| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Fair |
| Demographics | 17th | Fair |
| Amenities | 62nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3535 S H St, Bakersfield, CA, 93304, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1976 |
| Units | 116 |
| Transaction Date | 2003-04-01 |
| Transaction Price | $4,500,000 |
| Buyer | BASCOM H STREET APARTMENTS LLC |
| Seller | LIEVSAY DONALD G |
3535 S H St, Bakersfield CA Multifamily Investment
Neighborhood occupancy trends sit above the national median, supporting steady renter demand according to WDSuite’s CRE market data, while the submarket’s everyday amenities help underpin leasing resilience.
This inner-suburb location in Bakersfield offers practical livability for renters: restaurants and groceries are dense for the metro, with neighborhood restaurant availability positioned in a high national percentile and grocery access likewise strong. Cafes are also comparatively plentiful, which supports day-to-day convenience and resident retention. Park and formal childcare options are limited within the neighborhood, so on-site amenities and family-friendly programming can be a differentiator for owners.
For investors screening rental fundamentals, the neighborhood’s occupancy level is above the national median and broadly in line with the Bakersfield metro, signaling demand that has been durable through recent cycles. Median contract rents in the neighborhood track near national mid-range levels, which—paired with a rent-to-income ratio around the low-20s—suggests manageable affordability pressure and room for revenue management without overextending tenants.
Tenure patterns indicate a meaningful renter base: roughly the low-to-mid 40% share of housing units are renter-occupied in this neighborhood, which supports depth of demand for multifamily assets and reduces leasing volatility relative to predominantly owner-occupied areas. Median home values are lower than many California metros but, relative to local incomes, ownership still represents a high-cost commitment for many households, reinforcing reliance on rental housing and aiding pricing power in stabilized properties.
Demographic statistics aggregated within a 3-mile radius show modest population and household growth in recent years with additional increases projected, pointing to a larger tenant base over the medium term. Household sizes are expected to trend slightly smaller, which can support consistent absorption of 1–2 bedroom product and sustain occupancy levels for properties like this one.
The building’s 1976 vintage is slightly older than the neighborhood’s average construction year. This typically implies capital planning for systems and interiors, but it also creates clear value-add pathways where renovations can enhance competitive positioning against newer stock while leveraging the area’s stable renter demand.
Safety indicators for the neighborhood sit below the national median and trend toward the lower quartile nationally, based on WDSuite’s data. Recent readings point to elevated property and violent offense rates compared with many U.S. neighborhoods, so investors often underwrite additional security measures and emphasize property-level controls, lighting, and operations to support resident comfort and retention.
At the metro scale (Bakersfield, 247 neighborhoods), the area compares weaker than many peers on safety. Sensible underwriting includes monitoring trend direction, coordinating with local community resources, and aligning on-site management practices with the surrounding context.
3535 S H St is a 116-unit asset with average unit sizes around the mid-800s sq. ft., positioned in a Bakersfield neighborhood that offers strong everyday amenities and an above-median national occupancy profile. According to CRE market data from WDSuite, the neighborhood’s rent levels and rent-to-income dynamics suggest manageable affordability pressure, while a meaningful share of renter-occupied housing units supports demand depth. Median home values relative to local incomes point to a high-cost ownership market in context, which helps sustain multifamily reliance and pricing power for well-operated properties.
The 1976 vintage introduces typical CapEx considerations for building systems and interiors, but it also creates a straightforward value-add thesis: targeted renovations and operational upgrades can improve competitive standing against newer inventory. Demographic trends within a 3-mile radius indicate continued growth in population and households, expanding the renter pool and supporting occupancy stability over the medium term.
- Above-national-median neighborhood occupancy supports steady leasing performance
- Strong restaurant and grocery access underpins livability and retention
- Renter-occupied share provides depth of demand and pricing flexibility
- 1976 vintage offers value-add upside alongside prudent CapEx planning
- Risk: safety metrics trail national norms—underwrite security and operations accordingly