| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Fair |
| Demographics | 38th | Good |
| Amenities | 93rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1811 California Ave, Bakersfield, CA, 93304, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1979 |
| Units | 25 |
| Transaction Date | 2021-08-23 |
| Transaction Price | $3,400,000 |
| Buyer | GONZALEZ GUSTAVO |
| Seller | SEAGULL INVESTMENTS LLC |
1811 California Ave Bakersfield Multifamily Investment
This 25-unit property sits in a neighborhood ranking 11th among 247 metro neighborhoods with strong amenity access and high rental occupancy share. According to CRE market data from WDSuite, the area maintains 91.3% occupancy rates with 66.5% of housing units renter-occupied.
The property's neighborhood earned an A rating, ranking 11th among 247 metro neighborhoods with a 93rd national percentile for amenities. Built in 1979, the 25-unit property reflects older vintage than the neighborhood average construction year of 1946, presenting potential value-add opportunities through targeted renovations and modernization.
Neighborhood-level occupancy trends show 91.3% occupancy rates with 66.5% of housing units renter-occupied, ranking 21st nationally among metro neighborhoods for rental share. This high concentration of rental units supports sustained tenant demand and competitive leasing conditions. Median contract rents of $830 rank in the 41st national percentile, indicating affordable rental pricing that can attract and retain tenants.
Demographics within a 3-mile radius show 108,583 residents with projected population growth to 124,689 by 2028, representing a 14.8% increase that expands the potential tenant base. Household formation is expected to grow 44.6% over the same period, from 35,436 to 51,253 households, supporting multifamily demand. Median household income of $45,670 is forecast to rise to $62,724, improving tenant purchasing power while median rents are projected to increase from $876 to $1,131.
The neighborhood offers strong amenity density with 10.6 grocery stores per square mile (99th national percentile) and 4.5 pharmacies per square mile (99th national percentile), supporting tenant retention through convenient access to daily necessities. Restaurant and cafe density also ranks in the 91st national percentile, enhancing neighborhood appeal for renters.
Safety metrics show the neighborhood ranking 192nd among 247 metro neighborhoods for overall crime, placing it in the 27th national percentile. Property offense rates of 830.7 per 100,000 residents rank 191st locally and 26th nationally, while violent crime rates of 135.7 per 100,000 residents rank 205th among metro neighborhoods and 26th nationally.
Recent trends indicate property crime increased 25.7% year-over-year, ranking 128th among metro neighborhoods for this change, while violent crime rose 44.7%. These increases place the neighborhood below metro and national medians for crime trend performance, requiring attention to security measures and tenant screening protocols in property management planning.
Employment data for major employers in the immediate vicinity is not available in the current dataset. Investors should conduct independent research on local employment centers, major employers, and commute patterns to assess workforce housing demand and tenant stability in this Bakersfield submarket.
This 1979-vintage property offers value-add potential in a neighborhood with strong fundamentals, ranking 11th among 247 metro areas with exceptional amenity access. The high rental occupancy share of 66.5% and neighborhood-level occupancy of 91.3% demonstrate sustained rental demand, while projected demographic growth of 14.8% population increase and 44.6% household formation growth through 2028 supports long-term tenant base expansion.
Commercial real estate analysis from WDSuite indicates median rents remain affordable at $830, positioning below the 50th national percentile, which can support stable occupancy and tenant retention. The property's older vintage relative to neighborhood norms presents renovation upside to capture rent premiums while benefiting from the area's top-tier amenity density and growing renter pool.
- High rental demand with 66.5% of neighborhood housing units renter-occupied
- Strong demographic growth projections with 44.6% household increase through 2028
- Value-add potential through modernization of 1979 vintage property
- Exceptional amenity access ranking 93rd nationally supports tenant retention
- Risk consideration: Crime rates rank below metro median requiring enhanced security measures