| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Poor |
| Demographics | 28th | Poor |
| Amenities | 28th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3101 W Avenue K4, Lancaster, CA, 93536, US |
| Region / Metro | Lancaster |
| Year of Construction | 1982 |
| Units | 120 |
| Transaction Date | 2016-11-17 |
| Transaction Price | $12,500,000 |
| Buyer | ANTELOPE VALLEY APARTMENT ASSOCIATES LP |
| Seller | AV APARTMENTS LP |
3101 W Avenue K4 Lancaster Multifamily Investment
This 120-unit property built in 1982 offers value-add potential in an inner suburb market with 92.3% neighborhood occupancy rates. CRE market data from WDSuite indicates strong rental demand fundamentals supported by aerospace employment proximity.
Located in Lancaster's inner suburban landscape, this neighborhood demonstrates competitive fundamentals for multifamily investors. With 92.3% occupancy rates and a rental share of 34.2% among housing units, the area maintains steady tenant demand. Demographics within a 3-mile radius show a population of 65,152 with household incomes averaging $109,936 and projected growth to 70,843 residents by 2028.
The 1982 construction year aligns with neighborhood averages, positioning this asset for potential value-add improvements while avoiding extensive capital expenditure requirements. Home values averaging $445,979 with 65% appreciation over five years sustain rental demand by limiting ownership accessibility for many households. Contract rents at $1,594 median reflect affordability relative to area incomes, supporting tenant retention and lease management strategies.
Amenity infrastructure shows mixed density, with strong park access ranking in the 93rd national percentile but limited retail and service establishments. The area's aerospace employment base provides workforce housing demand, while projected household growth of 35% through 2028 indicates expanding renter pools. School ratings average 1.0 out of 5, which may influence family tenant demographics but supports affordability for workforce housing strategies.
Safety metrics for this Lancaster neighborhood place it in the middle range among Los Angeles metro submarkets. Property offense rates rank 871st among 1,441 metro neighborhoods, indicating moderate property crime levels relative to the broader region. Violent crime rates show improvement trends with a 20.8% decrease over the past year, positioning the area in the 69th national percentile for crime reduction.
While crime levels remain above regional averages, the improving trajectory and suburban setting provide stability considerations for long-term investment planning. Investors should factor these metrics into tenant screening and property management strategies while monitoring ongoing trend improvements.
Major aerospace and corporate employers within commuting distance support steady workforce housing demand for this Lancaster area property.
- Lockheed Martin Aeronautics Co. — defense & aerospace (5.9 miles)
- Waste Management - Palmdale — waste services (7.6 miles)
- Boston Scientific Neuromodulation — medical technology (27.1 miles)
- Amerisourcebergen — pharmaceutical distribution (27.1 miles)
- Avery Dennison — materials & labeling HQ (35.7 miles)
This 120-unit Lancaster property presents value-add opportunities in a stabilizing market with 92.3% neighborhood occupancy and growing demographics. The 1982 vintage provides renovation upside potential while avoiding major structural capital needs. Projected population growth to 70,843 residents by 2028 and household formation expanding 35% supports long-term tenant demand, while median home values of $445,979 sustain rental preference among workforce populations.
According to multifamily property research from WDSuite, the area's aerospace employment concentration and improving safety trends create stability factors for institutional ownership. Contract rents at $1,594 median provide affordability cushion relative to area household incomes, supporting lease retention and gradual rent optimization strategies.
- Strong neighborhood occupancy at 92.3% indicates stable rental demand
- Value-add potential from 1982 construction with manageable capital requirements
- Aerospace employment base provides workforce housing demand anchor
- Projected 35% household growth through 2028 expands tenant pool
- Limited retail amenities may constrain tenant appeal and require management attention