| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Fair |
| Demographics | 25th | Fair |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1400 Valhalla Dr, Bakersfield, CA, 93309, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1977 |
| Units | 32 |
| Transaction Date | 2006-02-24 |
| Transaction Price | $5,000,000 |
| Buyer | MBS WOODLAND LLC |
| Seller | JH WEST LLC |
1400 Valhalla Dr Bakersfield Multifamily Investment
Neighborhood occupancy is stable with a high share of renter-occupied housing units, supporting steady leasing, according to WDSuite’s CRE market data.
Located in Bakersfield’s inner-suburban fabric, the neighborhood scores B+ and sits above the metro median (rank 66 of 247). Daily needs are well covered: grocery access is competitive among Bakersfield neighborhoods (top decile locally) and restaurants are similarly plentiful. Parks and pharmacies are also accessible. By contrast, cafés and childcare options are limited nearby, and the average school rating trends below national norms, which may influence tenant mix and marketing strategy.
For multifamily fundamentals, the neighborhood’s occupancy is above the national median, and the renter-occupied share of housing is among the highest both in the metro (rank 14 of 247) and nationally (top percentile). This points to a deep tenant base and supports lease-up and retention for workforce-oriented product. Rents benchmark in the mid-market locally, and rent-to-income levels suggest manageable affordability pressure, which can aid renewal stability while moderating outsized pricing power.
Within a 3-mile radius, demographics show a large resident base with modest recent growth in population and households and projections for further expansion by 2028. Forecast increases in households and incomes indicate a larger tenant pool over time and support for occupancy stability and measured rent growth. The current tenure split in the 3-mile area leans slightly renter, reinforcing demand depth for multifamily units.
The building’s 1977 vintage is slightly older than the neighborhood’s average stock (mid-1970s). Investors should plan for ongoing capital expenditures and consider targeted value-add or systems modernization to improve competitive positioning against newer product while capturing operational upside.
Safety metrics trend below both metro and national averages here. The neighborhood’s crime rank is toward the lower end among Bakersfield areas (218 of 247), and national comparisons place it in a lower safety percentile. Recent data also indicate an uptick in both property and violent offense rates over the last year. For investors, this typically argues for proactive security planning, strong on-site management, and thoughtful tenant screening to support resident satisfaction and retention.
While conditions can vary block to block and evolve over time, underwriting should incorporate comparative security expenditures and engagement with local resources. Monitoring trendlines is advisable, as improvements in surrounding neighborhoods can materially affect leasing velocity and renewal rates.
This 32-unit, 1977-vintage asset benefits from a renter-heavy neighborhood with above-median occupancy and strong daily-needs amenity coverage. The area’s grocery and restaurant density outperforms most Bakersfield neighborhoods, supporting livability and leasing. Within a 3-mile radius, population and household counts are expected to expand through 2028, implying a larger tenant base and steady demand for multifamily housing. According to CRE market data from WDSuite, neighborhood-level rents and rent-to-income dynamics point to manageable affordability pressure that can support renewal rates, with measured room for operational improvements.
Given its age relative to the local stock, the property is positioned for targeted value-add: improvements to interiors, building systems, and curb appeal can enhance competitiveness versus newer product. Key underwriting considerations include safety positioning and school quality trends, which may influence marketing approach, amenity programming, and expense planning.
- Renter-heavy neighborhood supports occupancy stability and retention
- Strong grocery and restaurant access enhances day-to-day livability and leasing
- 3-mile forecasts indicate growth in households and incomes, expanding the tenant base
- 1977 vintage offers value-add potential through renovations and system upgrades
- Risks: below-average safety metrics and lower school ratings may require enhanced management and expense planning