| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Fair |
| Demographics | 12th | Poor |
| Amenities | 62nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2410 S M St, Bakersfield, CA, 93304, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1984 |
| Units | 20 |
| Transaction Date | 2024-12-17 |
| Transaction Price | $1,300,000 |
| Buyer | GLENN HARRY SCHULMAN REVOCABLE LIVING TRUST |
| Seller | AZTEC REAL ESTATE LLC |
2410 S M St Bakersfield Multifamily Investment
This 20-unit property benefits from strong renter demand in a neighborhood with 85th percentile rental share among Bakersfield metro areas. Neighborhood occupancy of 93.6% indicates stable commercial real estate analysis fundamentals according to CRE market data from WDSuite.
This inner suburb neighborhood ranks in the top quartile among 247 Bakersfield metro neighborhoods for rental housing concentration, with 46% of units occupied by renters compared to regional averages. The area demonstrates solid occupancy fundamentals at 93.6%, positioning above the 60th percentile nationally for multifamily stability.
Built in 1984, this property aligns with the neighborhood's average construction year of 1962, suggesting consistent building stock that may present value-add renovation opportunities for investors focused on capital improvements. The area's amenity infrastructure supports tenant retention with grocery stores ranking in the 89th percentile nationally and restaurant density in the 92nd percentile.
Demographics within a 3-mile radius show 56% renter-occupied housing units, reinforcing rental demand fundamentals. Median contract rents of $930 and projected 5-year growth to $1,153 indicate moderate rent progression potential, while household income projections suggest a 31% increase over the next five years, supporting tenant purchasing power.
The neighborhood's B+ rating reflects balanced fundamentals, though investors should note below-average school ratings and monitor demographic shifts as the area's household income currently ranks in the 12th percentile nationally.
Crime metrics indicate elevated property offense rates ranking 211th among 247 metro neighborhoods, placing the area in the lower quartile for safety performance. Property offense rates of 1,238 per 100,000 residents represent a 74% increase year-over-year, suggesting investors should factor security considerations into operational planning.
Violent crime rates of 203 per 100,000 residents rank 213th metro-wide, with a 76% year-over-year increase. These trends place the neighborhood in the 19th percentile nationally for both property and violent crime metrics, requiring careful tenant screening and potential security enhancements to maintain occupancy stability.
Employment data for major anchor employers near this location is not currently available in our database. Investors should conduct independent research on local employment centers and commute patterns to assess workforce housing demand for this Bakersfield submarket.
This 1984-vintage property offers value-add potential through strategic renovations while benefiting from neighborhood fundamentals that support rental demand. The 93.6% occupancy rate and 46% renter share demonstrate stable multifamily market conditions, with demographic projections showing 42% household growth and 31% median income increases through 2028.
Rent growth projections from $930 to $1,153 over five years, combined with the property's 357 square foot average unit size, suggest opportunities for efficiency-focused improvements that could enhance rental yields in this workforce housing segment.
- Strong rental market with 85th percentile renter concentration metro-wide
- Stable 93.6% neighborhood occupancy supports cash flow consistency
- Value-add renovation potential with 1984 construction vintage
- Projected 42% household growth through 2028 expands tenant base
- Risk consideration: Elevated crime rates require security planning and tenant screening protocols