| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 7th | Poor |
| Amenities | 7th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1331 S Dr Martin Luther King Jr Blvd, Bakersfield, CA, 93307, US |
| Region / Metro | Bakersfield |
| Year of Construction | 2004 |
| Units | 86 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1331 S Dr Martin Luther King Jr Blvd Multifamily Investment
Neighborhood occupancy is notably high, supporting tenant retention and steady leasing, according to WDSuite s CRE market data. A strong renter-occupied share in the immediate area further indicates depth of demand for multifamily units.
This Bakersfield suburban location shows durable renter demand signals: the neighborhood s occupancy ranks 48 out of 247 in the metro, indicating it is competitive among Bakersfield neighborhoods and in the top quartile nationally by percentile. A high share of housing units are renter-occupied (77.7% at the neighborhood level), pointing to a large tenant base that can support stabilized operations for multifamily assets.
Construction vintage in the area skews older than the subject property (neighborhood average year is 1984 versus the property s 2004). For investors, this typically means a 2004 asset can compete well against older stock, though selective renovations and system updates may still be part of capital planning. Median home values in the neighborhood sit in the 82nd percentile nationally, a high-cost ownership context that can reinforce reliance on rental housing and support pricing power, provided rent-to-income levels are managed thoughtfully.
Within a 3-mile radius, demographics indicate a growing renter pool: recent years show population and household growth, with forecasts calling for further expansion through 2028. Larger household counts and modestly smaller projected household sizes together imply more households entering the market, which supports occupancy stability and future leasing activity. These trends align with the direction indicated by WDSuite s commercial real estate analysis.
Amenity density immediately around the neighborhood is limited (very low counts of cafes, restaurants, parks, and pharmacies), and average school ratings score in the lower tiers locally. For multifamily, this suggests positioning toward workforce housing and value-sensitive renters, with onsite features, management quality, and commute connectivity playing a bigger role in retention than neighborhood retail depth.
Safety indicators are mixed in this neighborhood relative to the Bakersfield metro. The area s overall crime rank sits around the metro median (118 out of 247 neighborhoods), suggesting conditions that are neither among the strongest nor the weakest locally. Nationally, the neighborhood s safety percentiles cluster near the middle for violent offenses, while property offense measures trend weaker than average.
Recent momentum shows a constructive sign: estimated violent offense rates improved year over year (a decline in the latest reading), which places the neighborhood above many peers on improvement trends. At the same time, property offenses rose over the same period. Investors should underwrite with pragmatic assumptions, weigh security design and lighting, and consider management practices that support resident comfort and retention.
Built in 2004 with 86 units, this asset competes favorably against an area where the average building vintage is older, offering a relative edge versus legacy stock while leaving room for selective upgrades. Neighborhood-level occupancy ranks competitively within Bakersfield and tests in the top quartile nationally by percentile, supporting expectations for stable leasing. According to CRE market data from WDSuite, the surrounding neighborhood also shows a high renter-occupied share, signaling a deep tenant base.
A high-cost ownership backdrop (home values well above national midpoints) underpins renter reliance on multifamily, though rent-to-income levels call for attentive lease management. Near-term strategy can focus on steady operations and targeted value-add to enhance durability, while 3-mile radius projections for population and household growth point to an expanding renter pool that can sustain demand over time.
- Competitive positioning vs. older neighborhood stock; 2004 vintage supports leasing and rent attainment.
- Neighborhood occupancy is competitive in the metro and strong nationally, reinforcing stability.
- High renter-occupied share and growing 3-mile household base indicate depth of demand.
- Ownership costs skew high locally, supporting renter reliance and pricing power when managed well.
- Risks: limited nearby amenities, lower school ratings, and mixed safety/property crime trends warrant prudent underwriting and active management.