| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 7th | Poor |
| Amenities | 7th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1741 Cheatham Ave, Bakersfield, CA, 93307, US |
| Region / Metro | Bakersfield |
| Year of Construction | 2005 |
| Units | 86 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1741 Cheatham Ave Bakersfield Multifamily Investment
Neighborhood occupancy is strong and renter demand is deep, according to WDSuite’s CRE market data, supporting stable leasing for an 86-unit asset built in 2005. The location’s high-cost ownership market further reinforces reliance on multifamily housing.
The property sits in a suburban Bakersfield neighborhood with historically high housing occupancy; the neighborhood’s occupancy level ranks in the top quartile among 247 Bakersfield neighborhoods and tracks in the upper decile nationally, based on WDSuite’s CRE market data. That backdrop typically supports steadier renewal volumes and fewer prolonged vacancies for well-managed assets.
Renter concentration is elevated: roughly four out of five housing units in the immediate neighborhood are renter-occupied, indicating a sizable tenant base for multifamily operators. Within a 3-mile radius, households have grown in recent years and are projected to continue expanding, which points to a larger tenant pool and supports occupancy stability even as new supply cycles in.
The 2005 vintage is newer than the neighborhood’s average construction year (1984). This positioning can enhance competitiveness versus older stock while still warranting targeted capital planning for mid-life systems and selective renovations to capture rent premiums.
Local amenity density is limited relative to the metro (amenities rank well below the Bakersfield median and in lower national percentiles), and average school ratings in the neighborhood are below broader benchmarks. Grocery access is present but not dense. Investors should underwrite convenience and transportation patterns accordingly and consider resident services that offset thinner retail and café options.
For context on affordability and demand, home values in the neighborhood sit well above many U.S. areas (upper national percentiles), which tends to sustain renter reliance on apartments and can aid pricing power. At the same time, rent-to-income levels indicate some affordability pressure locally, suggesting careful lease management and renewal pacing remain important.
Safety indicators are mixed relative to Bakersfield and national comparisons. Overall crime performance sits near the metro middle and roughly mid-tier nationally. Notably, violent offense rates show an improving trend year over year (a double-digit decline), while property offense rates have increased over the last year. Investors should view this as a neighborhood where trends are in transition and monitor management practices and resident engagement to support stability.
Interpreting ranks and percentiles: compared with 247 Bakersfield neighborhoods, this area performs around the metro median on composite crime measures, while national percentiles land near mid-range for violent offenses and somewhat weaker for property offenses. Use ongoing comps and police blotter trends during diligence to calibrate expectations rather than relying on block-level assumptions.
The area draws from broader Bakersfield employment centers that support workforce housing demand and commute convenience for residents.
This 86-unit, 2005-vintage asset benefits from a neighborhood with top-quartile occupancy performance in the Bakersfield metro and strong renter concentration, supporting stable leasing and renewal potential. Population and household growth within a 3-mile radius point to a larger tenant base ahead, while elevated home values in the neighborhood reinforce sustained reliance on rental housing. According to CRE market data from WDSuite, these dynamics have historically translated into durable demand even where amenity density is thinner.
The property’s newer vintage relative to local stock enhances competitive positioning versus 1980s-era assets, with scope for targeted value-add through interior updates and systems planning. Underwriting should reflect the neighborhood’s mixed safety signals and some affordability pressure on renters, balancing rent growth expectations with retention strategies.
- High neighborhood occupancy and deep renter base support leasing stability
- 2005 construction offers competitive edge versus older metro stock with selective value-add upside
- 3-mile population and household growth expand the tenant pool, aiding absorption
- Elevated ownership costs in the neighborhood reinforce multifamily demand and pricing power
- Risks: thinner amenity density, mixed safety trends, and renter affordability require prudent lease management