| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Fair |
| Demographics | 38th | Good |
| Amenities | 93rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1827 California Ave, Bakersfield, CA, 93304, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1979 |
| Units | 20 |
| Transaction Date | 2021-08-23 |
| Transaction Price | $3,400,000 |
| Buyer | GONZALEZ GUSTAVO |
| Seller | SEAGULL INVESTMENTS LLC |
1827 California Ave Bakersfield 20-Unit Multifamily Opportunity
High renter concentration and strong daily-needs amenity access support steady leasing fundamentals, according to WDSuite’s CRE market data. Positioned for durable demand within Bakersfield’s inner-suburb fabric, with scope to enhance performance through targeted upgrades.
This Inner Suburb neighborhood carries an A rating and places in the top quartile among 247 Bakersfield metro neighborhoods, based on WDSuite’s data. The area’s housing stock skews older than the subject property; with a 1979 construction year, the asset is newer than the neighborhood average and can compete effectively against pre-war and mid-century inventory while still planning for system updates common to late-1970s buildings.
Tenant convenience is a strength: grocery and pharmacy density ranks among the highest locally, with broad restaurant, cafe, and park coverage as well. This concentration of daily services supports leasing velocity and retention by reducing commute friction for essentials and enhancing day-to-day livability.
Renter-occupied housing accounts for roughly two-thirds of units in the neighborhood, a nationally high renter concentration that signals depth in the tenant base for multifamily. Neighborhood occupancy trends sit near the national midrange; investors should underwrite steady performance with attention to leasing management and renewals. With a rent-to-income profile around the middle of national peers, pricing power exists but should be balanced against retention risk.
Within a 3-mile radius, demographics show modest population growth over the past five years and projections for further expansion by the middle of the decade, alongside an increase in household count and slightly smaller average household sizes. These trends point to a larger renter pool over time, which can support occupancy stability and absorption of value-add renovations.
Home values are lower than coastal California benchmarks, which can make ownership more attainable compared with high-cost metros. For multifamily investors, this means monitoring potential competition from entry-level ownership options while leveraging the area’s renter depth and convenience-driven appeal to support lease retention.
Safety metrics for the neighborhood are below the national median, indicating a higher-than-average incidence of reported offenses compared with neighborhoods nationwide. Relative to Bakersfield metro peers, the area trends below the median as well.
Recent year-over-year readings indicate increases in both property and violent offenses. Investors commonly address this through pragmatic measures such as lighting, access control, and partnership with professional security vendors, and should reflect operating assumptions accordingly in underwriting.
The 20-unit property at 1827 California Ave benefits from an A-rated Inner Suburb location with exceptional access to daily amenities and a nationally high renter concentration, supporting consistent tenant demand. According to CRE market data from WDSuite, neighborhood occupancy trends are around the national midrange, suggesting stable operations with emphasis on active leasing and renewals rather than outsized rent aggressiveness.
Built in 1979, the asset is newer than much of the surrounding housing stock, providing a competitive edge versus older product while presenting clear value-add and modernization opportunities (exteriors, interiors, and building systems) to drive rent lift and retention. Forward-looking 3-mile demographic projections indicate a growing household base, which can expand the renter pool and support absorption of renovations over a multi-year hold.
- A-rated Inner Suburb location with amenity density that supports leasing and retention
- High neighborhood renter concentration indicates depth of tenant demand
- 1979 vintage offers value-add and systems modernization potential versus older neighborhood stock
- 3-mile household growth outlook expands the renter pool, aiding occupancy stability over time
- Risks: below-median safety metrics, modest school ratings, and ownership competition warrant conservative underwriting and proactive management