| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Good |
| Demographics | 26th | Fair |
| Amenities | 43rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2605 Mount Vernon Ave, Bakersfield, CA, 93306, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1984 |
| Units | 65 |
| Transaction Date | 2009-09-17 |
| Transaction Price | $2,600,000 |
| Buyer | SCHESTAG YUN |
| Seller | CARLSON DEVELOPMENT GP |
2605 Mount Vernon Ave, Bakersfield CA Multifamily Investment
Neighborhood renter demand and mid-market pricing point to stable leasing fundamentals, according to WDSuite’s CRE market data. This commercial real estate analysis highlights occupancy resilience relative to local options and a renter base supported by essential retail access.
The property sits in an Inner Suburb pocket of Bakersfield rated B+ at the neighborhood level, competitive among Bakersfield neighborhoods (ranked 88 out of 247). Occupancy in the neighborhood is about 90.5%, suggesting reasonable stability even as the local rate has softened modestly over five years. Renter-occupied housing makes up a meaningful share of neighborhood units (about 40%), which helps support depth of demand for smaller, efficient floor plans like those averaging roughly 575 square feet here.
Retail and services are a mixed picture. Restaurant density ranks in the top decile locally (21 of 247; 91st percentile nationally), and grocery access is comparatively strong (81 of 247; 73rd percentile nationally). Pharmacy access is a standout (17 of 247; 95th percentile nationally). By contrast, parks, cafes, and childcare options are limited in the immediate area, which may reduce appeal for certain renter segments and should be considered in leasing strategy.
Neighborhood rents skew mid-market (median contract rent positioned above the metro median, rank 84 of 247) with steady five-year growth, according to CRE market data from WDSuite. Median home values sit near the metro’s middle but, relative to incomes (value-to-income ratio in the upper quartile locally; 77th percentile nationally), ownership remains a higher-cost alternative for many households. For investors, that tends to reinforce reliance on multifamily housing and can aid retention and pricing power at renewal.
Within a 3-mile radius, demographics indicate a large household base with a majority of units renter-occupied, supporting a broad tenant pool. Recent years show flat-to-slightly lower population levels, but projections call for more households and smaller average household sizes, which can translate to a larger renter base and support occupancy stability over time.
Schools in the neighborhood rate below average (rank 89 of 247; low national percentile), which may be a consideration for family-oriented leasing but is less likely to affect demand from workforce renters prioritizing commute and cost. Overall, the mix of essential retail access, mid-market rents, and sustained renter concentration positions the asset to compete effectively among comparable Bakersfield properties.
Safety metrics for the neighborhood trail national averages, with overall crime near the lower national percentiles and below the metro median (ranked 198 out of 247 Bakersfield neighborhoods). Property-related offense measures sit in weaker national percentiles, while violent offense metrics perform somewhat better but remain below the national midpoint. Recent year-over-year trends indicate increases across categories, so underwriting should reflect conservative assumptions for security, insurance, and operational protocols.
In practical terms, this suggests a need for active management—lighting, access control, resident screening, and potential partnerships with local patrols—to support tenant retention and asset performance. Comparatively, the area does not align with top-quartile safety profiles in Bakersfield, so investors should calibrate expense load and marketing to workforce renters who prioritize value and commute convenience.
Positioned in a B+ Inner Suburb of Bakersfield with approximately 90% neighborhood occupancy, the asset benefits from a sizeable renter base and steady mid-market rents. Essential retail access is strong—especially restaurants, groceries, and pharmacies—which helps daily-living convenience and leasing stickiness even as parks and cafes are limited nearby.
Home values relative to incomes trend on the higher side for would-be owners, reinforcing reliance on rental options and supporting renewal pricing. Within a 3-mile radius, forecasts point to more households and smaller household sizes, which typically expand the renter pool and support occupancy. According to CRE market data from WDSuite, the neighborhood’s rent positioning above the metro median and resilient occupancy provide a reasonable foundation for income durability, while management attention to safety and school-perception risks will be important for performance.
- Neighborhood occupancy around 90% underpins leasing stability versus comparable submarkets.
- Mid-market rents and strong essential retail access aid retention and absorption.
- Ownership costs versus incomes favor renting, supporting pricing power at renewal.
- 3-mile projections indicate more households and smaller sizes, enlarging the renter pool.
- Risks: below-median safety metrics and low school ratings may require targeted operations and marketing.