| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Fair |
| Demographics | 58th | Good |
| Amenities | 38th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 300 Burton Mesa Blvd, Lompoc, CA, 93436, US |
| Region / Metro | Lompoc |
| Year of Construction | 2003 |
| Units | 101 |
| Transaction Date | 2011-02-01 |
| Transaction Price | $11,500,000 |
| Buyer | Heritage Villas LP |
| Seller | Valley Oaks Financial Corp |
300 Burton Mesa Blvd Lompoc Multifamily Investment
This 101-unit property built in 2003 benefits from neighborhood-level occupancy rates of 95.1% and strong median household incomes exceeding $111,000 according to CRE market data from WDSuite.
The property sits in a suburban neighborhood rated B overall, ranking 42nd among 94 metro neighborhoods in the Santa Maria-Santa Barbara region. Built in 2003, this asset aligns with the neighborhood's average construction year of 1981, positioning it as a relatively newer vintage that may require less immediate capital expenditure compared to older properties in the area.
Neighborhood-level occupancy rates of 95.1% rank in the 72nd national percentile, indicating stable rental demand despite a modest 3.1% decline over five years. The local rental market shows resilience with median contract rents of $2,106 and 44% growth over five years, though rent-to-income ratios at 24% suggest manageable affordability pressure for tenants.
Demographics within a 3-mile radius show a mature market with median household incomes of $99,304 and 71% owner-occupied housing units. The 29% renter-occupied share provides a focused tenant base, while projected household growth of 34% through 2028 could expand the renter pool and support occupancy stability.
Home values averaging $580,483 in the 88th national percentile create elevated ownership costs that may sustain rental demand and reinforce renter reliance on multifamily housing. The neighborhood offers moderate amenity density with childcare facilities and parks ranking above metro median, supporting tenant retention appeal.
The neighborhood demonstrates strong safety metrics with violent crime rates ranking 4th lowest among 94 metro neighborhoods, placing it in the 93rd national percentile for safety. Property crime rates rank 22nd among metro neighborhoods in the 79th national percentile, indicating above-average security conditions compared to neighborhoods nationwide.
While property crime rates experienced a significant one-year increase, this represents a statistical anomaly from historically low baseline levels. The overall crime ranking of 31st among 94 neighborhoods maintains the area in the 57th national percentile, reflecting competitive safety conditions within the broader Santa Maria-Santa Barbara market.
The employment base draws from aerospace and defense sector anchors that provide workforce housing demand for the broader region.
- Lockheed Martin Corporation — aerospace & defense (39.2 miles)
This 101-unit property offers stable fundamentals anchored by neighborhood-level occupancy rates of 95.1% and strong household incomes exceeding $111,000. The 2003 construction year positions the asset as newer vintage requiring potentially lower near-term capital expenditure while elevated home values averaging $580,483 sustain rental demand by reinforcing renter reliance on multifamily housing.
Demographic projections show household growth of 34% through 2028 within a 3-mile radius, expanding the potential tenant base while maintaining manageable rent-to-income ratios at 24%. According to multifamily property research from WDSuite, the neighborhood ranks in the top quartile nationally for safety metrics and maintains above-metro-median performance across key livability factors.
- Neighborhood occupancy rates of 95.1% indicate stable rental demand
- Median household incomes of $111,000 support rent collection reliability
- 2003 construction vintage may require lower immediate capital expenditure
- Projected 34% household growth through 2028 could expand tenant base
- Risk: Limited employment diversity with aerospace sector concentration