| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 15th | Poor |
| Amenities | 27th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2601 S Real Rd, Bakersfield, CA, 93309, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1974 |
| Units | 118 |
| Transaction Date | 2004-11-10 |
| Transaction Price | $9,300,000 |
| Buyer | 2601 REAL RD LP |
| Seller | TESORO DEL SOL 1 LLC |
2601 S Real Rd, Bakersfield Multifamily Investment
Neighborhood occupancy is holding near the mid‑90s and trending up, indicating steady renter demand according to WDSuite’s CRE market data. For investors, that stability can support consistent cash flow while underwriting conservatively for a 1970s asset.
Located in an Inner Suburb of Bakersfield, the property benefits from a renter-occupied share of housing around the neighborhood that is high for the metro and in the top decile nationally, reinforcing depth of the tenant base and potential leasing durability. Neighborhood occupancy is competitive among Bakersfield neighborhoods (rank 82 of 247) and in the top quartile nationally (76th percentile), a constructive backdrop for maintaining stabilized operations.
Daily needs are well served: the neighborhood ranks 6th of 247 in grocery store density, placing it in the top national percentiles for access to essentials, while restaurants are moderately represented (66th percentile nationally). Broader amenities, parks, cafes, and pharmacies track below national norms (amenities rank 107 of 247; 27th percentile nationally), so on-site offerings and property programming can be meaningful differentiators for retention.
Home values in the neighborhood sit below many California metros, but relative to local incomes the value-to-income ratio is elevated (79th percentile nationally). In investor terms, a high-cost ownership market for the area tends to sustain reliance on multifamily, supporting renter demand and lease retention. At the same time, neighborhood rent-to-income is comparatively modest (25th percentile nationally), suggesting lower affordability pressure and some room for disciplined rent growth and revenue management.
The asset’s vintage is 1974 versus a neighborhood average around 1978. That slightly older profile points to routine capital planning and the potential for targeted value-add—kitchens, baths, common areas, and building systems—to enhance competitiveness against newer stock.
Demographics within a 3-mile radius indicate modest population growth in recent years with households also increasing, expanding the local renter pool. Forecasts point to further gains in population and household counts, which can support occupancy stability and absorption for well-managed assets, based on commercial real estate analysis from WDSuite.
Safety trends should be evaluated carefully. The neighborhood’s crime rank is 217 out of 247 within the Bakersfield metro, placing it below the metro average and below national norms (roughly the lower quintile nationally). Investors may want to emphasize property-level security, lighting, and access controls, and weigh these measures in rent positioning and marketing.
Recent year-over-year changes indicate increases in both property and violent offense estimates at the neighborhood level. While these are neighborhood aggregates rather than block-level measures, underwriting should reflect prudent reserves for security enhancements and tenant engagement to support resident satisfaction and retention.
This 118-unit asset offers scale in an Inner Suburb location where neighborhood occupancy is competitive within the metro and top quartile nationally, supporting cash flow durability. Renter concentration is high for the area, and grocery access is a local strength, helping day-to-day livability and lease retention. According to CRE market data from WDSuite, rent-to-income metrics are relatively modest for the neighborhood, indicating manageable affordability pressure and potential pricing power when paired with thoughtful renovations and service.
Built in 1974, the property is slightly older than the neighborhood average, creating a clear value‑add pathway through unit and systems updates to improve positioning against newer stock. Balanced against these positives, safety metrics trail metro and national benchmarks, so investors should plan for security-forward operations and disciplined underwriting.
- Stabilized neighborhood fundamentals with top-quartile national occupancy support
- High renter-occupied concentration underpins tenant base depth and leasing stability
- Value-add upside for a 1974 vintage through unit, common-area, and systems upgrades
- Rent-to-income levels suggest room for disciplined revenue management
- Risk: Neighborhood safety ranks below metro and national averages—plan for security investments