| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Best |
| Demographics | 52nd | Good |
| Amenities | 42nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3400 Gosford Rd, Bakersfield, CA, 93309, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1984 |
| Units | 50 |
| Transaction Date | 2023-10-12 |
| Transaction Price | $13,600,000 |
| Buyer | 3300 GOSFORD ROAD LLC |
| Seller | CEDAR OAKS APARTMENTS LP |
3400 Gosford Rd, Bakersfield Multifamily Investment
Positioned in an inner-suburban pocket with steady renter demand, the neighborhood shows above-median occupancy and a higher renter concentration than most U.S. areas, according to WDSuite’s CRE market data. This supports durable leasing fundamentals while keeping pricing power balanced with local affordability.
This inner-suburban location ranks in the top quartile among 247 Bakersfield neighborhoods, signaling competitive fundamentals for a 50-unit asset. Neighborhood occupancy is above the national median, and rents sit higher than many U.S. neighborhoods, indicating demand depth without stretching typical renter budgets.
Daily needs are well served: restaurant density is strong (around the 80th percentile nationally), groceries are convenient (high-70s percentile), and park access is a standout (low-90s percentile). Café and pharmacy density is limited, which means residents rely more on nearby centers for those services, but overall amenity coverage supports livability for working households.
Tenure patterns point to a substantial renter base: the share of housing units that are renter-occupied sits in a high national percentile, which typically supports leasing velocity and a deeper tenant pool. Neighborhood rent levels have grown over the last five years, aligning with stable occupancy and reinforcing revenue consistency for well-managed assets.
Within a 3-mile radius, population and households have expanded over the past five years and are projected to continue growing, implying a larger tenant base and ongoing renter pool expansion. With home values elevated for the market context and ownership costs trending higher than income in national comparison, many households are likely to continue relying on multifamily options, which can aid retention and occupancy stability.
Safety indicators are mixed and should be evaluated alongside property-level measures. Relative to neighborhoods nationwide, overall crime metrics trend below the national median, while within the Bakersfield metro the area is competitive but not top-tier. Recent year-over-year volatility in violent offense estimates suggests investors should underwrite prudent security and monitoring, while recognizing that trends can normalize as local conditions evolve.
The asset benefits from a neighborhood ranking in the top quartile of Bakersfield subareas, supported by above-median occupancy and rent levels that signal durable demand. Within a 3-mile radius, population and households have grown and are projected to continue increasing, which supports a larger tenant base and helps sustain occupancy. Elevated ownership costs relative to income in national comparison further reinforce reliance on rental housing, aiding lease retention and pricing discipline.
According to CRE market data from WDSuite, local amenity coverage is favorable for restaurants, groceries, and parks, complementing renter appeal, while limited café and pharmacy density and mixed safety trends warrant conservative operations planning. Overall, the setting aligns with long-term multifamily demand drivers without depending on speculative catalysts.
- Above-median neighborhood occupancy and competitive rent levels support stable cash flow potential.
- Growing 3-mile population and household counts expand the tenant base and leasing depth.
- Elevated ownership costs versus income bolster reliance on rentals, aiding retention and pricing power.
- Strong restaurants, groceries, and park access enhance livability for working households.
- Risk: mixed safety signals and limited café/pharmacy density call for prudent underwriting and property-level security.