| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Fair |
| Demographics | 4th | Poor |
| Amenities | 25th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2010 Larcus Ave, Bakersfield, CA, 93307, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1985 |
| Units | 48 |
| Transaction Date | 2014-04-23 |
| Transaction Price | $1,775,000 |
| Buyer | FLPLARCUS LLC |
| Seller | 2010 LARCUS AVE LLC |
2010 Larcus Ave Bakersfield Multifamily Opportunity
Neighborhood renter concentration is elevated, supporting a deeper tenant base for a 48-unit asset, based on CRE market data from WDSuite.
This Inner Suburb location in Bakersfield offers practical fundamentals for workforce housing. Grocery access is relatively strong locally—competitive among Bakersfield neighborhoods and in the top quartile nationally for grocery density—while restaurants are competitive within the metro. Other amenities like parks, cafes, and pharmacies are limited nearby, so residents rely more on core daily needs than lifestyle retail.
The asset’s 1985 construction is newer than the neighborhood’s average vintage, which skews toward the 1960s. That positioning can help compete against older stock, though investors should budget for modernization of aging systems and common areas to sustain leasing velocity.
Renter-occupied housing is prevalent in this neighborhood (high renter concentration relative to the metro), which indicates a broad tenant pool for multifamily. Neighborhood occupancy is around the high-80s, and according to WDSuite’s CRE market data sits modestly below national midpoints, suggesting stable leasing with room to improve via operations and product differentiation.
Within a 3-mile radius, population and households have grown in recent years, with households expanding faster than population—pointing to smaller household sizes and a gradual expansion of the renter pool. This growth supports demand for rental units and can aid occupancy stability and lease-up for renovated product.
Home values in the area are lower than many coastal California markets and the value-to-income ratio sits above national midpoints. In practice, the ownership market remains more accessible than high-cost metros, which can introduce some competition with entry-level ownership; however, rent levels and a rent-to-income profile near the neighborhood median support retention for appropriately priced Class B/C units.
Safety indicators are mixed when viewed against national patterns. The neighborhood sits below the national safety midpoint (around the 45th percentile nationally), according to WDSuite’s CRE market data, indicating crime levels somewhat higher than typical U.S. neighborhoods. Within the past year, violent incident rates show improvement, while property incidents have ticked up—an important consideration for security measures and insurance underwriting.
Investors should evaluate recent, property-level trends and engage local management practices (lighting, access control, partnerships with community resources) to support resident experience and mitigate loss exposure. Avoid relying on block-level assumptions; conditions can vary within short distances.
The area functions as a workforce housing node with access to Bakersfield’s broader employment base across logistics, healthcare, education, and public services. Proximity supports renter demand via manageable commutes, though specific large employers immediately adjacent to the property are limited.
2010 Larcus Ave offers a 1985-vintage, 48-unit footprint positioned in a renter-heavy Bakersfield neighborhood. Renter-occupied share is high locally, supporting a wider tenant base. Neighborhood occupancy trends hover near the upper-80s, and according to CRE market data from WDSuite, performance trails national midpoints—creating room for operational lift through targeted renovations and leasing strategy.
Within a 3-mile radius, modest population growth and a faster increase in households indicate a gradually expanding renter pool, which can support absorption and retention. Ownership costs remain comparatively accessible for the region, so pricing discipline is important; however, this submarket’s workforce orientation and solid grocery access underpin steady day-to-day livability that can sustain demand for well-managed Class B/C product.
- 1985 vintage is newer than neighborhood average—competitive vs. older stock with value-add upside from system and common-area updates.
- High renter concentration supports a deeper tenant base and potential leasing stability.
- 3-mile household growth points to a gradually expanding renter pool, aiding absorption and retention.
- Practical amenity access (notably groceries) enhances livability fundamentals for workforce renters.
- Risks: safety metrics below national midpoint and accessible ownership options require careful pricing, security planning, and insurance review.