| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 15th | Poor |
| Amenities | 27th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3450 Grassotti Ct, Bakersfield, CA, 93309, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1977 |
| Units | 55 |
| Transaction Date | 2013-08-15 |
| Transaction Price | $3,240,000 |
| Buyer | CAL WORLD BAKERSFIELD LLC |
| Seller | HEK INVESTMENTS LLC |
3450 Grassotti Ct Bakersfield Multifamily with Stable Renter Base
Neighborhood occupancy has held firm with a high share of renter-occupied units, according to WDSuite’s CRE market data, supporting steady leasing dynamics near Bakersfield’s inner-suburban corridors.
This Inner Suburb pocket of Bakersfield carries a C+ neighborhood rating and has been competitive among 247 Bakersfield neighborhoods on occupancy. The neighborhood’s occupancy level sits in the top quartile nationally and has strengthened over the past five years, a favorable backdrop for multifamily income stability. Note: these occupancy metrics reflect the neighborhood, not this specific property.
Renter concentration is elevated (measured as the share of housing units that are renter-occupied), which deepens the tenant base and supports leasing durability. Rent-to-income indicators point to manageable affordability pressure for many renters, which can aid renewal probability and moderate turnover for well-managed assets.
Local amenity access is mixed: grocery availability is a relative strength versus both metro and national norms, while parks, pharmacies, cafes, and childcare options are comparatively limited. Average school ratings in the area trend below national norms, which may temper family-oriented demand but does not preclude stable workforce housing performance.
Within a 3-mile radius, population and households have grown modestly and are projected to expand through the mid-term, indicating a larger tenant base over time. Median home values sit within a high-cost ownership context relative to local incomes, which can sustain reliance on rental housing and support pricing power for appropriately positioned communities. These directional signals are based on commercial real estate analysis from WDSuite’s datasets.
Safety indicators for the neighborhood trend below both metro and national benchmarks, placing the area outside the top quartile among 247 Bakersfield neighborhoods and below average nationally. Recent year-over-year data show upticks in both property and violent offense rates at the neighborhood level. These figures pertain to the broader neighborhood rather than the property itself.
Investors typically account for this context through operational focus on resident screening, lighting, and property-level security measures, which can support retention and asset performance even in submarkets with weaker safety statistics.
The asset’s location in an inner-suburban Bakersfield neighborhood benefits from solid renter demand and neighborhood occupancy that ranks competitively within the metro and in the top quartile nationally. Grocery access is a relative strength, and ownership costs run high versus local incomes, reinforcing reliance on multifamily housing and supporting rent collections and lease retention. According to CRE market data from WDSuite, the neighborhood’s occupancy trend has improved over the past five years, which supports income stability for well-run properties.
Directional demographic trends within a 3-mile radius point to modest population growth and a projected increase in households, indicating gradual renter pool expansion. While amenity gaps (parks, pharmacies, cafes) and below-average school ratings are considerations, the combination of deep renter concentration and an ownership market that remains comparatively costly provides a durable demand backdrop for workforce-oriented units.
- Neighborhood occupancy is competitive in the metro and top quartile nationally, supporting income stability.
- Elevated renter-occupied share signals a deeper tenant base and steadier leasing.
- High-cost ownership context sustains demand for rentals and can support pricing power.
- Modest 3-mile population and household growth indicates gradual renter pool expansion.
- Risks: below-median safety metrics and limited park/cafe/pharmacy access may require stronger on-site operations.