| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 41st | Poor |
| Demographics | 39th | Good |
| Amenities | 27th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3800 Q St, Bakersfield, CA, 93301, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1978 |
| Units | 72 |
| Transaction Date | 2014-10-28 |
| Transaction Price | $3,207,500 |
| Buyer | BAK SANTA CLARITA APARTMENTS LP |
| Seller | SANTA CLARITA APARTMENTS LP |
3800 Q St Bakersfield Multifamily Investment Opportunity
The immediate neighborhood shows a renter-occupied share near half and occupancy in the mid‑80% range, indicating a durable tenant base at the submarket level according to WDSuite’s CRE market data. For investors, this points to consistent demand fundamentals with room to enhance performance through targeted operations.
Located in an inner-suburban pocket of Bakersfield, the area rates C+ and stands above the metro median on overall amenities when compared with 247 Bakersfield neighborhoods. Restaurant density tracks around the 65th percentile nationally, while walkable daily-needs options like grocery and parks are limited; notably, pharmacy access is strong, ranking among the top locations nationally. For an investment lens, this mix supports day-to-day convenience while signaling that residents may still rely on short drives for a broader amenity set.
Neighborhood multifamily indicators point to a sizable renter base: the share of housing units that are renter-occupied is just under half at the neighborhood level, supporting depth of demand for workforce-oriented units. Neighborhood occupancy trends sit in the mid‑80% range, which suggests leasing is steady but may benefit from focused marketing, renewals, and unit-level upgrades to capture and retain demand.
Within a 3‑mile radius, demographics show population growth over the past five years with additional gains projected, alongside a rising household count and gradually smaller household sizes. These trends generally expand the renter pool and can support occupancy stability and absorption, especially for smaller formats. Median contract rents in the 3‑mile area remain modest relative to coastal California, which can sustain workforce demand while leaving room for measured rent steps tied to renovations and service levels.
Home ownership costs in the immediate neighborhood are relatively accessible by California standards, which can introduce some competition with ownership alternatives; however, the strong renter concentration in the 3‑mile area and population growth support a durable tenant base. For investors, the takeaway is balanced: demand depth is present, but effective leasing and retention strategies will be important to maintain pricing power.
Safety conditions in the neighborhood are below the Bakersfield metro average and sit in the lower national percentiles, indicating comparatively higher reported crime than many U.S. neighborhoods. For investors, this calls for pragmatic asset management measures such as lighting, access control, and resident engagement to support retention and leasing.
Recent estimates also point to year‑over‑year increases in both property and violent offenses at the neighborhood level. While conditions can vary block to block, underwriting should incorporate thoughtful security planning and partnership with local resources, with the goal of stabilizing operations and sustaining occupancy.
Built in 1978 across 72 units with an average unit size around 500 sq. ft., the property aligns with workforce housing demand and lends itself to value‑add strategies such as interior refreshes and common‑area enhancements. Based on commercial real estate analysis from WDSuite, the surrounding neighborhood maintains mid‑80% occupancy with a renter base near half, while the broader 3‑mile area shows population growth and a rising household count—factors that can support tenant base expansion and occupancy stability.
Operations should weigh affordability pressure and safety considerations against the area’s demand drivers. Neighborhood rent‑to‑income levels signal careful lease management is prudent, but modest local rents and a growing renter pool can underpin steady absorption, particularly for smaller formats that lease quickly when positioned well.
- Workforce demand profile with growing 3‑mile renter pool supporting occupancy stability
- 1978 vintage presents clear value‑add potential through unit and common‑area upgrades
- Smaller average unit size (~500 sq. ft.) aligns with attainable rents and leasing velocity
- Neighborhood amenities are mixed—strong pharmacy access and dining balance limited walkable groceries/parks
- Risks: below‑average safety and affordability pressure require proactive security, renewals, and resident retention strategy