| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 7th | Poor |
| Amenities | 7th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1120 S Martin Luther King Jr Blvd, Bakersfield, CA, 93307, US |
| Region / Metro | Bakersfield |
| Year of Construction | 2005 |
| Units | 21 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1120 S Martin Luther King Jr Blvd 21-Unit Multifamily Investment
Neighborhood occupancy remains elevated and renter concentration is high—supporting stable demand—according to WDSuite’s CRE market data. These indicators reflect neighborhood conditions rather than performance at the property level.
This Bakersfield location shows strong renter fundamentals: neighborhood occupancy is 98.3%, placing it in the top quartile nationally and above the metro median among 247 Bakersfield neighborhoods. The renter-occupied share of housing units is 77.7%, indicating a deep tenant base for multifamily operators (tenure metric reflects neighborhood housing units, not the subject property).
The property’s 2005 vintage is newer than the neighborhood’s average construction year (1984). For investors, mid-2000s construction can offer relative competitiveness versus older stock, while still planning for aging systems and selective modernization to support retention and rentability.
Within a 3-mile radius, population and household counts have grown in recent years, with additional growth projected, supporting a larger tenant base over time. Median contract rents in the area remain accessible compared with many California metros, while a high-cost ownership landscape locally (elevated home values relative to incomes) tends to reinforce reliance on rental housing—factors that can aid lease-up and retention.
Local amenities are thinner than core infill submarkets (limited cafes, parks, and childcare options), and average school ratings in the neighborhood track below national norms. Operators should prioritize on-site conveniences and service quality to offset amenity gaps and support resident satisfaction. Even so, housing indicators score above national averages, and occupancy remains competitive among Bakersfield neighborhoods, according to WDSuite’s commercial real estate analysis.
Neighborhood safety indicators are mixed. Overall crime levels sit around the middle of Bakersfield’s distribution, roughly mid-pack among 247 metro neighborhoods. Compared nationally, the area trends near the middle for violent offenses, with a recent year-over-year decline in estimated violent incidents—a constructive directional signal.
Property offenses compare less favorably versus national norms, so operators may consider practical measures such as lighting, access control, and community engagement to support resident comfort. These references reflect neighborhood-level trends rather than conditions specific to the asset.
This 21-unit asset benefits from a renter-oriented neighborhood where occupancy is strong and the renter-occupied share is elevated, supporting depth of demand and potential leasing stability. The 2005 vintage positions the property competitively versus older area stock, while planning for targeted updates can help sustain performance. High local ownership costs relative to incomes encourage continued reliance on rental housing, which can underpin retention and pricing power when managed carefully, based on CRE market data from WDSuite.
Near-term considerations include thinner nearby amenities, below-average school ratings, and measured affordability pressures (rent-to-income levels) that call for disciplined lease management. Demographic trends within a 3-mile radius point to continued population and household growth, supporting a broader tenant pool over the medium term.
- Strong neighborhood occupancy and high renter concentration support demand depth
- 2005 vintage offers competitive positioning versus older area stock with selective value-add potential
- Ownership costs remain elevated locally, reinforcing sustained reliance on rental housing
- Growing 3-mile population and households expand the prospective renter pool over time
- Risks: thinner local amenities, lower school ratings, and affordability pressure require attentive operations