| 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 | 2016-05-04 |
| Transaction Price | $1,840,000 |
| Buyer | 3700 AVENUE L LLC |
| Seller | PI PROPERTIES NO 133 LLC |
2701 S Real Rd Bakersfield Multifamily Investment
Neighborhood occupancy trends are strong for this inner-suburb location, with the area landing in the top quartile nationally for occupied housing, according to WDSuite’s CRE market data. That stability, combined with a renter-leaning housing mix, points to depth of tenant demand at the neighborhood level rather than at the property itself.
This inner-suburb Bakersfield location offers everyday convenience with strong grocery access and a modest dining footprint, while parks, cafes, childcare, and pharmacies are limited within the immediate neighborhood. For investors, that mix typically supports workforce housing demand, though it may not command a lifestyle premium tied to amenity density.
Neighborhood occupancy is competitively positioned versus national benchmarks, supporting lease-up and retention. Median asking rents in the area sit near the national midpoint, which can help sustain a broader renter pool and reduce pushback on renewal increases compared with higher-cost nodes. The neighborhood’s housing stock skews renter-occupied, indicating a deep base of renter households that can support multifamily absorption and stabilize operations.
Within a 3-mile radius, WDSuite data indicates modest population growth to date and a projected increase in households over the coming years, expanding the local renter pool. Rising median household incomes in the 3-mile area also suggest improving capacity to absorb measured rent growth, while still requiring careful attention to rent-to-income to manage retention.
Home values in the neighborhood are elevated relative to local incomes by national standards, which tends to keep reliance on rental housing steady and supports occupancy durability. School ratings in the immediate neighborhood trail national averages; this typically shifts demand toward value-oriented properties rather than school-driven premiums, a consideration for positioning and marketing.
Safety indicators for the neighborhood track below national averages and rank in the lower tier among Bakersfield neighborhoods (217th out of 247), signaling a comparatively higher incidence of reported crime at the neighborhood level. Investors should underwrite for security measures and tenant-experience considerations, and compare recent trendlines to submarket norms when assessing retention and operating costs.
Nationally, the neighborhood’s safety percentiles are on the lower end, so prudent operating plans may include lighting, access control, and community standards to support resident satisfaction. As always, crime dynamics can vary block to block; property-level controls and professional management can materially influence outcomes relative to neighborhood baselines.
Built in 1983, the property is slightly newer than the neighborhood’s average vintage, offering competitive positioning versus older stock while leaving room for selective modernization to enhance rents and retention. According to CRE market data from WDSuite, the surrounding neighborhood posts above-median occupancy nationally and a majority share of renter-occupied housing units, both of which support tenant demand depth and operational stability for a 20‑unit asset with average unit sizes around 1,010 sf.
Within a 3-mile radius, recent and projected increases in households point to a growing renter base. Neighborhood-level asking rents sit near national midpoints, and rent-to-income metrics indicate manageable affordability pressure, allowing for disciplined rent management without overreliance on outsized growth. Key risks to underwrite include lower neighborhood safety percentiles and limited nearby lifestyle amenities, suggesting a value-oriented positioning and attention to on-site security and maintenance.
- Occupancy strength at the neighborhood level supports leasing stability and renewals
- Majority renter-occupied housing stock indicates depth of tenant demand
- 1983 vintage provides competitive edge versus older stock with value-add potential
- 3-mile household growth expands the renter pool, aiding absorption
- Risk: Lower neighborhood safety percentiles and limited amenities require prudent operations and positioning