| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Fair |
| Demographics | 17th | Fair |
| Amenities | 62nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4221 Teal St, Bakersfield, CA, 93304, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1984 |
| Units | 30 |
| Transaction Date | 2025-02-26 |
| Transaction Price | $7,250,000 |
| Buyer | TEAL TOWNHOMES LLC |
| Seller | STRINGHAM FAMILY |
4221 Teal St, Bakersfield Multifamily Investment
Neighborhood occupancy is 93.3% according to WDSuite’s CRE market data, suggesting steady renter demand in this inner-suburban Bakersfield pocket. Pricing power will hinge on maintaining value relative to nearby Class B assets and the submarket median.
This Inner Suburb neighborhood rates B+ and is competitive among Bakersfield neighborhoods (ranked 80 out of 247), with convenience-driven amenities that support daily living and leasing stability. Cafes, groceries, and pharmacies are all strong by local standards (each in the top quartile among 247 metro neighborhoods), and restaurant density is a standout, positioning the area for renter convenience and lifestyle appeal.
Amenity access trends above national averages for cafes and groceries, while parks and formal childcare options are limited locally. For investors, this mix favors working households seeking proximity to services over recreation, which can translate into stable demand for well-managed, mid-market units.
Neighborhood occupancy is 93.3% (around the metro median and modestly above national norms), and the renter-occupied share is elevated by national standards (83rd percentile). That higher renter concentration points to a deeper tenant base and supports leasing continuity, provided units are positioned competitively on finish level and effective rents.
The property’s 1984 vintage is slightly newer than the neighborhood average stock from 1980. That positioning can reduce near-term functional obsolescence versus older comparables, while still leaving room for targeted value-add—kitchens, baths, systems, and curb appeal—to capture demand. Home values in the area are near national medians, but the value-to-income ratio trends higher nationally, reinforcing sustained reliance on multifamily housing and potential retention when rent-to-income remains prudent.
Within a 3-mile radius, population and household counts have grown with additional expansion projected by 2028, indicating a larger tenant base over time. Rising median incomes in the same radius further support effective rent growth potential, while maintaining attention to affordability metrics to manage retention.
Safety conditions trend below national averages (crime metrics sit in the lower national percentiles), placing the neighborhood below the metro median for safety compared with Bakersfield peers (247 neighborhoods). Recent year-over-year readings indicate upticks in both property and violent offenses, so underwriting should assume vigilant property management, lighting, and access controls to support resident comfort and retention.
This 30-unit asset offers exposure to an inner-suburban Bakersfield location with solid renter convenience and occupancy around the metro median. Based on CRE market data from WDSuite, neighborhood occupancy at 93.3% and an elevated renter concentration point to a durable tenant base, while homeownership costs relative to incomes help sustain reliance on rental housing. The 1984 construction provides a slight edge versus older local stock and presents clear, programmatic value-add opportunities to drive rents and retention.
Forward indicators within a 3-mile radius—population growth, increasing households, and rising incomes—support a larger renter pool and the potential for steady leasing. Execution should balance rent positioning with affordability to preserve retention, and incorporate pragmatic security and site upgrades given recent crime trends.
- Occupancy near metro norms with elevated renter concentration supports demand depth.
- 1984 vintage offers value-add potential versus older neighborhood stock.
- Strong local amenity access (food, groceries, pharmacies) bolsters renter appeal.
- 3-mile population and income growth expand the tenant base and support rent durability.
- Risk: Below-average safety metrics and limited parks/childcare call for management focus and targeted site improvements.