| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Fair |
| Demographics | 4th | Poor |
| Amenities | 25th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1601 Lotus Ln, Bakersfield, CA, 93307, US |
| Region / Metro | Bakersfield |
| Year of Construction | 2009 |
| Units | 73 |
| Transaction Date | 2025-06-17 |
| Transaction Price | $5,600,000 |
| Buyer | KING SQUARE APARTMENTS LP |
| Seller | KSA PARTNERS |
1601 Lotus Ln Bakersfield Multifamily Investment
Neighborhood fundamentals point to steady renter demand with a high share of renter-occupied housing and occupancy near the metro median, according to WDSuite’s CRE market data. The property’s location in an inner-suburb pocket offers practical access to daily needs and aligns with workforce housing dynamics.
Located in Bakersfield s inner-suburban fabric, the area balances workforce proximity with everyday convenience. Grocery access is a relative strength versus many peer neighborhoods (competitive nationally), while cafes, parks, and pharmacies are thinner locally. For investors, this mix suggests practical livability anchors for retention, with some amenity gaps that may reduce lifestyle-driven premiums.
Neighborhood occupancy is around the metro median based on WDSuite s CRE market data, and the local renter-occupied share is high, indicating a deep tenant base that supports leasing stability. Compared with Bakersfield neighborhoods, the area s housing metrics are competitive in the middle of the pack, which typically points to balanced leasing conditions rather than sharp volatility.
Construction in the immediate area skews older on average, while this property s 2009 vintage positions it as newer relative to nearby stock. That tends to enhance competitive appeal and limit near-term capital needs versus older assets, though investors should still plan for system updates and selective modernization over a long hold.
Within a 3-mile radius, population and household counts have grown in recent years and are projected to continue through 2028, expanding the local renter pool. Median home values sit below many coastal California markets, but the value-to-income relationship is elevated locally; in practice, that supports renter reliance on multifamily housing. Rents trend modest in this part of Bakersfield, helping sustain demand, while rent-to-income levels warrant careful lease management to balance pricing power and retention.
Safety indicators for the neighborhood track below national averages and are below the metro median among 247 Bakersfield neighborhoods, based on WDSuite s CRE market data. In practical terms, investors should underwrite for enhanced property-level security and consider tenant communication and lighting/camera upgrades as part of operating plans.
Recent year-over-year trends point to higher reported incident rates relative to prior periods. While block-level conditions can vary, a conservative approach to loss assumptions, insurance, and preventative measures is prudent when evaluating this location versus other Bakersfield sub-areas.
The submarket serves a broad workforce tenant base with commutable access to Bakersfield s employment centers. Specific nearby corporate office distances were not available in the current dataset.
This 2009-vintage, 73-unit asset offers a newer competitive profile amid an older housing landscape, which typically supports leasing velocity and moderates near-term capex versus legacy stock. The surrounding neighborhood shows occupancy near the metro median and a high concentration of renter-occupied units, reinforcing demand depth for multifamily. Based on commercial real estate analysis from WDSuite, local homeownership remains a higher-cost path relative to incomes, which helps sustain reliance on rentals and underpins steady absorption in workforce segments.
Within a 3-mile radius, population and households have grown and are projected to expand further, indicating a larger tenant base over time. Amenity access skews toward daily needs like groceries, though limited parks and cafes suggest constrained premium potential. Safety trends are weaker than metro averages, so underwriting should incorporate security upgrades and conservative loss assumptions, but the combination of renter demand, newer vintage, and practical location supports a durable long-term thesis.
- Newer 2009 vintage versus older local stock enhances competitiveness and reduces near-term capex pressure.
- High renter-occupied share indicates a deep tenant base supporting occupancy stability.
- Workforce location with solid grocery access supports day-to-day livability and retention.
- 3-mile population and household growth expand the renter pool, aiding leasing over time.
- Risks: below-median safety and limited lifestyle amenities; plan for security investments and disciplined rent management.