| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Fair |
| Demographics | 17th | Fair |
| Amenities | 62nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4211 Teal St, Bakersfield, CA, 93304, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1984 |
| Units | 28 |
| Transaction Date | 2025-02-26 |
| Transaction Price | $7,250,000 |
| Buyer | TEAL TOWNHOMES LLC |
| Seller | STRINGHAM FAMILY |
4211 Teal St Bakersfield Multifamily Investment
This 28-unit property built in 1984 offers value-add potential in a neighborhood with above-average occupancy rates and strong restaurant density. According to CRE market data from WDSuite, the area maintains 93.3% occupancy despite elevated crime metrics.
The property sits in an inner suburb neighborhood that ranks 80th among 247 metro neighborhoods with a B+ rating. Built in 1984, this vintage aligns with the neighborhood average construction year of 1980, indicating potential for value-add improvements and modernization to capture higher rents. The neighborhood demonstrates solid rental fundamentals with 43.6% of housing units occupied by renters, ranking in the 83rd national percentile for rental share.
Occupancy metrics show neighborhood-level stability at 93.3%, ranking above metro median at 128th of 247 neighborhoods. Median contract rents of $994 position the area competitively within the Bakersfield market, with 19.5% rent growth over the past five years. Demographics within a 3-mile radius support rental demand, with a population of 142,872 showing 5% growth and household income increasing 32.1% to $58,918 median.
The area benefits from exceptional restaurant density at 19.81 per square mile, ranking 4th among metro neighborhoods and in the 96th national percentile. Grocery access is strong with 3.50 stores per square mile (92nd national percentile), while cafe density of 1.17 per square mile ranks in the 88th percentile nationally. However, the neighborhood lacks parks and childcare facilities, ranking last among metro areas for both amenities.
Demographic projections within the 3-mile radius indicate continued rental demand growth, with households forecast to increase 40.5% by 2028 and median income projected to reach $82,707. The renter pool expansion from current levels supports occupancy stability, though elevated home values at 4.58 times income may reinforce rental demand by keeping ownership costs elevated relative to renting options.
Safety metrics present mixed signals that require careful tenant screening and property management attention. The neighborhood ranks 209th of 247 metro neighborhoods for overall crime, placing it in the 21st national percentile. Property offense rates of 943 per 100,000 residents rank 197th among metro neighborhoods, while violent crime at 171 per 100,000 residents ranks 211th of 247 neighborhoods.
Recent trends show concerning increases, with property crime rising 85% year-over-year and violent crime up 69.9%. These metrics rank in the bottom quartile nationally for crime rate changes, suggesting investors should factor enhanced security measures and potentially higher tenant turnover into operating assumptions. The safety profile may impact lease-up velocity and require competitive concessions or enhanced property management protocols.
Employment data for major anchor employers near this property location is not available in the current dataset. Investors should conduct independent research on local employment centers and commute patterns to assess workforce housing demand in this Bakersfield submarket.
This 28-unit property offers value-add potential through a combination of 1984 vintage requiring modernization and solid rental fundamentals in the broader market. The neighborhood maintains above-average occupancy at 93.3% despite safety challenges, while strong restaurant and grocery density supports tenant retention. Demographics within a 3-mile radius show household growth of 40.5% projected through 2028, expanding the renter pool and supporting long-term demand.
The area's rental share of 43.6% ranks in the 83rd national percentile, indicating established rental demand, while median rents of $994 with 19.5% five-year growth demonstrate pricing power. However, elevated crime metrics ranking in the bottom quartile nationally require enhanced property management and may impact operating expenses and tenant quality.
- Above-average neighborhood occupancy at 93.3% indicates rental demand stability
- Strong amenity access with top-tier restaurant and grocery density supports tenant appeal
- 1984 construction year offers value-add upside through unit renovations and property improvements
- Projected 40.5% household growth within 3-mile radius expands future tenant base
- Risk: Elevated crime rates rank bottom quartile nationally, requiring enhanced security and management protocols