| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Good |
| Demographics | 26th | Fair |
| Amenities | 43rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2721 Bernard St, Bakersfield, CA, 93306, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1983 |
| Units | 90 |
| Transaction Date | 1997-07-15 |
| Transaction Price | $2,272,500 |
| Buyer | BARCELONA HOUSING PARTNERS LP |
| Seller | WINTERSET INVESTORS |
2721 Bernard St, Bakersfield CA Multifamily Investment
Neighborhood renter demand appears durable and pricing remains relatively manageable versus incomes, according to WDSuite’s CRE market data, supporting stable leasing fundamentals near the national median. Elevated ownership costs in the area further sustain reliance on multifamily housing.
Positioned in Bakersfield’s inner-suburban fabric, the neighborhood carries a B+ rating and is competitive among the metro’s mid-tier locations (ranked 88 of 247 neighborhoods). For investors, the key appeal is balanced fundamentals: occupancy in the surrounding neighborhood sits near the national median, and median asking rents have trended upward over the past five years, signaling steady renter demand rather than late-cycle volatility.
Local essentials lean practical. Grocery access is comparatively strong (nationally above average), and pharmacy density ranks in the top decile nationwide, while restaurant options outpace typical U.S. neighborhoods. In contrast, parks, cafes, and childcare are relatively sparse, which may matter for certain renter cohorts. School ratings in the neighborhood are on the lower end versus national peers, a consideration for family-oriented demand and leasing narratives.
Tenure patterns support a resilient renter base: neighborhood renter-occupied share trends high relative to national norms, and within a 3-mile radius a slight majority of housing units are renter-occupied. This mix broadens the tenant pool and helps underpin leasing velocity and retention. With rent-to-income ratios below national medians, the area offers room for operators to focus on occupancy stability and measured revenue management rather than aggressive push strategies.
Demographic indicators within a 3-mile radius show largely stable population levels with forecasts pointing to a modest increase ahead, alongside growth in household counts. This combination typically expands the local renter pool and supports consistent absorption. Compared with the metro and national context, elevated home-value-to-income ratios indicate a relatively high-cost ownership market locally, which tends to reinforce reliance on rental housing and can support sustained occupancy.
Safety metrics for the neighborhood track below national medians, and the area ranks in the lower tier among Bakersfield neighborhoods (198 out of 247). In practical terms, the neighborhood is less safe than many peers across the metro, and recent data show a year-over-year uptick in reported property offenses. Violent offense rates are also below the national midpoint, though not at the lowest end of the distribution.
For underwriting, investors often account for this by emphasizing on-site management, lighting, and access control, and by aligning marketing with demand from residents prioritizing proximity to jobs and services. Monitoring trend direction is advisable, as improving or deteriorating conditions can affect retention and operating costs.
This 90-unit asset benefits from a renter-heavy demand base, practical access to daily-needs retail, and rents that remain manageable relative to incomes—factors that support occupancy consistency and lease retention. Based on CRE market data from WDSuite, neighborhood occupancy trends are near national norms while rent levels have advanced over five years, suggesting solid day-to-day operations rather than reliance on outsized growth assumptions. Elevated ownership costs in the area further reinforce reliance on multifamily housing, widening the tenant funnel.
At the same time, investors should calibrate expectations around local considerations: school quality scores are lower than national averages, and safety metrics lag the metro median, which can influence marketing strategy, security budgeting, and achievable renter profiles. Amenity gaps (particularly parks, cafes, and childcare) may also shape positioning and value-add priorities focused on on-site features and services.
- Renter-heavy neighborhood with a broad tenant base and manageable rent-to-income dynamics supporting retention.
- Neighborhood occupancy near national norms with five-year rent growth indicating steady demand.
- Strong daily-needs access (groceries, pharmacies) enhances livability and leasing stability.
- Elevated local ownership costs bolster reliance on multifamily housing and sustain demand depth.
- Risks: below-median safety and lower school ratings; limited parks/cafes/childcare suggest targeted on-site improvements and active management.