| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 15th | Poor |
| Amenities | 27th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3501 Grassotti Ct, Bakersfield, CA, 93309, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1985 |
| Units | 56 |
| Transaction Date | 2013-07-01 |
| Transaction Price | $3,240,000 |
| Buyer | --- |
| Seller | GGB Prop |
3501 Grassotti Ct Bakersfield Multifamily Investment, 56 Units
Neighborhood occupancy trends run above the metro median, supporting stable leasing and modest pricing power according to WDSuite’s CRE market data. With a broad renter base and everyday retail nearby, the asset’s demand drivers appear durable relative to comparable inner-suburban locations.
Located in an inner-suburban pocket of Bakersfield, the neighborhood posts occupancy levels that are competitive among 247 metro neighborhoods and in the top quartile nationally. For investors, that points to steadier cash flow and reduced downtime between turns versus weaker submarkets.
Renter concentration is above the metro median (measured as the share of housing units that are renter-occupied), indicating a deep tenant base for multifamily. Median contract rents sit near the national middle, which helps sustain demand while leaving room for disciplined renewal strategies.
Daily-needs access is a relative strength: grocery availability ranks near the top of Bakersfield neighborhoods and scores in a very high national percentile. By contrast, parks, pharmacies, cafes, and childcare are limited within the immediate neighborhood, so residents may rely on adjacent areas for recreation and services. Average school ratings track well below national norms; family-oriented leasing may warrant targeted positioning and amenity programming.
Within a 3-mile radius, recent population and household counts have grown modestly, with additional growth projected by 2028. This expansion supports a larger tenant base and helps underpin occupancy. Home values relative to incomes are elevated versus many U.S. neighborhoods, which tends to reinforce reliance on rental housing and support retention. Built in 1985, the property is newer than the neighborhood’s average vintage (late 1970s), offering a competitive edge versus older stock while still warranting selective capital planning for systems and exterior refresh.
Safety indicators for the neighborhood rank in the lower tier among 247 Bakersfield neighborhoods and below the national median, suggesting investors should plan for prudent on-site security measures, lighting, and resident engagement. Recent year-over-year changes show property and violent offense rates trending unfavorably, reinforcing the case for active management rather than a passive approach.
Positioning the asset with visible security, access controls, and partnerships with local patrol resources can help support tenant retention and leasing stability while broader area trends evolve.
This 56-unit, 1985-vintage asset benefits from a renter-heavy neighborhood, stable occupancy that outperforms the metro median, and strong grocery access that supports daily convenience. According to CRE market data from WDSuite, the area’s occupancy profile sits in the top quartile nationally, indicating a broad and durable tenant base. Near‑median rents support ongoing demand, while elevated ownership costs relative to incomes help sustain renter reliance on multifamily.
Within a 3-mile radius, population and household growth have been positive and are projected to continue through 2028, which should expand the renter pool and support leasing and retention. The 1985 vintage is slightly newer than the neighborhood average, offering competitive positioning versus older comparables and potential for targeted value‑add through unit updates and common‑area enhancements. Investors should balance these strengths against below‑average safety metrics and weaker school ratings by underwriting active property management and pragmatic CapEx.
- Occupancy strength above the metro median supports stable cash flow and renewal capture.
- Renter-occupied housing share indicates a deep tenant base for multifamily demand.
- Elevated ownership costs versus incomes reinforce rental reliance and retention potential.
- 1985 vintage offers competitive positioning with selective value-add and systems planning.
- Risks: below-median safety and low school ratings warrant active management and conservative underwriting.