| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 15th | Poor |
| Amenities | 27th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3020 New Stine Rd, Bakersfield, CA, 93309, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1978 |
| Units | 20 |
| Transaction Date | 2009-02-24 |
| Transaction Price | $2,380,000 |
| Buyer | CAMOU ISIDORE |
| Seller | PADOT CHARLES R |
3020 New Stine Rd Bakersfield Multifamily Investment
Neighborhood occupancy trends are solid and have held above national norms, according to WDSuite’s CRE market data, supporting stable cash flow potential for a 20‑unit property in Bakersfield’s inner suburb.
This inner-suburb location in Bakersfield shows steady renter demand. Neighborhood occupancy is competitive among Bakersfield neighborhoods (82 of 247) and sits in the top quartile nationally, indicating a relatively stable leasing environment. The share of renter-occupied housing is elevated, signaling a deeper tenant base for multifamily operators and helping underpin retention through cycles.
Amenities skew practical rather than lifestyle-oriented. Grocery access is strong (ranked 6 of 247 locally and top percentile nationally), which supports daily convenience for residents, while measured counts of cafes, parks, and pharmacies are limited in the immediate neighborhood. For investors, this suggests workforce-oriented demand with fewer premium-amenity expectations.
Housing and affordability dynamics point to durable rental reliance. Home values run high relative to local incomes (value-to-income ratio above most U.S. neighborhoods), which tends to sustain multifamily demand and pricing power, while neighborhood rent-to-income around 21% supports lease retention and reduces turnover risk compared with higher-cost metros. Median asking rents in the neighborhood remain moderate versus West Coast peers, positioning assets to compete on value rather than luxury build-out.
Demographics aggregated within a 3-mile radius show recent gains in population and households, with additional growth projected by 2028. Rising incomes alongside an expanding household count point to a larger renter pool over the medium term, which can support occupancy stability and measured rent growth if operators maintain competitive finishes and attentive management.
Safety indicators trail national medians, with the neighborhood ranking in the lower tier within the Bakersfield metro (217 of 247). Nationally, crime percentiles align below average, implying investors should account for security considerations and loss-prevention practices when underwriting and operating.
Recent year-over-year changes indicate increases in both property and violent offenses at the neighborhood level. For multifamily owners, prudent measures—lighting, access control, and partnership with responsive management—can support resident experience and help mitigate risk relative to comparable workforce submarkets.
The property’s submarket profile leans toward durable, workforce-driven rental demand with neighborhood occupancy competitive locally and in the top quartile nationally. Elevated renter concentration supports depth of the tenant base, while strong grocery access and practical amenities fit value-oriented positioning. Ownership costs are comparatively high versus incomes, which reinforces renter reliance and helps sustain leasing velocity. Based on CRE market data from WDSuite, these fundamentals compare favorably with many Central Valley submarkets for investors prioritizing steady occupancy over premium rent growth.
Demographics within a 3-mile radius indicate ongoing population and household growth, with further expansion forecast by 2028—supporting a larger renter pool and stable absorption for well-managed 1970s-vintage assets that compete on value. Key watch items include below-average school ratings, measured amenity depth outside of grocery, and safety metrics that lag national norms—factors best addressed through hands-on operations and disciplined capital planning.
- Occupancy stands competitive locally and top quartile nationally, supporting cash flow stability
- Elevated renter-occupied share indicates a deeper tenant base and steady leasing
- Homeownership costs vs. income reinforce multifamily demand and pricing power
- 3‑mile growth in population and households expands the renter pool over time
- Risks: limited lifestyle amenities, below-average school ratings, and safety metrics below national norms