| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 54th | Best |
| Amenities | 71st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2400 Goldenrod St, Bakersfield, CA, 93308, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1994 |
| Units | 46 |
| Transaction Date | 2018-12-12 |
| Transaction Price | $7,600,000 |
| Buyer | VB CBT MEADOWS LP |
| Seller | NORTH BAKERSFIELD INVESTORS LIMITED |
2400 Goldenrod St Bakersfield Multifamily Opportunity
Neighborhood occupancy of 97.4% and a 41.8% renter-occupied share point to durable tenant demand around the property, according to CRE market data from WDSuite, with pricing supported by Inner Suburb location fundamentals.
Positioned in Bakersfield s Inner Suburb, the neighborhood rates A+ and ranks 8 out of 247 metro neighborhoods, placing it in the top quartile locally. Amenity access is a relative strength: cafes, restaurants, parks, groceries, and pharmacies all sit in high national percentiles, supporting daily convenience and renter retention.
Occupancy in the neighborhood is 97.4% (86th percentile nationally), signaling limited vacancy and generally steady lease-up conditions versus broader U.S. trends, based on CRE market data from WDSuite. Median contract rents at the neighborhood level benchmark above the national median, while the rent-to-income ratio of 0.19 suggests manageable affordability pressure that can support renewal rates with thoughtful lease management.
The property s 1994 vintage is slightly older than the neighborhood s average construction year of 1997. This age profile often benefits from targeted capital planning select interior updates, systems modernization, or curb-appeal improvements to maintain competitive positioning against newer stock.
Renter concentration varies by lens: at the neighborhood level, 41.8% of housing units are renter-occupied, indicating a meaningful but mixed tenure base; within a 3-mile radius, renter-occupied share is higher, supporting a deeper tenant pool for multifamily. Over the past five years, the 3-mile radius shows population growth of about 10% and a similar increase in households, with forecasts pointing to continued household expansion and smaller average household sizes factors that typically expand the renter pool and support occupancy stability.
Median home values in the neighborhood measure below many California markets, and the value-to-income ratio is near national norms. In practice, this creates a balanced backdrop: ownership is not out of reach for all households, yet elevated transaction frictions and income segmentation sustain reliance on rentals, which can help underpin pricing power for well-managed multifamily assets.
Schools average around 2.0 out of 5 (below national median), which may influence unit mix appeal for family renters but does not preclude steady demand where employment access and everyday amenities are strong.
Neighborhood-level crime metrics were not available in this data release. Investors typically benchmark safety by comparing neighborhood trends to metro and county patterns over time and by incorporating on-the-ground diligence. Consider reviewing multi-year trends and daytime population dynamics to contextualize resident experience and retention risk.
This 46-unit, 1994-vintage asset sits in a top-quartile Bakersfield neighborhood with strong amenity access and high neighborhood occupancy (97.4%), indicating resilient leasing fundamentals. The rent-to-income profile and below-coastal ownership costs create room for measured rent growth while preserving renewal potential, according to commercial real estate analysis from WDSuite. Proximity to a broader 3-mile renter base, coupled with recent and projected household growth, supports a larger tenant funnel and day-one demand depth.
The vintage is slightly older than the neighborhood average, suggesting value-add upside through targeted interior and systems upgrades to improve competitive standing against newer stock. While school ratings trail national medians and may temper appeal for some family renters, amenity convenience and occupancy stability provide counterweights that can sustain performance through cycles.
- Top-quartile neighborhood within Bakersfield with high amenity access and strong occupancy
- 3-mile radius growth and higher renter concentration expand the tenant base and support leasing
- 1994 vintage offers targeted value-add potential to enhance rents and retention
- Balanced affordability dynamics support pricing power with disciplined lease management
- Risk: Below-median school ratings may modestly narrow family-renter appeal; ongoing capital planning required for aging systems