| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 15th | Poor |
| Amenities | 27th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3139 S H St, Bakersfield, CA, 93304, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1981 |
| Units | 44 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3139 S H St Bakersfield Multifamily Investment
This 44-unit property benefits from strong neighborhood occupancy at 95.8% and a rental-oriented housing market with 56.5% of units occupied by renters. CRE market data from WDSuite indicates the area maintains competitive fundamentals despite moderate income levels.
This inner suburb neighborhood ranks 162nd among 247 metro neighborhoods with a C+ rating, positioning it competitively within the Bakersfield market. Built in 1981, the property aligns with the neighborhood's average construction year of 1978, suggesting consistent building stock that may present value-add renovation opportunities for investors focused on capital improvements.
The area demonstrates solid rental fundamentals with 56.5% of housing units occupied by renters, ranking in the 92nd national percentile for rental share. Neighborhood-level occupancy stands at 95.8%, ranking above metro median and indicating stable tenant retention. Median contract rent of $931 reflects affordable housing costs that support tenant retention, though investors should monitor renewal rates given the modest household income levels.
Demographics within a 3-mile radius show a population of 136,599 with projected growth to 148,479 by 2028, representing an 8.7% increase that supports expanded renter demand. The forecast anticipates household growth of 39.5% over five years, driven by both population increase and household formation trends. Median household income is projected to rise 35% to $73,552, while contract rents are expected to increase 24.4% to $1,222, suggesting improving affordability dynamics for the tenant base.
Amenity access varies significantly, with grocery stores ranking in the 98th national percentile for density at 6.91 per square mile, supporting tenant convenience. However, the neighborhood shows limited cafe, childcare, and park amenities, which may affect tenant appeal compared to more amenity-rich areas. School ratings average 0.33 out of 5, ranking in the 4th national percentile, presenting a consideration for family-oriented tenant retention.
Safety metrics indicate challenges that require investor attention. The neighborhood ranks 217th among 247 metro neighborhoods for overall crime, placing it in the 19th national percentile. Property crime rates reached 827.8 incidents per 100,000 residents with a concerning 114.8% year-over-year increase, while violent crime rates of 147.7 per 100,000 residents also increased 166.7% annually.
These crime trends suggest investors should factor security considerations into property management strategies and tenant retention efforts. The significant year-over-year increases in both property and violent crime may impact tenant comfort and renewal rates, potentially requiring enhanced security measures or community engagement initiatives to maintain occupancy stability.
Employment opportunities in the broader Bakersfield market support workforce housing demand, though specific major employers near this location require further research for comprehensive tenant base analysis.
- Additional employer research needed to identify specific anchor tenants and commute patterns relevant to this location.
This 44-unit property presents a value-oriented multifamily investment anchored by strong neighborhood occupancy fundamentals and a rental-heavy housing market. The 95.8% neighborhood occupancy rate, combined with 56.5% rental tenure share, indicates stable demand for rental housing in this inner suburb location. According to commercial real estate analysis, the 1981 construction year aligns with neighborhood norms while presenting potential value-add opportunities through strategic renovations and property improvements.
Demographic projections within the 3-mile radius support long-term rental demand, with population growth of 8.7% and household formation increasing 39.5% through 2028. Rising median household incomes projected at 35% growth to $73,552 should improve tenant quality and rent collection, while forecast rent increases of 24.4% suggest pricing power potential. However, investors must carefully evaluate the impact of elevated crime trends and limited neighborhood amenities on tenant retention and property positioning.
- Strong neighborhood occupancy at 95.8% indicates stable rental demand and tenant retention
- Rental-oriented market with 56.5% of units occupied by renters supports multifamily fundamentals
- Projected household growth of 39.5% and income increases of 35% through 2028 support demand expansion
- 1981 construction year presents value-add renovation opportunities for property enhancement
- Risk consideration: Elevated crime trends with significant year-over-year increases require security planning