| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Best |
| Demographics | 52nd | Good |
| Amenities | 42nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3300 Gosford Rd, Bakersfield, CA, 93309, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1984 |
| Units | 48 |
| Transaction Date | 2023-10-12 |
| Transaction Price | $13,600,000 |
| Buyer | 3300 GOSFORD ROAD LLC |
| Seller | CEDAR OAKS APARTMENTS LP |
3300 Gosford Rd Bakersfield Multifamily Investment
This 48-unit property benefits from neighborhood-level occupancy rates of 93.4% and a substantial renter-occupied housing base, according to WDSuite's CRE market data.
Located in an inner suburb neighborhood ranking 21st out of 247 Bakersfield metro neighborhoods, this area demonstrates competitive fundamentals for multifamily investors. The neighborhood maintains 93.4% occupancy rates with nearly 50% of housing units being renter-occupied, indicating strong rental demand depth. Median contract rents of $1,319 position the area favorably within the broader metro market.
Demographics within a 3-mile radius show a population base of approximately 104,000 residents with household income growth of 27% over the past five years, reaching a median of $92,309. The area forecasts continued population growth of 12% through 2028, with household formation projected to increase by 45%, expanding the potential tenant base. The neighborhood's renter concentration of 38% within the 3-mile radius reinforces multifamily demand stability.
Built in 1984, this property aligns with the neighborhood's average construction vintage, indicating consistent building stock without unusual capital expenditure pressures. Home values averaging $314,139 with a value-to-income ratio of 4.3 sustain rental demand by limiting ownership accessibility for many residents. The area offers solid amenity access including 1.57 grocery stores per square mile and restaurant density that ranks in the 80th percentile nationally.
Rent-to-income ratios of 0.22 suggest manageable affordability levels for tenants, supporting lease retention potential. The neighborhood's overall A rating reflects balanced fundamentals across housing, demographics, and local amenities that contribute to investment stability.
Safety metrics place this neighborhood at 177th out of 247 metro neighborhoods for overall crime, translating to the 30th percentile nationally. Property crime rates show an estimated 391 incidents per 100,000 residents annually, with recent increases of 16% year-over-year. Violent crime rates remain lower at approximately 58 incidents per 100,000 residents, though this metric has shown volatility with recent increases.
While crime trends require monitoring, the neighborhood's competitive ranking within the broader Bakersfield metro and solid occupancy rates suggest these factors have not significantly impacted rental demand or tenant retention to date.
No major anchor employers with verified distances were identified within the immediate vicinity of this property.
This 48-unit Bakersfield property presents a value-oriented multifamily investment in a neighborhood demonstrating solid occupancy fundamentals and demographic growth potential. The area's 93.4% neighborhood-level occupancy rate and substantial renter concentration of nearly 50% indicate established rental demand. Projected household growth of 45% through 2028 within the 3-mile radius supports long-term tenant base expansion, while current rent-to-income ratios suggest manageable affordability for residents.
The 1984 construction year aligns with neighborhood norms, avoiding unusual capital expenditure pressures while positioning the asset for potential value-add opportunities. Home values maintaining a 4.3 value-to-income ratio help sustain rental demand by limiting ownership accessibility, particularly as median household incomes have grown 27% over five years.
- Strong neighborhood occupancy at 93.4% with high renter concentration supporting demand stability
- Projected 45% household growth through 2028 expanding potential tenant base within 3-mile radius
- Rent-to-income ratios of 0.22 indicate manageable affordability supporting lease retention
- Home values at 4.3x income ratio sustain rental demand by limiting ownership competition
- Risk consideration: Recent increases in both property and violent crime rates require ongoing monitoring