| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Poor |
| Demographics | 15th | Poor |
| Amenities | 50th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 37929 35th St E, Palmdale, CA, 93550, US |
| Region / Metro | Palmdale |
| Year of Construction | 1983 |
| Units | 48 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
37929 35th St E Palmdale Multifamily Investment
Neighborhood occupancy is reported near the mid-90s, supporting income stability for a 48-unit asset in this Inner Suburb, according to WDSuite’s CRE market data. With renter demand balanced by a primarily owner-occupied area, operations can emphasize retention and steady leasing over rapid lease-up.
Situated in Palmdale within the Los Angeles metro, the neighborhood posts an occupancy rate of 94.9% (competitive nationally at the 70th percentile), indicating a relatively stable leasing backdrop for multifamily. The area’s renter-occupied share is about 30% of housing units, which points to a modest but dependable tenant base that can support consistent absorption without oversupply signals.
Local amenity density is mixed. Cafes outperform many peers (top quartile nationally), while grocery access tracks above national mid-range. Parks and pharmacies are limited nearby, so residents may rely on broader retail corridors for daily needs. Schools rate below national medians, a consideration for family-oriented leasing strategies.
Property vintage is 1983, newer than the neighborhood’s average construction year of 1965. This relative youth can provide a competitive edge versus older stock while still leaving room for targeted modernization (systems, exteriors, and unit finishes) to enhance rent positioning and reduce near-term CapEx surprises.
Demographic statistics aggregated within a 3-mile radius show population and household growth over the last five years, with further increases forecast. This expansion, coupled with rising median incomes and contract rents, suggests a gradually enlarging tenant base that can support occupancy stability and measured rent optimization.
Home values in the neighborhood are elevated for the subregion, and rent-to-income sits around 0.23. For investors, this combination typically sustains rental demand while keeping affordability pressure manageable enough to support retention with sensible lease management.
Safety indicators are mixed. The neighborhood ranks 1038 out of 1,441 Los Angeles metro neighborhoods on crime, and overall safety sits below the national median (around the 40th percentile). Recent trends diverge: property offense estimates have improved year over year, while violent offense estimates have risen. Investors should underwrite prudent security measures and monitor trend direction rather than relying on short-term fluctuations.
Proximity to major employers supports renter demand through commute convenience and a diversified wage base. Key nearby employers include Lockheed Martin Aeronautics, Waste Management, AmerisourceBergen, Charter Communications, and Avery Dennison.
- Lockheed Martin Aeronautics Co. — aerospace & defense (3.8 miles)
- Waste Management - Palmdale — environmental services (4.6 miles)
- AmerisourceBergen — pharmaceutical distribution (30.1 miles)
- Charter Communications — telecommunications (30.2 miles)
- Avery Dennison — materials manufacturing (30.6 miles) — HQ
This 48-unit, 1983-vintage asset benefits from a neighborhood occupancy rate near the mid-90s and a renter-occupied housing share around 30%, indicating a steady, serviceable tenant pool rather than transient demand. According to CRE market data from WDSuite, amenity access is mixed but sufficient for daily needs, and the property’s relative vintage advantage versus older local stock can be leveraged through targeted renovations to improve competitive positioning.
Within a 3-mile radius, recent and forecast growth in population, households, and incomes points to an expanding renter base that supports leasing stability. Elevated ownership costs in the subregion, paired with a moderate rent-to-income profile, reinforce reliance on multifamily housing while preserving room for disciplined pricing without outsized retention risk. Investors should balance these fundamentals against below-median school ratings and mixed safety trends by budgeting for security, resident experience, and value-add improvements that deepen demand.
- Stable backdrop: neighborhood occupancy near mid-90s supports consistent cash flow
- 1983 vintage offers value-add potential versus older neighborhood stock
- 3-mile population and household growth expand the renter pool and support leasing
- Elevated ownership costs and moderate rent-to-income support rental demand and retention
- Risks: below-median school ratings and mixed safety trends warrant prudent underwriting and resident experience investments