| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Fair |
| Demographics | 20th | Poor |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 625 N F St, Lompoc, CA, 93436, US |
| Region / Metro | Lompoc |
| Year of Construction | 1985 |
| Units | 24 |
| Transaction Date | 2014-10-29 |
| Transaction Price | $2,519,620 |
| Buyer | Valley Crest Apartment LLC |
| Seller | The Hilley Family Trust |
621 N F St Lompoc Multifamily Investment
Neighborhood occupancy is the highest in the metro, suggesting durable renter demand around the asset, according to WDSuite’s CRE market data. For investors, that stability can support consistent leasing even as pricing adjusts with broader market cycles.
Located in Lompoc’s Urban Core, the surrounding neighborhood posts the highest occupancy among 94 metro neighborhoods, indicating tight conditions that can support rent collections and leasing continuity at the submarket level. These are neighborhood metrics, not property performance, and they reflect current strength rather than a guarantee of future results.
Amenity access is a relative strength: cafes rank competitive among Santa Maria–Santa Barbara neighborhoods (2nd of 94) and restaurants and groceries are above the metro median, with parks also testing the top quartile nationally. Investors should note amenity gaps in childcare and pharmacies within the immediate neighborhood, which may modestly affect family-oriented tenant appeal but do not negate the broader convenience profile.
The 1985 vintage positions the property newer than the neighborhood’s average construction year (1968). That can aid competitive positioning versus older stock, while still warranting capital planning for mid-life systems updates or unit modernization to capture value-add upside and support retention.
Tenure dynamics indicate depth: the neighborhood’s share of renter-occupied housing units is elevated relative to metro peers (above the metro median and high nationally), pointing to a sizable tenant base that can support demand across cycles. Within a 3-mile radius, demographics show modest recent population and household growth with a projected increase in households and a gradual decline in average household size, signaling a larger renter pool over time and potential support for occupancy stability.
Homeownership costs in the neighborhood are elevated relative to incomes (high national percentile for value-to-income), which tends to reinforce reliance on multifamily options and can aid lease retention. Neighborhood contract rents have risen over the last five years and are projected to continue increasing, per WDSuite’s commercial real estate analysis, which supports a constructive outlook while still requiring prudent affordability and lease management.
Safety indicators are mixed and vary by offense type. Compared with neighborhoods nationwide, violent offense levels are around the middle of the pack and have improved year over year (a favorable trend), while property offense measures sit in a lower national percentile, indicating comparatively higher property crime. Within the Santa Maria–Santa Barbara metro (94 neighborhoods), the neighborhood’s overall crime rank places it below the metro median for safety, so operators may emphasize lighting, access control, and coordination with local resources as standard risk management.
These are neighborhood-level readings, not block-specific assessments. Investors should underwrite with local management practices and recent trend data in mind, noting the improvement trajectory in violent offenses alongside persistently elevated property offense readings.
Regional employment is supported in part by defense and aerospace activity, which can contribute to steady renter demand for workforce housing tied to commuting patterns. The list below reflects a notable regional employer relevant to the area’s renter base.
- Lockheed Martin Corporation — defense & aerospace (36.8 miles)
This 24-unit, 1985-vintage asset benefits from a neighborhood with metro-leading occupancy and strong day-to-day convenience, supporting leasing durability. The property’s vintage is newer than the neighborhood average, offering potential to outperform older comparables with targeted renovations and systems updates. Within a 3-mile radius, modest population growth, a projected increase in households, and gradual household size compression point to a larger tenant base over time, which can support occupancy stability and retention.
Elevated ownership costs in the neighborhood sustain reliance on rentals, while neighborhood rents have trended upward, according to CRE market data from WDSuite. The investment case is centered on stable renter demand, value-add upside through thoughtful capex, and disciplined affordability management to balance pricing power with retention. Key risks include property-crime exposure at the neighborhood level and amenity gaps in childcare and pharmacies, both of which can be mitigated with operational best practices and targeted resident services.
- Metro-leading neighborhood occupancy supports leasing stability
- 1985 vintage offers value-add through unit and systems modernization
- 3-mile demographics point to renter pool expansion and retention support
- Elevated ownership costs reinforce multifamily demand and pricing discipline
- Risks: higher neighborhood property-crime readings and select amenity gaps