| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Poor |
| Demographics | 17th | Poor |
| Amenities | 59th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 937 E Avenue R, Palmdale, CA, 93550, US |
| Region / Metro | Palmdale |
| Year of Construction | 1982 |
| Units | 32 |
| Transaction Date | 2024-08-23 |
| Transaction Price | $4,400,000 |
| Buyer | GROUP XIII PROPERTIES LP |
| Seller | H AND G JOINT VENTURE |
937 E Avenue R Palmdale 32-Unit Multifamily
Neighborhood occupancy sits in the low-90s with a notably high renter concentration, supporting demand resilience according to WDSuite’s CRE market data. Elevated ownership costs in the area further sustain reliance on multifamily housing.
Located in Palmdale’s Urban Core, the property benefits from neighborhood-level occupancy in the low-90s and a renter-occupied share that is exceptionally high among Los Angeles metro neighborhoods. These metrics refer to the neighborhood, not the property, and indicate a deep tenant base that can support leasing velocity and retention for professionally managed multifamily assets.
Amenity access is mixed: parks and groceries score in the upper percentiles nationally, while cafes and pharmacies are sparse. For investors, this points to everyday convenience for residents (groceries, open space) but fewer lifestyle anchors within walking distance, implying that on-site amenities and unit finishes may play a larger role in tenant retention.
Within a 3-mile radius, recent population growth has been modest while households have increased, and forecasts point to further household gains alongside smaller average household sizes. This dynamic generally expands the renter pool and can support occupancy stability as more, smaller households seek rental options. Median home values are elevated relative to local incomes, which, in market terms, reinforces renter reliance on multifamily housing and can support pricing power for well-positioned assets.
Median contract rents in the surrounding area have trended upward over recent years and are projected to continue rising, based on commercial real estate analysis from WDSuite. Given the neighborhood’s occupancy trend edging higher over the last five years, owners may prioritize revenue management and targeted upgrades to compete effectively against older stock.
Safety conditions in the immediate neighborhood rank below the metro median among 1,441 Los Angeles-area neighborhoods and sit below the national median. While current levels warrant active property-level measures (lighting, access controls, professional management), recent data show violent offenses trending down year over year, which is a constructive directional signal.
Investors should underwrite appropriate operating practices and partnership with local resources, and consider tenant-facing safety improvements that can aid retention and support stabilized operations over the hold period.
- Waste Management - Palmdale — waste services (2.1 miles)
- Lockheed Martin Aeronautics Co. — aerospace & defense offices (2.5 miles)
- AmerisourceBergen — pharmaceutical distribution (27.7 miles)
- Boston Scientific Neuromodulation — medical devices (28.0 miles)
- Charter Communications — telecommunications (29.0 miles)
Built in 1982, this 32-unit asset is newer than much of the surrounding housing stock, offering relative competitiveness versus older properties while leaving room for modernization to enhance rentability. The neighborhood shows stable, low-90s occupancy and an unusually high share of renter-occupied units, indicating depth of demand and a sizable tenant base. According to CRE market data from WDSuite, area rents have moved higher and neighborhood occupancy has improved over five years, suggesting owners can pair disciplined revenue management with targeted upgrades to drive performance.
Within a 3-mile radius, households have been increasing and are projected to grow further even as average household size trends lower, conditions that generally support renter pool expansion and leasing stability. Elevated home values relative to incomes reinforce reliance on rental housing, though higher rent-to-income levels in the immediate neighborhood point to affordability pressure that should be managed through thoughtful lease strategies and amenity positioning.
- 1982 vintage offers a competitive edge vs. older stock, with value-add potential through modernization.
- Neighborhood-level occupancy in the low-90s and high renter concentration support demand depth and retention.
- Household growth within 3 miles expands the renter pool and underpins leasing stability.
- Elevated ownership costs favor sustained multifamily demand and pricing power for well-positioned assets.
- Risks: below-median safety metrics and affordability pressure necessitate proactive management and underwriting discipline.