| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Poor |
| Demographics | 17th | Poor |
| Amenities | 59th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 38665 12th St E, Palmdale, CA, 93550, US |
| Region / Metro | Palmdale |
| Year of Construction | 1985 |
| Units | 24 |
| Transaction Date | 1994-02-09 |
| Transaction Price | $575,000 |
| Buyer | PALMCREST REALTY INC |
| Seller | RUSSON TONY N |
38665 12th St E Palmdale Multifamily Investment
According to WDSuite’s CRE market data, neighborhood occupancy has been steady with renter demand supported by a slight majority of renter-occupied units within the 3-mile area, suggesting durable leasing fundamentals for a well-located asset.
The property sits in Palmdale’s Urban Core within the Los Angeles metro, where neighborhood occupancy trends are broadly stable and align near the national middle. The area’s building stock skews older, and a 1985 vintage positions this asset newer than the local average (1970), supporting competitive tenancy versus older comparables while still warranting routine system updates typical of mid-1980s construction.
Local livability is anchored by everyday conveniences: grocery and park access score in the higher national percentiles, while cafes and pharmacies are thinner. In metro context, the neighborhood’s amenity rank indicates it is competitive among Los Angeles neighborhoods in day-to-day essentials without relying on destination retail.
Within a 3-mile radius, demographics show recent population and household growth, with forecasts calling for smaller average household sizes and a continued increase in household counts. For multifamily investors, this points to a larger tenant base over time and diversified unit demand, which can support occupancy stability even if population growth moderates.
Tenure patterns within 3 miles indicate a slight majority of housing units are renter-occupied, reinforcing depth of demand for workforce-oriented apartments. Ownership costs run high relative to local incomes (top decile nationally by value-to-income), which tends to sustain reliance on rental housing and can bolster pricing power, whereas rent-to-income levels signal some affordability pressure that calls for disciplined renewal and lease management.
Safety signals are mixed in this Los Angeles metro neighborhood. Compared with neighborhoods nationwide, overall safety sits below the national middle, but recent data show improvement in severe offenses. Within the metro (1,441 neighborhoods), the area trends below the median on crime, while national measures place it in lower percentiles for safety; however, year-over-year violent offense rates have moved in a favorable direction, indicating a moderating trend.
For investors, the takeaway is to underwrite with standard precautions—enhanced lighting, access controls, and tenant-screening protocols—while recognizing improving momentum can support resident retention and operational stability over a longer horizon.
Nearby employment anchors include aerospace, environmental services, telecom, and healthcare-related offices, which support a steady renter base through convenient commutes for shift and professional workers. Notable employers in proximity include Lockheed Martin Aeronautics Co., Waste Management, AmerisourceBergen, Boston Scientific Neuromodulation, and Charter Communications.
- Lockheed Martin Aeronautics Co. — defense & aerospace (1.8 miles)
- Waste Management - Palmdale — environmental services (2.6 miles)
- Amerisourcebergen — pharmaceutical distribution (28.2 miles)
- Boston Scientific Neuromodulation — medical devices (28.5 miles)
- Charter Communications — telecom (29.8 miles)
This 24-unit, mid-1980s asset offers exposure to a renter-heavy pocket of the Los Angeles metro where everyday amenities, stable neighborhood occupancy, and proximity to aerospace and services employers support demand. The 1985 vintage is newer than the neighborhood average, positioning the property competitively versus older stock while leaving room for targeted capital plans to modernize interiors and common areas for rent optimization.
According to CRE market data from WDSuite, ownership costs remain elevated relative to local incomes, which sustains renter reliance on multifamily housing. Within a 3-mile radius, households have grown and are projected to keep increasing even as average household size edges lower—dynamics that can expand the renter pool and support occupancy and leasing continuity. The principal risk to monitor is affordability pressure, which argues for measured rent growth, resident retention strategies, and expense discipline.
- Newer-than-neighborhood-average 1985 vintage supports competitive positioning with value-add potential
- Renter-occupied share within 3 miles forms a solid demand base for stabilized leasing
- Elevated ownership costs reinforce reliance on rentals, aiding pricing power and retention
- Nearby aerospace and services employers provide commute convenience and tenant depth
- Affordability pressure presents a risk—manage renewals and expenses to sustain performance