| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Good |
| Demographics | 44th | Good |
| Amenities | 45th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3709 Wible Rd, Bakersfield, CA, 93309, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1979 |
| Units | 42 |
| Transaction Date | 2003-06-25 |
| Transaction Price | $2,562,000 |
| Buyer | SCHESTAG YUN |
| Seller | MAISON DE MONTE CARLO |
3709 Wible Rd Bakersfield Multifamily Value-Add Opportunity
Neighborhood occupancy remains competitive with the Bakersfield metro and renter demand is supported by a solid renter-occupied share, according to WDSuite’s CRE market data. The location’s everyday conveniences and steady tenant base point to stable operations with renovation upside.
Located in an inner-suburb pocket of Bakersfield, the neighborhood ranks competitive among 247 Bakersfield neighborhoods (overall neighborhood rank 19 out of 247), signaling strong fundamentals for day-to-day leasing. Neighborhood occupancy is also competitive among 247 Bakersfield neighborhoods, supporting steady cash flow potential rather than volatile lease-up risk.
Access to daily needs is favorable: restaurants and grocery options rank among the stronger concentrations locally, while cafés are relatively available. However, park and pharmacy access are limited within the neighborhood, which may modestly temper lifestyle appeal compared with amenity-rich districts. Average school ratings near 3.0 out of 5 sit above the national median, offering a reasonable education backdrop for family renters.
Construction in the immediate area skews early-1980s on average; this property’s 1979 vintage is slightly older, which points to potential value-add through modernization and targeted capital improvements to remain competitive versus newer stock. The share of housing units that are renter-occupied is elevated for the neighborhood, indicating a meaningful tenant base and reinforcing multifamily demand depth.
Within a 3-mile radius, demographic data show recent population and household growth with further gains projected, supporting a larger tenant base and occupancy stability over time. Median home values in the neighborhood are lower than many California markets, which can sustain rental demand, while rent-to-income ratios around the area suggest room for disciplined pricing without outsized retention risk. These dynamics, based on commercial real estate analysis from WDSuite, frame a pragmatic path for income durability.
Safety indicators are mixed and warrant conservative underwriting. The neighborhood’s crime rank sits in the lower tier versus the Bakersfield metro (rank 210 out of 247 neighborhoods), and national comparisons place it below the median for safety. Recent year-over-year estimates show increases in both property and violent offenses, so investors should account for security measures and operational best practices in the business plan.
While many Bakersfield districts show similar urban dynamics, thoughtful design upgrades, lighting, access control, and resident engagement can help support tenant retention and reduce incident exposure. Framing expectations against metro and national benchmarks helps contextualize risk without overstating block-level conditions.
Bakersfield’s diverse employment base and regional logistics, healthcare, and public-sector roles provide a broad commuter pool that supports workforce housing demand and leasing stability near the property.
This 1979, 42-unit asset aligns with a neighborhood that ranks competitive among 247 Bakersfield neighborhoods and exhibits steady occupancy, according to CRE market data from WDSuite. Slightly older vintage creates a clear value-add path—modernizations can sharpen positioning against early-1980s peers while leveraging a sizable renter-occupied share and consistent day-to-day demand drivers.
Within a 3-mile radius, population and household growth point to a larger tenant base ahead, and neighborhood rent-to-income dynamics suggest manageable affordability pressure that can support retention with disciplined rent management. Local amenities—especially groceries and restaurants—are a convenience tailwind, though limited parks and pharmacy access and below-median safety metrics should be underwritten with prudent reserves and operating controls.
- Competitive neighborhood ranking and occupancy support income stability
- 1979 vintage offers renovation and operational value-add potential
- 3-mile population and household growth expand the renter pool
- Strong everyday amenities (grocery, dining) enhance leasing appeal
- Risks: below-median safety, limited parks/pharmacies—plan for security and reserves