| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 45th | Fair |
| Amenities | 69th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 587 Knollview Ct, Palmdale, CA, 93551, US |
| Region / Metro | Palmdale |
| Year of Construction | 1987 |
| Units | 48 |
| Transaction Date | 2015-07-08 |
| Transaction Price | $6,338,500 |
| Buyer | CC KNOLLVIEW LLC |
| Seller | PMSRE PALMDALE LLC |
587 Knollview Ct, Palmdale — 48-Unit Value-Add Play
Neighborhood renter concentration and above-median occupancy point to durable leasing fundamentals, according to WDSuite s CRE market data, supporting a steady tenant base for a 1987-vintage asset with potential operational upside.
This Inner Suburb pocket of Palmdale carries a B+ neighborhood rating and performs competitively within the Los Angeles–Long Beach–Glendale metro (ranked 461 among 1,441 neighborhoods). Parks, pharmacies, groceries, and restaurants benchmark in the low-to-high 80s nationally by amenity access, suggesting day-to-day convenience for residents. Caf e9 density is limited, so food-and-beverage variety skews toward restaurants rather than coffee-focused options.
Neighborhood occupancy is 94.5% (68th percentile nationally), indicating generally stable leasing conditions at the neighborhood level rather than at the property. Renter-occupied housing accounts for 54.6% of units here emd asha deep tenant pool that supports multifamily demand and can aid retention management through cycles. Housing fundamentals also score well relative to metro peers (rank 126 of 1,441 emd aocompetitive among Los Angeles–Long Beach–Glendale neighborhoods).
The 1987 construction year is older than the area e2 80 99s average vintage (1996), implying near-to-midterm capital planning for systems and common areas. That age gap can also create value-add or modernization opportunities to differentiate against newer product.
Within a 3-mile radius, recent population growth has been positive, household counts have risen, and incomes have trended higher emd aofactors that expand the renter base and support occupancy stability. Elevated home values relative to incomes indicate a high-cost ownership market, which typically sustains multifamily demand and can reinforce pricing power, while a modest rent-to-income ratio suggests manageable affordability pressure for lease management.
School ratings in the neighborhood average around 2 out of 5 (37th percentile nationally). For workforce-oriented properties, that profile primarily factors into leasing mix and marketing rather than materially constraining renter demand, but it remains a consideration for family-oriented unit types.
Safety benchmarks trail national averages (overall crime measures sit below the midpoint nationally), so investors should underwrite with conservative assumptions for security, lighting, and site operations. At the same time, property crime has been trending down emd aothe estimated rate declined by roughly a third year over year emd aowhich is a constructive directional signal. These are neighborhood-level indicators, not property-specific conditions.
Nearby employment anchors span industrial services, aerospace, pharma distribution, medical devices, and telecom emd aosupporting a broad renter base and commute-friendly demand for workforce housing.
- Waste Management - Palmdale emdash waste & environmental services (0.93 miles)
- Lockheed Martin Aeronautics Co. emdash aerospace & defense (2.58 miles)
- AmerisourceBergen emdash pharmaceutical distribution (26.27 miles)
- Boston Scientific Neuromodulation emdash medical devices (26.56 miles)
- Charter Communications emdash telecommunications (28.63 miles)
587 Knollview Ct offers 48 units with average unit sizes near 871 sq. ft., positioned in a neighborhood that shows above-median occupancy and strong renter concentration at the neighborhood level, according to CRE market data from WDSuite. The 1987 vintage is older than nearby stock on average, pointing to value-add potential through targeted renovations and systems upgrades to compete against newer assets.
Within a 3-mile radius, the area has seen population growth alongside notable increases in household counts and incomes, expanding the tenant base and supporting rentability. Forward-looking projections show household growth outpacing population as household sizes decline, which can translate into more renters entering the market and support for occupancy stability. Elevated ownership costs in the neighborhood context tend to sustain reliance on multifamily housing, while current rent-to-income dynamics suggest manageable affordability pressure from an investor e2 80 99s lease management standpoint.
- Competitive neighborhood fundamentals with above-median occupancy and strong renter concentration support leasing durability
- 1987-vintage asset presents clear value-add and modernization pathways versus newer local stock
- 3-mile household growth and rising incomes expand the tenant base and reinforce demand depth
- Elevated ownership costs in the area help sustain multifamily demand and pricing resilience
- Risks: neighborhood safety benchmarks trail national norms; capex needed for an older asset; school scores are modest