| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Poor |
| Demographics | 17th | Poor |
| Amenities | 59th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 38729 10th St E, Palmdale, CA, 93550, US |
| Region / Metro | Palmdale |
| Year of Construction | 1986 |
| Units | 51 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
38729 10th St E Palmdale Multifamily with Stable Renter Base
Neighborhood occupancy trends are broadly steady and supported by a very high share of renter-occupied units, according to WDSuite’s CRE market data; note these metrics describe the surrounding neighborhood, not the property. This positioning points to consistent tenant depth with room for asset-specific value creation.
The property sits in Palmdale within the Los Angeles-Long Beach-Glendale metro, where neighborhood livability is anchored by everyday conveniences rather than boutique retail. Grocery and park access score competitively among the metro (grocery density ranks 504 out of 1,441, and parks 265 out of 1,441), translating to practical amenities, while restaurants trend above national midpoints; cafes and pharmacies are comparatively sparse, which may modestly limit walk-to options.
For investors, renter demand is the core story. The neighborhood shows an exceptionally high renter-occupied housing share (ranked 10 out of 1,441 metro neighborhoods), indicating a deep tenant base that can support leasing velocity and renewal potential. Overall neighborhood occupancy is near the national midpoint but trails the metro median, suggesting asset-level operations and renovations can materially influence performance.
Within a 3-mile radius, demographics indicate a growing renter pool: population and households expanded over the last five years, and households are projected to rise further by 2028 even as average household size edges down. That pattern typically broadens the addressable tenant base and supports occupancy stability. Median contract rents in the neighborhood sit above national midpoints, and a high-cost ownership backdrop (elevated value-to-income ratios) reinforces reliance on multifamily, supporting pricing power when units are well-positioned.
Vintage is a consideration: built in 1986, the asset is newer than the neighborhood’s average vintage from 1970, offering relative competitiveness versus older stock. Investors should still plan for targeted system upgrades or common-area improvements to keep the property aligned with renter expectations and to capture value-add upside.
Safety trends are mixed and should be incorporated into underwriting. The neighborhood ranks 1,118 out of 1,441 metro neighborhoods for overall crime, placing it below the metro median and below national safety midpoints (36th percentile nationally). Violent offense conditions benchmark in the lower national percentiles (16th), though recent year-over-year data show improvement with a declining violent offense trend. Property offense benchmarks also sit below national midpoints (around the low 20s by percentile). Monitoring trajectory and applying standard security enhancements can help mitigate risk and support retention.
Nearby employers span defense & aerospace, environmental services, pharmaceutical distribution, medical devices, and telecommunications—diverse sectors that support workforce housing demand and commute convenience for renters at this location. The list below highlights notable employers by proximity.
- Lockheed Martin Aeronautics Co. — defense & aerospace (1.6 miles)
- Waste Management - Palmdale — environmental services (2.5 miles)
- Amerisourcebergen — pharmaceutical distribution (28.0 miles)
- Boston Scientific Neuromodulation — medical devices (28.3 miles)
- Avery Dennison — materials manufacturing (30.7 miles) — HQ
This 51-unit, 1986-vintage asset benefits from an unusually high concentration of renter-occupied housing in the surrounding neighborhood, a profile that supports tenant depth and occupancy stability. Neighborhood occupancy trends sit near national midpoints but below the metro median, creating room for asset-level value creation through renovations and operational execution. A high-cost ownership market in the area sustains renter reliance on multifamily, while everyday amenities (notably parks and groceries) provide practical appeal despite limited cafe and pharmacy density.
Within a 3-mile radius, recent growth in population and households, alongside projections for continued household expansion through 2028, point to a larger tenant base over time—even as household sizes trend smaller. According to CRE market data from WDSuite, neighborhood rent levels benchmark above national midpoints, reinforcing the case for targeted upgrades to capture pricing where supported by unit finishes and community features. The 1986 vintage is newer than the neighborhood average, offering a competitive starting point, though investors should budget for aging systems and modernization.
- Deep renter base supports leasing velocity and renewal potential
- Occupancy near national midpoints with upside via renovations and operations
- High-cost ownership landscape reinforces multifamily demand and pricing power
- 1986 vintage offers competitive positioning vs. older stock with targeted capex
- Risk: below-metro safety benchmarks and limited cafe/pharmacy density warrant proactive management