| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 45th | Fair |
| Amenities | 69th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 595 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 |
595 Knollview Ct Palmdale Multifamily Investment Opportunity
Neighborhood occupancy is 94.5%, supporting steady leasing fundamentals according to WDSuite’s CRE market data. With a renter-occupied share near the mid‑50s, the submarket offers a broad tenant base and potential retention advantages.
This Inner Suburb neighborhood carries a B+ rating and ranks 461 out of 1,441 Los Angeles–Long Beach–Glendale, CA neighborhoods, making it competitive among metro peers. Amenity access trends above national medians, with grocery, parks, and pharmacies testing in the 80th–high‑80th national percentiles, while cafés are sparse. Average school ratings are below national norms (2.0/5), which may influence family‑oriented leasing strategies.
Renter-occupied housing accounts for roughly 54.6% of units, indicating a sizable tenant pool and demand depth for multifamily. Neighborhood occupancy stands at 94.5% with little movement over five years, pointing to stable utilization of existing inventory rather than rapid churn. Median asking rents benchmark high nationally (around the 90th percentile), reflecting pricing power relative to many U.S. neighborhoods, while the rent-to-income ratio near 0.25 suggests moderated affordability pressure that can support retention and measured renewal strategies.
Within a 3‑mile radius, population and households have expanded in recent years, and forecasts point to continued household growth alongside smaller average household sizes. That pattern typically enlarges the renter pool and supports occupancy stability even if population growth slows, translating into a broader base of prospective tenants.
Ownership costs in the area are elevated versus national benchmarks (home values and value‑to‑income are in the mid‑80s percentiles), which tends to sustain reliance on rental housing and bolster leasing velocity for well‑positioned properties. The subject asset was constructed in 1987, earlier than the neighborhood’s average vintage (1996). For investors, that age differential underscores planning for selective capital improvements and potential value‑add renovations to enhance competitiveness against newer stock.
Relative to Los Angeles–Long Beach–Glendale, CA, the neighborhood’s safety profile trends below the metro median among 1,441 neighborhoods and sits below the national average. National percentiles indicate lower comparative safety today; however, property offense rates have eased year over year, signaling some improvement in non‑violent incidents, while violent‑offense trends have recently ticked up and warrant ongoing monitoring.
For underwriting, investors often incorporate conservative loss assumptions and emphasize on‑site security measures, lighting, and resident engagement programs to support retention and protect NOI in locations with mixed safety signals.
Proximity to a diverse employment base supports renter demand, led by waste services, aerospace and defense, pharmaceutical distribution, medical devices, and labeling/materials. These employers provide a mix of stable blue‑ and white‑collar jobs that can underpin leasing and retention.
- Waste Management - Palmdale — waste services (0.9 miles)
- Lockheed Martin Aeronautics Co. — aerospace & defense (2.6 miles)
- AmerisourceBergen — pharmaceutical distribution (26.3 miles)
- Boston Scientific Neuromodulation — medical devices (26.5 miles)
- Avery Dennison — materials & labeling (29.8 miles) — HQ
This 48‑unit, 1987‑vintage asset benefits from a renter‑oriented neighborhood where occupancy is 94.5% and renter-occupied units account for a majority share, supporting a broad tenant base and leasing stability. Elevated home values relative to local incomes reinforce reliance on rental housing, while a rent‑to‑income ratio near 0.25 suggests room for disciplined rent management and renewal retention. Based on commercial real estate analysis from WDSuite, local rents benchmark high nationally, which rewards well‑maintained properties with competitive finishes.
The vintage is older than the neighborhood average, creating scope for targeted value‑add and system upgrades to sharpen positioning against newer builds. Nearby employment nodes—from aerospace to healthcare and materials—provide diversified demand drivers that can support occupancy through cycles. Risks include below‑average school ratings and a safety profile that trails metro and national averages, which argues for prudent capex and hands‑on asset management.
- Neighborhood occupancy around mid‑90s and majority renter‑occupied share support demand depth and lease stability
- High national rent positioning with moderated rent‑to‑income ratio aids pricing power and renewal retention
- 1987 vintage enables value‑add through interior updates and selective building system improvements
- Diverse nearby employers (aerospace, healthcare, materials) help anchor renter demand across cycles
- Considerations: below‑average school ratings and a below‑median metro safety ranking merit conservative underwriting and proactive operations