| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Poor |
| Demographics | 3rd | Poor |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2006 Kentucky St, Bakersfield, CA, 93305, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1985 |
| Units | 53 |
| Transaction Date | 2018-02-05 |
| Transaction Price | $3,550,000 |
| Buyer | CHROMIUM MANAGEMENT COMPANY LLC |
| Seller | CALI SIERRA PROPERTIES LLC |
2006 Kentucky St Bakersfield Multifamily Investment
Positioned in Bakersfield s urban core, this 53-unit asset offers exposure to a deep renter base and everyday retail access, according to WDSuite s CRE market data. Vintage 1985 construction provides a competitive edge versus older neighborhood stock while leaving room for targeted upgrades.
The property sits in an Urban Core setting with everyday convenience drivers that matter for retention. Grocery and pharmacy access are strengths grocery density ranks 5th among 247 Bakersfield neighborhoods and pharmacies rank 20th, both top quartile nationally—while restaurants trend similarly strong. By contrast, parks and cafes are limited locally (both near the bottom of metro rankings), which may modestly reduce lifestyle appeal versus amenity-rich submarkets.
Neighborhood occupancy is stable and has trended upward over the past five years, sitting around the national median (52nd percentile per WDSuite). The share of housing units that are renter-occupied is high at the neighborhood level (ranked 11th of 247), signaling a deep tenant pool and durable leasing fundamentals for multifamily.
Within a 3-mile radius, population and household counts have increased over the past five years, and WDSuite s forecasts point to further household growth alongside smaller average household sizes. For investors, that combination supports a broader tenant base and steady demand for rental units.
Home values in the neighborhood are lower than national norms (25th percentile), which can make ownership more accessible and introduce some competition with entry-level buying. Rents are still tethered to local incomes, and a rent-to-income ratio near 0.28 suggests affordability pressure that calls for disciplined lease management and value-focused amenities. Taken together—and paired with strong daily-needs retail access—this area offers practical, workforce-oriented fundamentals for commercial real estate analysis.
Safety indicators in this neighborhood trend below both metro and national medians. The neighborhood s crime rank sits in the lower half of Bakersfield (189th of 247), and national percentiles for both property and violent offenses are in the lower bands, indicating comparatively higher incident levels than many U.S. neighborhoods. Investors typically account for this with pragmatic security measures, lighting, access control, and tenant screening to help support leasing stability.
Built in 1985, this 53-unit asset is newer than much of the surrounding housing stock (average vintage leans older), helping it compete on fundamentals while still offering value-add potential via modernization of interiors and building systems. According to CRE market data from WDSuite, the neighborhood shows steady occupancy and a high share of renter-occupied units, which supports depth of demand for workforce apartments.
Everyday retail access is a clear locational strength, with strong proximity to groceries, pharmacies, and dining that benefits resident convenience and lease retention. Demographic trends within a 3-mile radius—modest population growth, increasing households, and smaller household sizes—point to a larger tenant base over time. Counterbalancing factors include below-median safety metrics and relatively accessible ownership costs locally, which can temper pricing power and require thoughtful positioning on value and amenities.
- 1985 vintage offers competitive positioning versus older neighborhood stock with targeted value-add upside
- Renter-occupied concentration supports a deep tenant pool and occupancy stability
- Strong daily-needs retail access (groceries, pharmacies, dining) aids retention and leasing
- 3-mile household growth and smaller household sizes expand the renter pool over time
- Risks: below-median safety metrics and competition from entry-level ownership may limit pricing power