| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 15th | Poor |
| Amenities | 27th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3135 S H St, Bakersfield, CA, 93304, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1981 |
| Units | 44 |
| Transaction Date | 2002-04-03 |
| Transaction Price | $1,100,000 |
| Buyer | FEDDE WILLIAM S |
| Seller | DEZEMBER BRENT M |
3135 S H St Bakersfield 44-Unit Multifamily Opportunity
Neighborhood occupancy has held in the mid-90s with a majority of units renter-occupied, supporting demand durability according to WDSuite’s CRE market data. Positioned for steady workforce housing appeal within Bakersfield’s inner-suburb fabric.
This inner-suburb location balances everyday convenience with stable renter demand. Grocery access is a clear strength—grocery density ranks competitive among Bakersfield neighborhoods (6 of 247) and sits in the top quartile nationally, which supports daily‑needs walk/drive patterns that help retention. Restaurant options are also competitive among Bakersfield neighborhoods, while cafes, parks, and pharmacies are relatively limited locally—an amenity gap investors should factor into leasing narratives.
For income property fundamentals, the neighborhood’s occupancy stands in the top quartile nationally and competitive within the Bakersfield metro, indicating resilient absorption and lower downtime risk in comparable assets. Renter concentration is in the top quartile among 247 metro neighborhoods and well above national norms, signaling a deep tenant base for multifamily operators.
Ownership costs relative to income are elevated versus national benchmarks (value‑to‑income ranks high nationally), which often sustains reliance on rental housing and can support pricing power when lease management is disciplined. Rent levels relative to local incomes point to manageable affordability pressure overall, but operators should still monitor rent‑to‑income trends to protect renewal velocity.
Within a 3‑mile radius, demographics show modest population growth and an increase in households in recent years, with additional household gains projected through 2028, according to WDSuite’s commercial real estate analysis. This translates to a gradually expanding renter pool, supportive of occupancy stability and steady leasing for workforce‑oriented product.
Vintage context: the property was built in 1981, slightly newer than the neighborhood’s late‑1970s average. That positioning can provide a competitive edge versus older stock, while still presenting typical 1980s systems and finish updates that offer practical value‑add pathways.
Safety indicators for the neighborhood rank below the metro median (217 of 247), and compare below the national median as well. In practical terms, this suggests operators should emphasize on‑site management, lighting, and access controls, and align marketing with the area’s convenience to services rather than late‑night lifestyle positioning. Trends should be monitored over time, using consistent comparisons within Bakersfield and nationally for context.
3135 S H St offers 44 units in a renter‑heavy Bakersfield pocket where neighborhood occupancy trends remain competitive versus the metro and in the top quartile nationally. Elevated ownership costs relative to income reinforce multifamily demand, while steady household growth within a 3‑mile radius points to a larger tenant base and supports leasing stability. Based on CRE market data from WDSuite, day‑to‑day retail access is a local strength (notably groceries), which helps reinforce resident convenience and renewal potential.
Constructed in 1981, the asset is slightly newer than the neighborhood average vintage, allowing for targeted modernization to enhance rent positioning versus older comparables. Operators should underwrite to standard 1980s capital planning and consider amenity/light unit updates to capture value‑add upside, while accounting for softer school ratings and a safety profile that trails metro medians.
- Competitive neighborhood occupancy and deep renter base support steady leasing
- Elevated ownership costs versus income sustain reliance on rentals and pricing power
- 1981 construction enables focused renovations to outperform older local stock
- Strong grocery access underpins day‑to‑day convenience and renewal potential
- Risks: below‑median safety and weaker school ratings require proactive management and positioning