| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 54th | Best |
| Amenities | 71st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2401 Goldenrod St, Bakersfield, CA, 93308, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1994 |
| Units | 44 |
| Transaction Date | 2018-12-12 |
| Transaction Price | $7,600,000 |
| Buyer | VB CBT MEADOWS LP |
| Seller | NORTH BAKERSFIELD INVESTORS LIMITED |
2401 Goldenrod St Bakersfield Multifamily Investment
Neighborhood occupancy is strong and renter demand appears resilient for stabilized operations, according to WDSuite’s CRE market data. The submarket’s amenity access and steady household growth support durable cash flow potential.
Located in an inner-suburb pocket of Bakersfield, the neighborhood scores A+ overall and ranks 8th out of 247 metro neighborhoods, placing it among the leading areas locally. Amenity access is a clear strength: restaurants, parks, pharmacies, and cafes all rank in the top quartile among 247 Bakersfield neighborhoods, reinforcing day-to-day convenience that can aid leasing and retention.
Neighborhood occupancy is high (ranked 59 out of 247, top quartile locally; top quartile nationally), indicating limited vacant inventory and supporting pricing discipline for stabilized assets. Median contract rents benchmark above the national median, while the rent-to-income profile trends more manageable than many peer areas, a combination that can help balance revenue growth with resident retention. Framed for investors, this mix supports underwriting geared to steady leasing rather than outsized concessions.
Tenure patterns suggest a moderate renter base within the immediate neighborhood (renter-occupied share competitive among Bakersfield neighborhoods and above national norms), which points to a viable pool of prospective tenants. At the same time, median home values sit at a level that may enable some households to consider ownership alternatives, creating selective competition; however, the area’s renter concentration and convenience amenities help sustain multifamily demand.
Demographic statistics aggregated within a 3-mile radius show recent population growth alongside a rising household count and a slight downtrend in average household size—factors that typically widen the renter pool and support occupancy stability. Looking ahead, projections indicate continued population growth and a meaningful increase in households by 2028, which, based on CRE market data from WDSuite, should expand the tenant base and underpin long-run leasing fundamentals. School ratings in the neighborhood trail national averages, which may temper appeal for some family renters but does not negate workforce demand drivers.
Comparable crime benchmarking was not available in WDSuite’s dataset for this specific neighborhood at the time of publication. Investors typically contextualize safety by reviewing Bakersfield city and Kern County trendlines, touring at different times of day, and consulting prospective property management to align expectations with on-the-ground conditions.
Built in 1994, the property is slightly older than the neighborhood’s average vintage, positioning it for targeted value-add and capital planning to remain competitive against newer stock. The immediate neighborhood posts top-quartile occupancy versus the metro and strong national standing, with amenity access (restaurants, parks, pharmacies, and cafes) supporting leasing velocity and day-to-day livability for residents.
Within a 3-mile radius, recent population growth and a notable increase in households point to a larger tenant base and durable multifamily demand over the medium term. According to CRE market data from WDSuite, rents sit above the national median while rent-to-income trends are relatively manageable, suggesting room for disciplined revenue strategies without overextending affordability. Key watch items include potential competition from ownership options and the need for ongoing maintenance and renovation typical for late-1990s-era assets.
- Top-quartile neighborhood occupancy locally with strong national standing supports stable leasing
- Amenity-rich location (restaurants, parks, pharmacies, cafes) reinforces resident retention
- 3-mile radius shows population and household growth, expanding the tenant base
- 1994 vintage offers value-add potential through targeted renovations and system updates
- Risks: selective competition from ownership alternatives and capex needs tied to vintage