| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 15th | Poor |
| Amenities | 27th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2701 S Real Rd, Bakersfield, CA, 93309, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1983 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2701 S Real Rd Bakersfield Multifamily Investment
This 20-unit property built in 1983 sits in an Inner Suburb neighborhood where occupancy has climbed and renter concentration exceeds 90% of neighborhoods nationally, according to CRE market data from WDSuite, supporting stable tenant demand in a renter-oriented market.
The property is located in an Inner Suburb neighborhood rated C+ among 247 neighborhoods across the Bakersfield metro. According to commercial real estate analysis from WDSuite, the neighborhood ranks in the 76th percentile nationally for occupancy rate, which stands at 95.8% and has grown 8.9% over the past five years. Renter-occupied units account for 56.5% of housing tenure locally and rank in the 92nd percentile nationwide, reflecting a deep and sustained tenant base that supports multifamily demand.
The property was built in 1983, slightly older than the neighborhood average construction year of 1978. This vintage presents potential value-add opportunities through targeted renovations or unit upgrades, particularly as median contract rents in the neighborhood have risen 18.7% over five years to $931. Investors should plan for capital expenditure cycles consistent with properties of this age, while recognizing that selective improvements may support rent premiums and tenant retention.
Within a 3-mile radius, the population totals approximately 141,000 residents and has grown 3.0% over the past five years. Household count increased 2.5% during the same period, and forecasts project a further 36.1% expansion in total households by 2028, translating to a larger tenant base and more renters entering the market. Median household income stands at $61,284 and is forecast to climb 27.2% to $77,924 by 2028, supporting occupancy stability and potential pricing power as incomes rise.
Median home values in the neighborhood are $257,749, up 54.3% over five years and ranking in the 53rd percentile nationally. Elevated ownership costs limit accessibility to ownership for many households, reinforcing reliance on rental housing and sustaining multifamily demand. The rent-to-income ratio of 0.21 suggests manageable affordability dynamics for tenants, reducing retention risk and supporting lease management considerations. Amenity access is mixed: grocery density ranks in the 98th percentile nationally with 6.91 stores per square mile, enhancing tenant appeal, though childcare, park, and pharmacy access rank lower. Average school ratings place the neighborhood in the 4th percentile nationally, a factor investors should weigh when targeting tenant demographics.
Safety metrics for the neighborhood show room for improvement relative to metro and national benchmarks. The overall crime rank is 217th among 247 Bakersfield neighborhoods, placing it in the 19th percentile nationally. Property offense rates are estimated at 827.8 incidents per 100,000 residents annually, ranking 190th locally (26th percentile nationwide), and have increased 114.8% year-over-year. Violent offense rates stand at 147.7 per 100,000 residents, ranking 207th in the metro (25th percentile nationally) and rising 166.7% over the past year.
These trends warrant careful underwriting. Investors should consider property-level security enhancements, tenant screening protocols, and proactive property management to mitigate risk. While crime data reflects neighborhood-wide aggregates and can fluctuate with reporting changes, the year-over-year increases and below-average rankings suggest that safety will remain a key due diligence focus and a factor in tenant perception and retention planning.
No qualifying employers with verified distance data are available for this location at this time.
This 20-unit property offers exposure to a renter-oriented Inner Suburb market where occupancy has trended upward and renter concentration ranks in the 92nd percentile nationally, signaling depth and stability in the tenant base. The 1983 vintage presents value-add potential through selective capital improvements, particularly as neighborhood rents have climbed nearly 19% over five years and household income is forecast to rise 27% by 2028. Elevated home values sustain rental demand by limiting ownership accessibility, while projected household growth of 36% supports long-term absorption and lease-up velocity. Investors should weigh these fundamentals against below-average safety metrics and school ratings, which may influence tenant mix and require active property management and targeted improvements to optimize positioning.
Multifamily property research from WDSuite shows that the neighborhood occupancy rate of 95.8% outperforms many Bakersfield submarkets and reflects steady demand despite mixed amenity access. Grocery density is exceptional, ranking in the 98th percentile nationwide, though childcare and park access lag. The rent-to-income ratio of 0.21 suggests manageable affordability, reducing lease turnover risk. Forward demographic trends—including a 7.4% population increase and significant household formation through 2028—point to a growing renter pool that should support occupancy stability and moderate rent growth, provided operators address competitive positioning through unit upgrades and proactive tenant engagement.
- Renter-occupied housing ranks in the 92nd percentile nationally, supporting a deep and stable tenant base
- Neighborhood occupancy at 95.8% has grown 8.9% over five years, outperforming many metro submarkets
- Forecast household growth of 36% and median income gains of 27% by 2028 expand the renter pool and support pricing power
- 1983 construction offers value-add upside through targeted renovations as neighborhood rents have risen 18.7% over five years
- Crime metrics rank below metro and national averages, requiring active management, security measures, and careful tenant screening to mitigate retention risk