| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 15th | Poor |
| Amenities | 27th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2801 Wible Rd, Bakersfield, CA, 93309, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1975 |
| Units | 52 |
| Transaction Date | 2002-11-30 |
| Transaction Price | $1,700,000 |
| Buyer | COTTRELL RICK J |
| Seller | GOLDEN EMPIRE ASSOCIATES LLC |
2801 Wible Rd Bakersfield Multifamily Investment
This 52-unit property from 1975 sits in an inner suburb neighborhood with 95.8% occupancy and strong grocery accessibility. Multifamily property research from WDSuite indicates the area maintains above-average occupancy rates with a 56.5% rental share among housing units.
Located in Bakersfield's inner suburb landscape, this neighborhood demonstrates solid fundamentals for multifamily investors. The area ranks in the 76th percentile nationally for occupancy rates at 95.8%, indicating strong tenant retention dynamics. With 56.5% of housing units occupied by renters, the neighborhood ranks in the 92nd percentile nationally for rental share, supporting consistent demand for multifamily properties.
Demographics within a 3-mile radius show a stable tenant base of 141,256 residents with modest population growth of 2.5% over five years. The area maintains an even split between owner-occupied and renter-occupied units at 50% each. Median household income of $59,979 has grown 30.3% over five years, while contract rents increased 23.8% to $1,057, suggesting manageable affordability pressure for existing tenants.
The neighborhood benefits from exceptional grocery accessibility, ranking 6th among 247 metro neighborhoods with 6.91 stores per square mile in the 98th percentile nationally. However, amenity density remains limited in other categories, with the area ranking 107th of 247 neighborhoods overall. The property's 1975 construction year aligns with the neighborhood average of 1978, indicating consistent building stock that may present value-add renovation opportunities for investors focused on capital improvements.
Looking ahead, demographic projections show household growth of 36.4% through 2028, expanding the potential renter pool. Median household income is forecast to reach $77,403, representing 29% growth that should support rent progression. The forecast maintains the current 45.3% rental share, suggesting sustained multifamily demand in this inner suburb market.
Safety metrics for this neighborhood reflect mixed conditions relative to the broader Bakersfield metro. The area ranks 217th among 247 metro neighborhoods for overall crime, placing it in the 19th percentile nationally. Property offense rates of 827.8 per 100,000 residents rank in the 26th percentile nationally, while violent crime rates of 147.7 per 100,000 residents fall in the 25th percentile nationally.
Investors should note recent trends show increases in both property and violent crime rates over the past year, with property offenses rising 114.8% and violent offenses up 166.7%. These changes rank the neighborhood in the lower percentiles nationally for crime trend improvement. For multifamily operators, these conditions may influence tenant retention strategies and property management considerations, including security measures and tenant screening protocols.
Employment data for specific nearby employers is not available for this location. Investors should conduct independent research on major area employers and job centers that support rental demand in this Bakersfield submarket.
This 52-unit Bakersfield property presents a value-oriented opportunity in a neighborhood with demonstrated occupancy stability. According to CRE market data from WDSuite, the area maintains 95.8% occupancy rates that rank in the top quartile nationally, while the 56.5% rental share indicates strong multifamily demand. The 1975 construction year offers potential value-add upside through strategic renovations and unit improvements.
Demographic trends within the 3-mile radius support long-term rental demand, with household growth projected at 36.4% through 2028 and median income expected to rise 29% to $77,403. Current rent-to-income ratios of 0.21 suggest manageable affordability for tenants, while the neighborhood's exceptional grocery accessibility enhances tenant appeal and retention potential.
- Neighborhood occupancy of 95.8% ranks in 76th percentile nationally
- Strong rental market with 56.5% of units renter-occupied
- Projected 36.4% household growth through 2028 supports tenant demand
- 1975 vintage offers value-add renovation opportunities
- Risk consideration: Crime rates rank in lower percentiles with recent increases