| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Poor |
| Demographics | 5th | Poor |
| Amenities | 46th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 38745 15th St E, Palmdale, CA, 93550, US |
| Region / Metro | Palmdale |
| Year of Construction | 1986 |
| Units | 22 |
| Transaction Date | 1994-04-15 |
| Transaction Price | $287,000 |
| Buyer | PRESIDENTIAL CALIFORNIA FINANCIAL FUNDIN |
| Seller | MOUNTAIN QUAIL PROPERTIES INC |
38745 15th St E Palmdale Multifamily Investment
Stabilized neighborhood occupancy and a majority renter-occupied housing base suggest durable tenant demand, according to WDSuite’s CRE market data. Positioned for workforce renters, the asset benefits from a practical location within the Antelope Valley submarket.
This Inner Suburb pocket of Palmdale shows solid renter fundamentals: neighborhood occupancy is elevated versus national norms, and renter-occupied housing makes up a majority of units. For investors, that translates into a deeper tenant base and support for leasing stability at properties like this one, though retention still depends on pricing and asset quality.
Everyday retail access is a relative strength. The neighborhood ranks above the metro median for groceries and dining density (competitive among Los Angeles-Long Beach-Glendale neighborhoods), while parks, pharmacies, and cafes are limited within the immediate area. That mix tends to favor convenience-driven renters but may modestly constrain lifestyle appeal unless offset by on-site amenities.
Within a 3-mile radius, recent years have brought population growth alongside a rising number of households and families; forward-looking data points to continued household growth with smaller average household sizes. For multifamily, a larger household count with slightly smaller households typically supports a broader renter pool and helps occupancy resilience at comparable assets.
Median home values in the neighborhood sit within a higher-cost ownership context relative to local incomes (value-to-income levels in the top decile nationally). In practice, that tends to reinforce reliance on rental housing and can support pricing power, though elevated rent-to-income ratios warrant careful lease management and attention to renewal strategies.
Vintage characteristics are slightly newer than nearby stock (the property was built in 1986 versus an early-1980s neighborhood average). That positioning can aid competitiveness against older assets, while still leaving room for targeted system upgrades and renovations to drive rent and retention.
Safety indicators for the neighborhood trail national medians and rank in the lower half among 1,441 Los Angeles metro neighborhoods. For underwriting, this typically argues for prudent security measures and tenant screening to support retention.
Trend-wise, WDSuite’s CRE data shows year-over-year declines in both property and violent offense estimates, an improving direction that investors may view as constructive. Even so, comparative safety remains below national averages, so expectations should reflect submarket positioning rather than core infill assumptions.
Nearby employment centers skew toward aerospace, environmental services, pharmaceuticals, medical devices, and telecom — a mix that supports workforce housing demand and commute convenience for renters at and around the property. The following employers anchor that base:
- Lockheed Martin Aeronautics Co. — defense & aerospace offices (1.7 miles)
- Waste Management - Palmdale — environmental services (2.9 miles)
- AmerisourceBergen — pharmaceutical distribution (28.5 miles)
- Boston Scientific Neuromodulation — medical devices (28.8 miles)
- Charter Communications — telecommunications (30.1 miles)
This 22-unit, 1986-vintage asset aligns with durable renter demand in an Inner Suburb location where neighborhood occupancy runs above national norms and renter-occupied housing is the majority. Based on CRE market data from WDSuite, the surrounding area offers strong access to everyday retail and a meaningful base of aerospace and services employment, supporting leasing depth for workforce-oriented product. The vintage is slightly newer than much of the nearby stock, which can aid competitive positioning while leaving room for targeted upgrades to drive rent and retention.
Within a 3-mile radius, recent population growth and an increase in households point to a larger tenant base; projections indicate further household gains even as average household size trends lower — a setup that can sustain multifamily absorption. Ownership remains relatively high-cost against incomes, which tends to reinforce rental reliance and can support pricing power, though elevated rent-to-income ratios underscore the need for careful lease management.
- Elevated neighborhood occupancy and majority renter-occupied housing support demand depth
- 1986 vintage slightly newer than nearby stock, with value-add potential via targeted upgrades
- 3-mile household growth and smaller household sizes expand the renter pool and support absorption
- Proximity to aerospace and services employers underpins workforce leasing and retention
- Risks: below-median safety indicators, limited parks/cafes locally, and higher rent-to-income levels require active management