boston Scientific Neuromodulation — medical devices (28.3 miles)
- Charter Communications — telecommunications (29.7 miles)
This 57-unit property capitalizes on Palmdale's exceptional rental market concentration, where nearly 9 in 10 housing units are renter-occupied—a characteristic that ranks in the top 1% nationally and provides deep rental demand fundamentals. The 1982 construction year presents value-add opportunities for investors to modernize units and capture rent premiums in a market where median rents of $1,137 remain affordable relative to projected income growth. Demographics within a 3-mile radius show household growth of 30.3% projected through 2028, with median income rising from $59,064 to $89,525, supporting future rental demand and pricing power.
Proximity to Lockheed Martin's aerospace operations (1.7 miles) provides employment stability for the local renter base, while the neighborhood's 91.6% occupancy rate offers cash flow predictability despite ranking below metro median. According to multifamily property research from WDSuite, the area's strong amenity infrastructure—including top-quartile grocery and childcare access—supports family-oriented tenant retention, though limited dining and retail options may require consideration in tenant marketing strategies.
- Exceptional rental demand with 88.3% of units renter-occupied, top 1% nationally
- Value-add potential from 1982 vintage in modernization-ready market
- Strong demographic tailwinds with 30% household growth projected through 2028
- Employment stability from nearby Lockheed Martin aerospace operations
- Risk consideration: Below-median safety metrics require enhanced security planning