| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Fair |
| Demographics | 10th | Poor |
| Amenities | 30th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 413 E Avenue Q7, Palmdale, CA, 93550, US |
| Region / Metro | Palmdale |
| Year of Construction | 1982 |
| Units | 20 |
| Transaction Date | 2014-04-03 |
| Transaction Price | $1,300,000 |
| Buyer | GROUP XIII PROPERTIES L P |
| Seller | CW PIEDMONT LLC |
413 E Avenue Q7 Palmdale Multifamily Investment
Neighborhood occupancy is in the low-90s and renter concentration is high, pointing to a sizable tenant base, according to WDSuite’s CRE market data. Steady renter demand and relatively newer 1980s stock position this 20-unit asset for pragmatic value-add and disciplined operations.
Located in Palmdale’s inner-suburban fabric of the Los Angeles-Long Beach-Glendale metro, the property sits in a renter-driven neighborhood with a high share of renter-occupied units (neighborhood tenure), which supports depth of demand for multifamily. Neighborhood occupancy trends are stable around the low-90s, which can aid income durability when paired with conservative leasing assumptions, based on CRE market data from WDSuite.
Local amenity access is mixed: restaurants are comparatively dense (high national percentile), and grocery availability is strong versus many U.S. neighborhoods, while parks, pharmacies, cafes, and childcare options are thinner. For investors, this pattern suggests day-to-day convenience for residents but fewer lifestyle amenities within immediate blocks, which may modestly influence leasing velocity and tenant retention strategies.
Schools in the neighborhood benchmark below national norms (lower-percentile average ratings). For workforce-oriented assets, this typically shifts the renter profile toward value-seeking households and working adults; marketing and unit mix positioning should reflect that reality.
The building’s 1982 vintage is newer than the neighborhood’s average construction year. That generally provides a relative competitive edge versus older stock, though investors should still plan for system upgrades and common-area refreshes to remain competitive with renovated peers.
Demographic statistics within a 3-mile radius indicate modest population growth in recent years and a notable projected increase in households alongside smaller average household sizes. This combination often expands the renter pool and can support occupancy stability, though it also elevates the importance of thoughtful affordability management.
Home values in the neighborhood are elevated relative to local incomes, indicating a high-cost ownership market. This tends to reinforce reliance on rental housing and can support pricing power, but higher rent-to-income ratios also call for careful lease management to mitigate retention risk.
Relative to Los Angeles-Long Beach-Glendale neighborhoods (1,441 total), this area benchmarks below metro average for safety. Nationally, it sits in a lower safety percentile, signaling that investors should underwrite additional operating focus on security, lighting, and resident communication.
Recent trends show an improvement in violent offense rates year over year, while property offenses remain an area to monitor. For underwriting, a prudent approach is to incorporate modest security-related expenses and evaluate how safety trends compare with nearby competitive assets rather than relying on block-level assumptions.
Nearby employment includes industrial services and aerospace, with additional corporate offices within commuting range. These employers can underpin workforce housing demand and support retention for residents prioritizing commute convenience: Waste Management, Lockheed Martin Aeronautics, AmerisourceBergen, Avery Dennison, and Disney.
- Waste Management - Palmdale — environmental services (1.8 miles)
- Lockheed Martin Aeronautics Co. — aerospace (2.0 miles)
- AmerisourceBergen — pharmaceutical distribution (27.4 miles)
- Avery Dennison — materials & labeling (30.2 miles) — HQ
- Disney — entertainment (31.5 miles) — HQ
This 20-unit, 1982-vintage property offers a practical value-add and income-management thesis in a renter-heavy Palmdale neighborhood. Neighborhood occupancy hovers around the low-90s and the renter-occupied share is high, supporting a deeper tenant base. Within a 3-mile radius, forecasts point to a meaningful increase in households and smaller household sizes, which typically expands the renter pool and supports occupancy stability. According to CRE market data from WDSuite, the area’s ownership costs are elevated relative to incomes, which often sustains rental demand but also requires attention to rent-to-income levels when setting pricing and renewal strategies.
Amenity coverage favors daily needs (notably groceries and dining) over lifestyle offerings, and school ratings benchmark below national averages; both factors should be reflected in underwriting and marketing. The 1982 construction is newer than the neighborhood average, offering relative competitive positioning versus older stock while still calling for selective modernization of interiors and building systems to meet renter expectations.
- Renter-heavy neighborhood with occupancy in the low-90s supports income stability
- 3-mile outlook shows household growth and smaller sizes, expanding the renter pool
- 1982 vintage offers value-add potential and competitive positioning versus older stock
- Elevated ownership costs reinforce reliance on rentals, with careful rent-to-income management
- Risks: below-average safety metrics and lower school ratings warrant prudent operations and underwriting