| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Fair |
| Demographics | 2nd | Poor |
| Amenities | 24th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 128 Monroe St, Arvin, CA, 93203, US |
| Region / Metro | Arvin |
| Year of Construction | 1988 |
| Units | 36 |
| Transaction Date | 2011-12-17 |
| Transaction Price | $392,000 |
| Buyer | KC INVESTMENT GROUP |
| Seller | ARVIN INVESTMENT GROUP |
128 Monroe St Arvin Multifamily Investment
This 36-unit property built in 1988 serves a high-rental demand neighborhood where 61% of housing units are renter-occupied, ranking in the top 6% nationally for rental concentration according to CRE market data from WDSuite.
The property sits in an inner suburb neighborhood of Arvin within the Bakersfield metro, ranking 208th among 247 metro neighborhoods with a C- overall rating. Built in 1988, the property is newer than the neighborhood average construction year of 1965, potentially reducing near-term capital expenditure needs compared to surrounding stock.
Rental demand fundamentals appear strong, with 61% of neighborhood housing units occupied by renters—ranking in the top 6% nationally for rental concentration. Neighborhood-level occupancy stands at 91.3%, near the metro median. Median contract rents of $821 have grown 18% over five years, though this remains below regional benchmarks.
Demographics within a 3-mile radius show a population of approximately 19,800 with large household sizes averaging 4.3 people. The area has experienced 29% population growth over five years, with forecasts projecting continued household formation through 2028. Median household income of $49,246 has grown 41% over five years, supporting rent growth potential, though current rent-to-income ratios suggest affordability pressures that require careful lease management.
The neighborhood offers limited commercial amenities, ranking in the bottom quartile nationally for restaurants, cafes, and childcare facilities. However, grocery store access ranks above metro median, and park density places in the top 21% nationally, providing basic tenant amenities for family-oriented renters.
Property crime rates in the neighborhood are estimated at 497 incidents per 100,000 residents, ranking 158th among 247 metro neighborhoods and placing in the 37th percentile nationally. Notably, property crime has declined 39% over the past year, ranking in the top 25% of metro neighborhoods for crime reduction trends.
Violent crime rates are lower at 72 incidents per 100,000 residents, also ranking in the 37th percentile nationally. While crime levels remain above some metro areas, the significant recent improvement in property crime trends suggests positive momentum that could support tenant retention and leasing stability.
Limited major employer data is available for the immediate Arvin area, reflecting the community's agricultural and small business employment base.
- Local agricultural operations support seasonal and year-round workforce housing demand in the region
- Bakersfield metro employment centers provide commuter opportunities within the broader labor market
This 36-unit property benefits from strong rental market fundamentals in a neighborhood where renter-occupied units represent 61% of housing stock—ranking in the top 6% nationally for rental concentration. The 1988 construction year positions the asset newer than neighborhood averages, potentially reducing immediate capital expenditure needs while demographic trends show 29% population growth over five years within a 3-mile radius, supporting tenant demand.
Multifamily property research indicates neighborhood-level occupancy at 91.3% with declining crime trends, though investors should monitor affordability pressures given current rent-to-income ratios and limited commercial amenities that may affect tenant retention and lease-up velocity.
- High rental demand with 61% renter-occupied housing units, top 6% nationally
- Newer vintage (1988) relative to neighborhood average reduces near-term capex risk
- Growing population base with 29% increase over five years supports tenant demand
- Property crime declining 39% annually, ranking top 25% for improvement trends
- Monitor affordability pressures and limited amenities that may impact retention