| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 54th | Best |
| Amenities | 71st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2401 McCray 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 McCray St Bakersfield Multifamily Investment
Stable neighborhood occupancy and a broad renter base point to durable cash flow potential, according to WDSuite’s CRE market data. Positioning near daily needs and employment corridors supports leasing consistency without relying on premium rent growth.
Located in an Inner Suburb of Bakersfield, the neighborhood ranks 8 out of 247 metro neighborhoods, indicating it is competitive among Bakersfield neighborhoods for multifamily fundamentals. Amenity access is a relative strength, with restaurants and cafes scoring in high national percentiles, while parks and pharmacies are also well represented nearby.
Neighborhood occupancy is strong and sits in the top quartile nationally, supporting income stability and fewer costly turns in typical cycles. The share of housing units that are renter-occupied in the neighborhood indicates a balanced renter concentration, which helps sustain demand depth for a 44-unit asset.
Three-mile demographic statistics show population growth and an increase in households, alongside a slight downtrend in average household size. For investors, this points to a larger tenant base and ongoing demand for rental units, which can support occupancy and renewal rates even as new product competes for leases.
Ownership costs in the area are closer to national norms than coastal California markets, which can temper the push from households into renting; however, rent-to-income levels are manageable by national comparison, aiding retention and reducing concessions pressure. Average school ratings are modest for the neighborhood, which may make family-oriented demand more price-sensitive, but workforce renters typically prioritize proximity to jobs and services.
Standardized neighborhood-level crime metrics are not available in this dataset for precise comparison. Investors commonly benchmark site-level observations against city and metro trends and incorporate property management protocols and visibility measures into underwriting rather than relying on block-level claims.
Built in 1994, the property is slightly older than the neighborhood’s average vintage, creating potential value-add and system modernization angles while remaining competitive against much older stock. Strong neighborhood occupancy and a renter base supported by amenity access point to steady leasing and renewal prospects. Based on commercial real estate analysis from WDSuite, the area’s rent-to-income context is comparatively manageable, which supports retention without aggressive concessions.
Three-mile demographic statistics indicate population growth and a meaningful increase in households through the forecast period, expanding the renter pool and supporting occupancy stability. While school ratings are modest and childcare options are limited nearby, these factors are balanced by daily-needs access and workforce housing dynamics that underpin consistent demand.
- Strong neighborhood occupancy supports income durability and lower turnover risk.
- 1994 vintage offers value-add and modernization potential relative to newer comps.
- Expanding renter base within 3 miles supports leasing velocity and renewals.
- Amenity access (food, parks, pharmacies) reinforces everyday convenience for tenants.
- Risks: modest school ratings, limited nearby childcare options, and typical price sensitivity for workforce renters.