| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 15th | Poor |
| Amenities | 27th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3500 Grassotti Ct, Bakersfield, CA, 93309, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1977 |
| Units | 20 |
| Transaction Date | 2003-11-19 |
| Transaction Price | $2,900,000 |
| Buyer | CAL WORLD BAKERSFIELD LLC |
| Seller | HEK INVESTMENTS LLC |
3500 Grassotti Ct, Bakersfield CA Multifamily Investment
Neighborhood occupancy is firm with investor-friendly stability at the area level, according to WDSuite’s CRE market data, while a deep renter base supports consistent leasing. Positioned in an inner-suburban Bakersfield location, the asset caters to workforce tenants seeking practical access to daily needs.
This inner-suburban Bakersfield neighborhood shows steady renter demand and durable occupancy at the neighborhood level. The area s occupancy ranks competitive among Bakersfield neighborhoods (82 out of 247) and sits in the top quartile nationally, signaling resilience for lease-up and renewals based on CRE market data from WDSuite. Renter-occupied housing accounts for a high share of units locally (56.5%), indicating depth in the tenant pool and support for multifamily absorption.
Day-to-day convenience is anchored by strong grocery access a neighborhood strength that tests in the upper national percentiles even as specialty amenities like cafes, parks, childcare, and pharmacies are relatively limited in the immediate area. For investors, this mix points to practical livability for workforce households with fewer discretionary destinations nearby.
Rent levels track around the national middle based on neighborhood medians, and the local rent-to-income ratio indicates manageable affordability pressure in aggregate. Combined with an above-median neighborhood housing score and stable occupancy, this backdrop can support retention and measured pricing decisions rather than aggressive, lease-friction strategies.
Within a 3-mile radius, demographics indicate modest recent population and household growth, with forecasts pointing to further increases in households by the next five-year window. A larger household base and gradual income gains imply an expanding renter pool that can support occupancy stability over time. Home values in the neighborhood are elevated relative to local incomes by national comparison, which typically sustains reliance on rental housing and helps underpin multifamily demand.
School ratings in the neighborhood benchmark low relative to national peers. While not a direct proxy for rental performance, this is a consideration for unit mix strategy and marketing to family-oriented renters.
Safety indicators benchmark below the metro average and national norms for this neighborhood. The area s crime rank places it in the lower tier among Bakersfield neighborhoods (217 out of 247), and national percentiles indicate it trails safer neighborhoods across the country. Investors typically account for this by underwriting to neighborhood-average security assumptions and emphasizing property-level visibility, lighting, and access controls.
Use comparisons as directional guidance rather than block-level certainty. Submarket and property-specific practices can mitigate risk and support tenant retention even in neighborhoods that rank below metro medians on safety.
This 20-unit asset in Bakersfield s inner suburbs is supported by neighborhood-level occupancy that is competitive in the metro and top quartile nationally, alongside a high concentration of renter-occupied housing. Together, these factors point to a stable tenant base and reliable leasing, while rent levels near the national middle offer room for disciplined revenue management without overextending affordability. According to CRE market data from WDSuite, strong grocery access complements day-to-day livability even as lifestyle amenities are thinner.
Forward-looking 3-mile demographic trends call for additional households, suggesting a gradually expanding renter pool. Elevated ownership costs relative to incomes at the neighborhood level further reinforce the role of multifamily as a practical housing option, which can support occupancy and reduce turnover risk with appropriate unit positioning and operations. Key considerations include below-average school benchmarks, thinner non-grocery amenities, and safety rankings that lag the metro.
- Neighborhood occupancy competitive in Bakersfield and top quartile nationally, supporting leasing stability.
- High renter-occupied share indicates depth in the tenant base for a 20-unit property.
- Rents around national middle with manageable rent-to-income dynamics support retention-focused pricing.
- 3-mile forecasts point to more households, expanding the renter pool over the next cycle.
- Risks: below-metro safety rankings, low school ratings, and thinner lifestyle amenities beyond groceries.