| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Fair |
| Demographics | 34th | Poor |
| Amenities | 10th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2110 Briar Creek Way, Lompoc, CA, 93436, US |
| Region / Metro | Lompoc |
| Year of Construction | 2011 |
| Units | 64 |
| Transaction Date | 2015-06-24 |
| Transaction Price | $10,600,000 |
| Buyer | 416 W. North Avenue |
| Seller | Dig Seabreeze LLC |
2110 Briar Creek Way, Lompoc Multifamily Investment
2011 construction positions this 64-unit asset to compete against older local stock, with neighborhood occupancy measured at the neighborhood level showing mid-90s stability according to WDSuite’s CRE market data. The investment lens centers on durable renter demand and pricing resilience relative to the broader Santa Maria–Santa Barbara metro.
Located in a suburban pocket of Lompoc, the property benefits from a newer vintage relative to the neighborhood’s average (1996). For investors, 2011 construction typically reduces near-term capital exposure versus older assets while still allowing for targeted modernization over a long hold to sustain competitiveness.
Neighborhood-level occupancy is in the mid-90s (measured for the neighborhood, not the property), a signal of leasing stability that aligns with above-average performance nationally. Net operating income per unit for the neighborhood ranks competitively within the Santa Maria–Santa Barbara metro and tracks above national averages, suggesting historically healthy operating margins in comparable assets.
Retail density nearby is limited by national standards (few groceries, cafes, parks, and childcare within close range), which places more emphasis on in-unit quality and on-site conveniences for retention. Average school ratings in the neighborhood are below metro norms; family-oriented leasing strategies may need to focus on value, safety, and commute convenience to offset limited school quality signals.
Within a 3-mile radius, demographic data indicate a largely steady population with growth in households and smaller average household size over time, which typically expands the renter pool and supports occupancy stability. Renter-occupied housing within this 3-mile view is near parity with owner-occupied units, providing a broad tenant base for multifamily communities. Elevated home values in the area relative to national benchmarks point to a high-cost ownership market, which can sustain rental demand and support lease retention for well-maintained assets.
Compared with other neighborhoods in the Santa Maria–Santa Barbara metro (94 neighborhoods total), this area ranks favorably on crime, indicating lower incident levels than much of the region. Nationally, it sits in a higher safety percentile, placing it among stronger-performing neighborhoods by crime benchmarks.
Recent year-over-year trends show meaningful declines in both violent and property offense estimates, a constructive backdrop for resident retention and long-term leasing. These are neighborhood-level indicators and may not reflect block-specific conditions, but the directional improvement supports a stable operating outlook.
Regional employment is anchored in aerospace and defense, which can support workforce housing demand even with longer commutes. The following employer represents a significant node for renters who prioritize job stability over immediate proximity.
- Lockheed Martin Corporation — aerospace & defense (38.5 miles)
This 2011-built, 64-unit property offers a competitive position versus older neighborhood stock, with neighborhood occupancy (measured at the neighborhood level) in the mid-90s supporting stable cash flow potential. Elevated ownership costs in the area reinforce renter reliance on multifamily housing, while household growth within a 3-mile radius suggests a larger tenant base over the next several years. According to CRE market data from WDSuite, comparable assets in this neighborhood have produced above-metro operating performance, indicating room to sustain pricing with disciplined lease management.
Key considerations include limited nearby retail and below-average school ratings, which underscore the importance of on-site amenities, maintenance quality, and value-focused positioning. Over a long hold, targeted updates can preserve competitiveness and support retention as household sizes trend lower and the renter pool diversifies.
- Newer 2011 vintage reduces near-term capex versus older local stock, with value-add options for modernization over time.
- Neighborhood occupancy in the mid-90s (neighborhood metric) supports rent and cash flow stability.
- High-cost ownership market sustains renter demand and lease retention for well-maintained communities.
- Above-metro operating performance for comparable assets, per WDSuite data, supports disciplined pricing power.
- Risks: sparse nearby amenities and lower school ratings require strong on-site experience and management execution.