| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Best |
| Demographics | 32nd | Fair |
| Amenities | 30th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4021 Mc Cray St, Bakersfield, CA, 93308, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1972 |
| Units | 120 |
| Transaction Date | 2017-07-31 |
| Transaction Price | $12,975,000 |
| Buyer | AUTUMN GLEN APARTMENTS LLC |
| Seller | BASCOM BAKERSFIELD PORTFOLIO LLC |
4021 Mc Cray St Bakersfield Multifamily Investment
This 120-unit property built in 1972 offers value-add potential in a neighborhood with 94.6% occupancy and strong rental demand, according to CRE market data from WDSuite.
This inner suburb neighborhood ranks in the top quartile among 247 Bakersfield metro neighborhoods for housing fundamentals, with 62.2% of housing units occupied by renters supporting consistent multifamily demand. The area maintains 94.6% occupancy rates, well above many comparable markets, while median contract rents of $1,175 provide stable income potential for investors.
Demographics within a 3-mile radius show 36,516 residents with projected growth to 38,418 by 2028, expanding the potential tenant base by 5.2%. The renter-occupied share of 63.4% reinforces rental housing reliance, while forecasted median household income growth from $46,867 to $84,373 indicates improving tenant quality and rent growth potential over the investment horizon.
The property's 1972 construction year presents capital expenditure considerations but also value-add renovation opportunities in a market where newer construction averages 1995. Home values averaging $414,849 with a 6.0 value-to-income ratio limit ownership accessibility, sustaining rental demand and supporting tenant retention in this price-conscious market.
Safety data for this specific neighborhood is not available in current market reports, limiting direct comparative analysis against metro or regional trends. Investors should conduct independent due diligence on local crime patterns and security considerations as part of their investment evaluation process.
Employment data for major anchor employers near this property location is not available in current market research, limiting analysis of workforce-driven rental demand drivers.
This 120-unit property offers investors exposure to a stable rental market with 94.6% neighborhood occupancy and strong demographic tailwinds. The 1972 vintage presents value-add renovation opportunities while benefiting from a heavily rental market where 62.2% of housing units are renter-occupied. Projected population growth of 5.2% through 2028 and forecasted median income increases from $46,867 to $84,373 support both occupancy stability and future rent growth potential.
The investment benefits from Bakersfield's housing affordability dynamics, where home values averaging $414,849 create barriers to ownership and sustain rental demand. Compact 424 square foot average unit sizes align with affordability-focused tenant demographics while offering operational efficiency advantages for property management and maintenance.
- Strong neighborhood occupancy at 94.6% indicates stable rental demand
- Value-add potential through renovation of 1972-vintage property
- Population growth of 5.2% projected through 2028 expands tenant base
- High home values sustain rental housing reliance in market
- Risk: Older construction requires capital expenditure planning and maintenance reserves