| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Poor |
| Demographics | 11th | Poor |
| Amenities | 35th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 702 Meyer St, Arvin, CA, 93203, US |
| Region / Metro | Arvin |
| Year of Construction | 1972 |
| Units | 60 |
| Transaction Date | 2010-01-26 |
| Transaction Price | $1,200,000 |
| Buyer | KUMAR SUNIL |
| Seller | BEAR MOUNTAIN VENTURES LLC |
702 Meyer St, Arvin CA 60-Unit Multifamily
Neighborhood occupancy is strong and renter demand is durable for workforce housing in Arvin, according to WDSuite’s CRE market data, supporting stable operations for a 60-unit asset.
Situated in Arvin within the Bakersfield metro, the neighborhood posts occupancy that is competitive among 247 Bakersfield neighborhoods and in the top quintile nationally, based on CRE market data from WDSuite. A high renter-occupied housing share (top quartile locally) signals a deep tenant base that can support leasing stability for multifamily.
Everyday amenities are modest: restaurants and grocery access rank around the middle of the metro distribution, while pharmacies score above average; cafes and parks are limited. For investors, this points to a primarily residential, value-oriented submarket where demand is driven more by housing needs and commute patterns than lifestyle retail concentration.
Home values sit below national medians, which generally sustains renter reliance on multifamily housing and can aid retention. Rent-to-income levels are below national midpoints, suggesting manageable affordability pressure and room for disciplined rent management rather than outsized pricing power.
Within a 3-mile radius, recent population and household growth have expanded the local renter pool, and forecasts show households continuing to rise even as total population trends level off, implying smaller household sizes and steady demand for rental units. The property’s 1972 vintage is newer than the area’s older housing stock, offering relative competitiveness versus mid-century buildings while still warranting capital planning for aging systems and value-add upgrades.
Safety indicators are mixed but improving. The neighborhood ranks competitive among Bakersfield peers and near the national middle for overall crime. Property-related incidents benchmark below national medians but have shown a meaningful year-over-year decline, while violent-offense measures track closer to national midpoints, according to WDSuite’s CRE market data.
For investors, the takeaway is that safety trends are not an outlier for the region and have recently moved in a favorable direction. As always, underwriting should account for submarket-level patterns and property-specific measures (lighting, access control, and management presence) rather than block-level assumptions.
This 60-unit, 1972-vintage asset benefits from a renter-driven neighborhood with occupancy that is competitive across the Bakersfield metro and above many U.S. neighborhoods. The submarket’s lower ownership costs and manageable rent-to-income levels support tenant retention, while larger average household sizes and recent household growth within a 3-mile radius point to a stable renter base. According to CRE market data from WDSuite, the neighborhood’s renter concentration is among the highest locally, reinforcing demand depth for multifamily.
Relative to older mid-century stock nearby, the asset’s vintage can be positioned competitively with targeted system upgrades and common-area improvements. Amenity density is modest, so performance will be driven by affordability, unit livability, and effective onsite management rather than lifestyle retail. Net effect: a pragmatic, workforce-oriented thesis focused on occupancy stability and measured rent growth, with upside from value-add execution.
- Renter-heavy neighborhood and strong occupancy support stable leasing
- 1972 vintage offers competitive positioning versus older local stock with targeted capex
- Household growth within 3 miles expands the tenant base and supports retention
- Lower ownership costs in the area reinforce reliance on multifamily housing
- Risk: Limited amenity density and mixed school ratings may temper premium rent potential