| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 15th | Poor |
| Amenities | 27th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3000 New Stine Rd, Bakersfield, CA, 93309, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1979 |
| Units | 20 |
| Transaction Date | 2009-02-24 |
| Transaction Price | $2,380,000 |
| Buyer | CAMOU ISIDORE |
| Seller | PADOT CHARLES R |
3000 New Stine Rd Bakersfield Multifamily Investment
Neighborhood occupancy has remained resilient with solid renter demand, according to WDSuite’s CRE market data. This points to stable cash flow potential for a 20-unit property positioned in Bakersfield’s inner-suburban fabric.
Situated in an Inner Suburb of Bakersfield with a C+ neighborhood rating, the area shows competitive occupancy performance within the metro and sits in the top quartile nationally for occupancy. For investors, this indicates steady leasing and comparatively lower downtime risk relative to many U.S. neighborhoods, based on commercial real estate analysis from WDSuite.
Renter dynamics are a core strength: the neighborhood’s renter-occupied share is high relative to the metro (ranked in the top quartile among 247 Bakersfield neighborhoods) and strong nationally. A deeper renter pool supports demand stability for multifamily units and can aid retention through various cycles.
Local amenities are mixed. Daily-needs access is a positive, with grocery density ranking among the best in the metro and strong compared with national peers. Dining options are reasonably available. However, the immediate area reports limited parks, pharmacies, childcare, and cafes, which may modestly cap lifestyle appeal for some tenants. Average school ratings trail both metro and national benchmarks, a factor investors should weigh for family-oriented leasing strategies.
Within a 3-mile radius, population and household counts have grown in recent years, with additional gains forecast over the next five years. This trend supports a larger tenant base and underpins occupancy stability. Ownership costs in the neighborhood are elevated relative to incomes (high value-to-income standing nationally), which tends to reinforce reliance on rental housing and can sustain multifamily demand. Meanwhile, rent-to-income levels appear manageable, supporting lease retention.
Safety trends should be considered in underwriting. The neighborhood’s crime metrics rank toward the weaker end of the Bakersfield metro (ranked 217 among 247 neighborhoods), and national comparisons place the area below average safety percentiles. Recent year estimates indicate crime has moved higher, suggesting prudent operating protocols and security planning may be warranted.
Investors evaluating tenant profile and on-site management should account for this relative positioning versus both the metro and national benchmarks, recognizing that safety conditions can vary by block and may shift over time.
This 20-unit asset benefits from a neighborhood with competitive occupancy among Bakersfield submarkets and top-quartile national standing, implying steadier leasing and fewer vacancy gaps. A high renter-occupied share points to a sizable tenant base, while a high value-to-income standing versus national peers suggests a high-cost ownership market that tends to sustain multifamily demand. Within a 3-mile radius, continued population and household growth supports renter pool expansion, reinforcing demand and potential lease stability.
Operating fundamentals are further supported by manageable rent-to-income levels that can help retention and reduce turnover friction. According to CRE market data from WDSuite, the local amenity mix favors daily-needs access (notably groceries), though limited parks and lower school ratings may temper appeal for some households. Underwriting should incorporate security considerations given the area’s below-average safety benchmarks.
- Competitive neighborhood occupancy and top-quartile national standing support leasing stability
- High renter-occupied share indicates depth of tenant demand
- Elevated ownership costs versus incomes reinforce reliance on rental housing
- 3-mile population and household growth expands the renter pool over time
- Risks: below-average safety metrics and limited nearby parks/childcare may require targeted management