| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 45th | Fair |
| Amenities | 69th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 565 Knollview Ct, Palmdale, CA, 93551, US |
| Region / Metro | Palmdale |
| Year of Construction | 1987 |
| Units | 48 |
| Transaction Date | 2015-07-08 |
| Transaction Price | $7,718,000 |
| Buyer | CC KNOLLVIEW LLC |
| Seller | SPENCE PALMDALE LLC |
565 Knollview Ct Palmdale Multifamily Investment
This 48-unit property built in 1987 sits in a neighborhood with above-average housing fundamentals and strong rental demand, according to CRE market data from WDSuite.
The Knollview Court property operates within an Inner Suburb neighborhood that ranks in the top quartile nationally for housing fundamentals among 1,491 metro neighborhoods. The area maintains a 94.5% occupancy rate with 54.6% of housing units renter-occupied, indicating sustained rental demand in this Los Angeles County submarket.
Built in 1987, this property predates the neighborhood's average construction year of 1996, presenting potential value-add opportunities through strategic capital improvements and unit upgrades. The area's median contract rent of $1,911 reflects strong pricing power, with five-year rent growth of 32.8% outpacing many comparable submarkets.
Demographics within a 3-mile radius show a stable tenant base with 49,358 residents and household income growth of 36.8% over five years. The area's 50.5% renter share supports multifamily fundamentals, while elevated home values at $504,222 median sustain rental demand by limiting ownership accessibility. Forward-looking projections indicate continued household formation with median household income expected to reach $106,290 by 2028.
Essential amenities support tenant retention with 1.9 grocery stores per square mile and adequate childcare facilities. The neighborhood's B+ rating reflects balanced fundamentals across housing, demographics, and livability factors that underpin long-term rental stability.
The neighborhood's crime profile shows property offense rates that rank in the lower half among Los Angeles metro neighborhoods, though recent trends indicate improvement with property crime declining 33.2% year-over-year. This downward trajectory in property offenses ranks in the top quartile nationally for crime reduction, suggesting positive momentum in community safety conditions.
Violent crime rates remain elevated relative to national benchmarks, ranking in the bottom quartile among metro neighborhoods. Investors should factor these safety considerations into property management strategies, tenant screening protocols, and security infrastructure planning when evaluating this opportunity.
The property benefits from proximity to established corporate employers, including aerospace and waste management operations that provide workforce housing demand.
- Waste Management — waste management services (0.9 miles)
- Lockheed Martin Aeronautics Co. — defense & aerospace (2.6 miles)
- Amerisourcebergen — pharmaceutical distribution (26.3 miles)
- Boston Scientific Neuromodulation — medical devices (26.6 miles)
This 48-unit property presents a value-add opportunity in a neighborhood with strong rental fundamentals and improving market conditions. The 1987 construction year offers renovation upside potential, while the area's 94.5% occupancy rate and 32.8% five-year rent growth demonstrate sustained demand. Demographics within a 3-mile radius support long-term stability with household income growth of 36.8% and continued population expansion expected through 2028.
The neighborhood's top-quartile national ranking for housing fundamentals, combined with elevated home values that sustain rental demand, creates a favorable environment for multifamily property research and investment. Recent crime reduction trends and proximity to established employers like Lockheed Martin Aeronautics provide additional stability factors for tenant retention and lease-up velocity.
- Strong occupancy fundamentals with 94.5% neighborhood rate and robust rental demand
- Value-add potential through strategic renovations of 1987-vintage units
- Growing household income base with 36.8% five-year growth supporting rent growth
- Proximity to aerospace and corporate employers providing workforce housing demand
- Risk consideration: Crime rates remain elevated despite recent improvement trends