| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Good |
| Demographics | 14th | Poor |
| Amenities | 13th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1015 O St, Bakersfield, CA, 93304, US |
| Region / Metro | Bakersfield |
| Year of Construction | 2004 |
| Units | 60 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1015 O St, Bakersfield Multifamily Investment
Stabilized renter demand in the surrounding neighborhood supports leasing consistency, according to WDSuite’s CRE market data. The property s 2004 vintage positions it competitively versus older local stock.
The immediate neighborhood around 1015 O St reports an occupancy rate measured for the neighborhood, not the property, that is competitive among Bakersfield neighborhoods (ranked 81 out of 247) and in the top quartile nationally, indicating steady unit absorption and potential support for rent collections. Renter-occupied unit concentration is high at the neighborhood level (83.2%), which typically points to a deep tenant base for multifamily owners.
Within a 3-mile radius, demographics indicate modest population growth in recent years and projections for further household expansion through 2028, which can enlarge the renter pool and support occupancy stability. Median household income has trended upward on a 5-year basis in this radius, and contract rents are projected to rise, suggesting gradual pricing power if operators manage affordability carefully.
The area s housing context shows elevated value-to-income levels compared with national norms, which can sustain reliance on rental housing and aid lease retention. At the same time, the rent-to-income profile in the neighborhood points to some affordability pressure, making resident retention and renewal management important operating priorities for investors.
Local amenity density is mixed: restaurants index relatively well versus the metro, while other everyday amenities such as groceries, pharmacies, parks, and cafes are limited in the immediate neighborhood. For investors, this dynamic can favor workforce-oriented renter demand but may require emphasizing on-site conveniences and services.
Vintage dynamics are notable: the average construction year in the neighborhood skews older (1960). A 2004 asset can therefore compete favorably on building systems and finishes relative to nearby stock, while still offering potential value-add through targeted modernization.
Neighborhood-level safety indicators track below national averages, with rankings toward the lower end among Bakersfield s 247 neighborhoods and national percentiles that reflect comparatively higher reported incidents. Recent year-over-year changes indicate volatility, so investors should underwrite prudent security measures and monitor submarket trends rather than relying on block-level assumptions.
From an investment perspective, this context often supports durable demand for secure, professionally managed properties while reinforcing the importance of lighting, access control, and partnerships with local community resources to support resident retention.
This 60-unit, 2004-vintage property offers a competitive position versus older neighborhood stock and is situated in a renter-heavy area where neighborhood occupancy (measured for the neighborhood) ranks 81 of 247 top quartile nationally supporting ongoing leasing stability. Within a 3-mile radius, population and household growth projections point to a larger tenant base over the medium term, while rising incomes and forecast rent levels suggest potential to maintain pricing power with careful affordability management.
According to CRE market data from WDSuite, the local amenity mix skews toward restaurants with fewer daily-needs options nearby, which places a premium on property-level conveniences and management quality. The ownership cost context and high neighborhood renter concentration reinforce multifamily demand, but operators should proactively address affordability pressure and neighborhood safety considerations in underwriting and asset plans.
- Renter-heavy neighborhood and competitive occupancy support steady tenant demand
- 2004 vintage offers operating advantages versus older local stock with targeted value-add potential
- 3-mile population and household growth expands the renter pool, aiding lease-up and retention
- Amenity-light surroundings elevate the importance of on-site services and professional management
- Risks: affordability pressure and below-average neighborhood safety warrant conservative underwriting