| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Poor |
| Demographics | 16th | Poor |
| Amenities | 43rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3461 S Chester Ave, Bakersfield, CA, 93304, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1986 |
| Units | 31 |
| Transaction Date | 2013-02-01 |
| Transaction Price | $1,510,000 |
| Buyer | Mukand and Tejwant Sandhu |
| Seller | Jane Hussain Trust |
3461 S Chester Ave Bakersfield Multifamily Investment
This 31-unit property built in 1986 operates in a neighborhood with 96% occupancy rates and strong grocery access, according to CRE market data from WDSuite.
The property sits in an Inner Suburb neighborhood ranking 150th among 247 metro neighborhoods with a C+ rating. The area demonstrates strong rental fundamentals with 96% occupancy rates ranking in the 77th national percentile, indicating solid tenant retention and absorption. Renter-occupied units comprise 58.5% of housing stock, ranking in the 93rd national percentile nationally, creating a deep pool of rental demand.
Built in 1986, the property aligns with the neighborhood's 1975 average construction year, presenting potential value-add opportunities through strategic renovations and unit improvements. The area features exceptional grocery access with 5.84 stores per square mile ranking 10th among metro neighborhoods, supporting tenant convenience and retention.
Demographics within a 3-mile radius show a population of 112,523 with forecasted household growth to 45,903 units by 2028, representing 44% expansion in the household base. Median household income of $52,989 is projected to increase 34% to $71,131 over five years, while median contract rent is expected to rise 21% from $981 to $1,188, indicating strengthening rental fundamentals and pricing power.
Home values averaging $228,748 with elevated ownership costs relative to income support sustained rental demand, as higher purchase barriers reinforce tenant reliance on multifamily housing. The rent-to-income ratio of 20% suggests manageable affordability for current residents while providing lease retention stability.
The neighborhood's safety profile shows property crime rates of 474 incidents per 100,000 residents, ranking 154th among 247 metro neighborhoods and placing in the 38th national percentile. Violent crime rates are lower at 80 incidents per 100,000 residents, ranking 185th metro-wide and 35th percentile nationally.
Both property and violent crime rates experienced increases over the past year at 20% and 56% respectively, though these remain within typical urban fluctuation ranges. Investors should factor ongoing security considerations into property management and tenant retention strategies.
Limited employer data is available for the immediate area surrounding this property. Bakersfield's broader employment base includes energy, agriculture, and government sectors that support regional workforce housing demand.
This 31-unit property offers exposure to Bakersfield's rental market fundamentals through a neighborhood with 96% occupancy rates and substantial renter concentration at 58.5% of housing units. The 1986 construction year presents value-add renovation opportunities to capture projected 21% rent growth over five years, supported by 34% household income increases and 44% household formation growth within the 3-mile radius.
Strong grocery infrastructure ranking in the top 4% metro-wide enhances tenant appeal, while elevated home values relative to income sustain rental demand by limiting ownership accessibility. Multifamily property research indicates the combination of high occupancy, growing renter base, and income expansion creates favorable conditions for both cash flow stability and strategic capital improvements.
- High neighborhood occupancy at 96% supports stable cash flow and tenant retention
- Value-add potential through 1986 vintage property improvements to capture rent growth
- Strong renter concentration at 58.5% of housing units creates deep tenant pool
- Projected 21% rent growth supported by 34% income increases over five years
- Risk: Recent crime rate increases require ongoing security and management attention