| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Fair |
| Demographics | 25th | Fair |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 408 Taylor St, Bakersfield, CA, 93309, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1972 |
| Units | 81 |
| Transaction Date | 2004-09-09 |
| Transaction Price | $4,475,000 |
| Buyer | GIGANOVA LP |
| Seller | CASA VICTORIA BAKERSFIELD LLC |
408 Taylor St Bakersfield Value-Add Multifamily
Renter demand is supported by a high neighborhood renter-occupied share and daily-needs access, with occupancy trending slightly above the metro median according to WDSuite’s CRE market data.
This Inner Suburb location is competitive among Bakersfield neighborhoods (rank 66 of 247; neighborhood rating B+). Grocery, park, and restaurant density are strengths relative to national norms, which helps day-to-day livability for residents and supports leasing. Cafes and formal childcare are thinner in the immediate area, so resident convenience skews toward essentials rather than specialty amenities.
Neighborhood occupancy sits above the metro median, and rents have risen over the past five years while remaining accessible versus higher-cost California metros. The share of housing units that are renter-occupied is elevated, indicating a deep tenant base for multifamily. In multifamily property research terms, that renter concentration typically supports steadier absorption and renewals as units turn.
Within a 3-mile radius, population has inched up in recent years and is projected to expand further over the next five years, with forecasts also pointing to an increase in households. This suggests a larger tenant base ahead and potential support for occupancy stability and lease-up velocity. Median household incomes have been rising, providing some cushion for measured rent growth, while the rent-to-income profile indicates moderate affordability pressure that can aid retention with disciplined lease management.
School ratings in the neighborhood track below national averages, which may matter for family-driven demand, yet proximity to daily services (strong national percentiles for grocery, parks, and restaurants) provides a counterbalance for workforce renters. The average construction year in the area is the mid-1970s; this property’s 1972 vintage is slightly older, highlighting classic value-add and capital planning considerations to enhance competitive positioning against nearby stock.
Safety indicators for the neighborhood trend below national benchmarks, placing it toward the lower end among Bakersfield areas (ranked closer to the bottom out of 247). National percentile readings for both property and violent offenses are on the lower side, which signals comparatively higher incident rates than many U.S. neighborhoods. Investors typically account for this with enhanced on-site operations, security measures, and resident engagement to support retention and asset performance over time.
Built in 1972 with 81 units, the property offers scale for professional management and a clear value-add path. Neighborhood fundamentals are competitive within the metro, with occupancy above the metro median and a high share of renter-occupied housing units that supports depth of demand. Within a 3-mile radius, forecasts indicate population and household growth, pointing to renter pool expansion that can underpin leasing stability. According to CRE market data from WDSuite, local rents have grown over the past five years while remaining relatively accessible versus higher-cost California markets, supporting a pragmatic pricing strategy.
Investor considerations include the asset’s older vintage—implying ongoing capex and modernization opportunities—and neighborhood safety metrics that trail national norms. Submarket-level NOI per unit trends on the lower end nationally, so outcomes rely on basis, renovation execution, and disciplined operations. Even so, strong daily-needs access and elevated renter concentration are constructive for workforce housing demand and lease retention.
- 1972 vintage positions the asset for value-add upgrades and operational improvements
- Competitive neighborhood standing in Bakersfield with occupancy above the metro median
- Elevated renter-occupied share supports a deeper tenant base and renewal potential
- 3-mile forecasts point to population and household growth, aiding leasing stability
- Risks: below-average safety metrics and lower national NOI-per-unit norms require conservative underwriting