| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Poor |
| Demographics | 27th | Fair |
| Amenities | 44th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2801 Vassar St, Bakersfield, CA, 93306, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1973 |
| Units | 32 |
| Transaction Date | 2015-02-21 |
| Transaction Price | $6,630,000 |
| Buyer | SANTA CATALINA COMPANY LP |
| Seller | VERNON VISTA HOLDINGS LLC |
2801 Vassar St Bakersfield 32-Unit Multifamily Investment
Neighborhood-level occupancy runs below the metro median, but a sizeable renter base in the broader area supports tenant demand, according to WDSuite’s CRE market data.
Located in an inner-suburb pocket of Bakersfield, the property sits in a neighborhood rated B- that is competitive among Bakersfield neighborhoods (ranked 53 out of 247). Daily needs are well covered with strong access to groceries and childcare—both score in the top quartile nationally—while cafes and parks are limited, which can focus demand on practical, workforce-oriented housing.
Renter-occupied housing is the majority within a 3-mile radius, indicating a deep tenant pool for multifamily operators and supporting leasing continuity. Median contract rents at the neighborhood level are around the metro midpoint, and the rent-to-income ratio suggests manageable affordability, which can help with retention and steady renewal conversations. Home values are elevated relative to local incomes (higher national percentile on value-to-income), reinforcing ongoing reliance on rental options and supporting multifamily demand depth.
Occupancy in the neighborhood tracks below the metro median (ranked 219 of 247), which warrants hands-on asset management and disciplined leasing strategies. However, restaurants are comparatively dense for the area (top quartile nationally), and grocery access ranks 30 out of 247 metro neighborhoods—signals that day-to-day convenience and employment-adjacent services remain a local draw. Construction in the immediate neighborhood skews older than the property itself (average 1966 vs. 1973), giving a 1970s vintage a relative edge versus older stock, while still leaving scope for modernization to drive rent positioning.
Three-mile demographic data from WDSuite shows modest population contraction historically with a projected return to growth by 2028, alongside an expected increase in households and smaller average household sizes. For investors, that combination points to a gradually expanding renter pool and supports stable multifamily demand over a medium-term hold horizon, informed by multifamily property research rather than short-term volatility.
Safety indicators for the neighborhood sit below national medians (national percentile in the lower ranges), and the area ranks toward the lower end within Bakersfield (185 out of 247). Recent-year estimates indicate an uptick in both property and violent offenses, which merits prudent underwriting and active property management practices such as lighting, access control, and resident engagement.
For context, percentiles compare this neighborhood to communities nationwide, while the metro rank reflects its standing among 247 Bakersfield neighborhoods. Investors should treat these as directional signals and pair them with on-the-ground diligence and trend monitoring over multiple periods.
Nearby employment centers provide commute convenience for renters and help support workforce housing demand in this inner-suburban location.
Built in 1973, this 32-unit asset is slightly newer than the neighborhood’s average vintage and can compete against older stock, while targeted renovations and systems updates may unlock value-add upside. The immediate neighborhood shows below-median occupancy versus Bakersfield peers, so performance will lean on proactive leasing and operations; however, a majority-renter profile within a 3-mile radius and a high-cost ownership landscape relative to incomes both point to durable renter reliance and a sizable tenant base.
Rents are around the metro midpoint and have trended upward, with WDSuite’s commercial real estate analysis indicating continued demand support as household counts are projected to rise and household sizes ease by 2028. Strong access to daily-needs retail (notably groceries) and restaurants reinforces neighborhood livability, helping sustain leasing velocity and retention when paired with thoughtful capital planning.
- 1973 vintage offers competitive positioning versus older local stock with clear renovation and operational upside
- Majority-renter housing within 3 miles supports a deep tenant base and leasing continuity
- Daily-needs retail and restaurant density bolster livability and retention
- Below-median neighborhood occupancy and recent crime upticks require active management and conservative underwriting