| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 19th | Fair |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 403 Real Rd, Bakersfield, CA, 93309, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1984 |
| Units | 53 |
| Transaction Date | 2001-06-07 |
| Transaction Price | $1,425,000 |
| Buyer | MARIETTI LIDO |
| Seller | ISLAND REALTY III LP |
403 Real Rd Bakersfield Multifamily Investment
This 53-unit property built in 1984 sits in a top-quartile Bakersfield neighborhood with strong occupancy fundamentals and established rental demand. CRE market data from WDSuite shows neighborhood-level occupancy at 96.2%, supporting stable cash flow expectations.
Located in an inner suburb neighborhood that ranks 25th among 247 Bakersfield metro neighborhoods, this area demonstrates solid fundamentals for multifamily investors. The neighborhood achieves an A rating with occupancy at 96.2%, indicating strong rental demand and tenant retention. With 51.2% of housing units renter-occupied, the area provides a substantial tenant base for multifamily properties.
Demographics within a 3-mile radius show a balanced population of 97,487 residents, with 57.6% of households renting rather than owning. Median household income of $56,965 supports current rent levels, while projected income growth to $76,146 by 2028 suggests improving tenant affordability over time. The area benefits from strong amenity access, ranking in the 75th percentile nationally, with notable density of childcare facilities, grocery stores, and restaurants that enhance tenant appeal.
The property's 1984 construction year aligns with the neighborhood average of 1977, indicating consistent building stock that may present value-add renovation opportunities for investors seeking to differentiate units. Current median rents of $1,022 provide room for strategic improvements, while the neighborhood's housing ranking in the 66th percentile nationally reflects solid fundamentals for rental property performance.
Safety metrics for this neighborhood require careful consideration in investment planning. The area ranks 202nd out of 247 metro neighborhoods for overall crime, placing it in the 24th percentile nationally. Property crime rates have increased significantly over the past year, while violent crime rates remain more moderate relative to national comparisons.
Investors should factor these trends into tenant screening, property management protocols, and security enhancements. The neighborhood's other strong fundamentals may help offset safety concerns through competitive amenities and location advantages, but ongoing monitoring of crime trends will be important for lease retention and property positioning.
Employment data for major nearby employers is not available in the current dataset. Investors should conduct additional research on local employment centers and major employers that could support tenant demand in this Bakersfield submarket.
This 53-unit Bakersfield property offers stable cash flow potential in a top-quartile neighborhood with 96.2% occupancy and strong rental demand fundamentals. The 1984 vintage presents value-add opportunities through strategic renovations, while demographic projections show household income growth of 33.7% and renter household expansion supporting long-term demand. According to multifamily property research from WDSuite, the neighborhood's A rating and amenity density in the 75th percentile nationally provide competitive advantages for tenant retention.
With 57.6% of area households renting and projected population growth of 17.7% through 2028, the fundamentals support sustained occupancy and potential rent growth. However, investors must carefully evaluate the neighborhood's crime trends and factor security considerations into operating plans and capital allocation decisions.
- Strong occupancy at 96.2% with established rental demand in A-rated neighborhood
- Value-add potential through 1984 vintage property improvements and unit differentiation
- Growing tenant base with 17.7% projected population growth and income expansion
- Crime trends require ongoing monitoring and may impact tenant retention strategies