| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 15th | Poor |
| Amenities | 27th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3488 Grassotti Ct, Bakersfield, CA, 93309, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1976 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | $176,484 |
| Buyer | TRENDA FAMILY LTD PARTNERSHIP |
| Seller | WASHINGTON MUTUAL BANK FA |
3488 Grassotti Ct Bakersfield Multifamily Investment
This 20-unit property built in 1976 operates in a neighborhood with 95.8% occupancy rates and strong rental demand, supported by a 56.5% renter share according to CRE market data from WDSuite.
The Grassotti Court neighborhood represents an inner suburb environment with established rental demand fundamentals. The area maintains a 95.8% occupancy rate that ranks in the top quartile among 247 metro neighborhoods, indicating strong tenant retention and limited vacancy pressure. With 56.5% of housing units renter-occupied, the neighborhood provides substantial rental market depth that supports consistent leasing activity.
Built in 1976, this property aligns with the neighborhood's average construction year of 1978, suggesting potential value-add opportunities through strategic capital improvements and unit upgrades. The area's median contract rent of $931 has experienced steady growth of 18.7% over five years, while demographic data aggregated within a 3-mile radius shows a stable population base of approximately 140,400 residents with moderate household income levels.
The neighborhood offers strong grocery access with 6.91 stores per square mile, ranking in the 98th percentile nationally for convenience shopping density. However, investors should note limited recreational amenities, with minimal cafe, park, and childcare facilities that may impact tenant retention for certain demographics. The area's housing affordability metrics suggest rental demand remains supported by ownership cost considerations in the broader Bakersfield market.
Safety considerations require careful evaluation for this neighborhood location. Property crime rates are estimated at 827.8 incidents per 100,000 residents, with the neighborhood ranking 190th among 247 metro neighborhoods and performing in the 26th percentile nationally. Recent trends show property crime rates increased by 114.8% year-over-year, indicating potential tenant retention and insurance considerations for multifamily operators.
Violent crime rates remain more moderate at 147.7 incidents per 100,000 residents, though these figures also show upward movement. Investors should factor security measures and tenant screening protocols into their operational planning, particularly given the competitive rental market dynamics that may require enhanced property management approaches to maintain occupancy levels.
Employment data for major corporate anchors near this specific location is not available in the current dataset. Investors should conduct independent research on local employment centers and commute patterns that may influence tenant demand in this Bakersfield submarket.
This 20-unit Bakersfield property presents a value-add opportunity in a market with demonstrated rental demand fundamentals. The neighborhood's 95.8% occupancy rate significantly outperforms many comparable markets, while the 1976 construction year aligns with area norms and suggests renovation upside potential. Demographic projections within a 3-mile radius indicate population growth of 8.1% through 2028, supporting an expanding renter pool that should benefit multifamily demand.
The property's 850 square foot average unit size provides competitive positioning in a market where median rents have grown 18.7% over five years. However, investors must carefully evaluate safety trends and implement appropriate risk management strategies given recent increases in property crime rates. According to multifamily property research from WDSuite, the neighborhood's strong grocery access and established rental tenure patterns support long-term tenant retention potential.
- High neighborhood occupancy at 95.8% indicates strong rental demand and limited vacancy risk
- 1976 construction provides value-add renovation opportunities to capture rent premiums
- Projected 8.1% population growth through 2028 supports expanding tenant base
- 56.5% renter share creates substantial rental market depth
- Rising crime rates require enhanced security measures and careful tenant screening protocols