| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Best |
| Demographics | 17th | Fair |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4249 Parker Ave, Bakersfield, CA, 93309, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1972 |
| Units | 32 |
| Transaction Date | 1996-05-22 |
| Transaction Price | $667,000 |
| Buyer | FEDDE WILLIAM S |
| Seller | LEE YOUNG C |
4249 Parker Ave Bakersfield Multifamily Investment Outlook
Neighborhood occupancy trends sit above the metro median with a deep renter base, according to WDSuite’s CRE market data, suggesting steady leasing fundamentals for a 32‑unit asset. A 1972 vintage introduces practical value‑add levers alongside durable workforce demand.
Located in an Inner Suburb pocket of Bakersfield, the neighborhood posts an A- rating and ranks 55th out of 247 metro neighborhoods, positioning it above the metro median. Occupancy for the neighborhood is also above the metro median and in the top third nationally, supporting expectations for stable tenancy rather than outsized vacancy risk.
Renter concentration is high: the share of renter-occupied housing is in the top quartile among the 247 Bakersfield neighborhoods and scores very strong nationally. For investors, that depth of renter households indicates a broad tenant pool and supports leasing durability. Median contract rents in the area remain around national midpack, and the rent-to-income ratio trends on the lower side locally, which can aid retention and limit turnover-related friction.
Amenity access is mixed. The neighborhood ranks near the top of the metro for grocery and restaurant density, with national performance in the upper percentiles, while parks and cafes are limited. Average school ratings trend well below national norms, which may influence unit mix positioning toward workforce renters. This balance of conveniences and constraints should be weighed in commercial real estate analysis, using local comps to calibrate finishes and rent positioning.
The property’s 1972 construction is slightly older than the neighborhood’s average vintage (late-1970s), pointing to potential value‑add through interior updates and systems modernization. Home values in the neighborhood are elevated relative to local incomes (high value-to-income standing), which tends to sustain reliance on multifamily rentals and can reinforce pricing power at prudent levels. Within a 3‑mile radius, population and household counts have grown modestly over the past five years, with projections calling for further increases; this implies a gradually expanding renter pool that can support occupancy stability, based on CRE market data from WDSuite.
Safety indicators for this neighborhood trail both national norms and the Bakersfield metro median. The area ranks in the lower half for crime among 247 metro neighborhoods and sits in a lower national percentile for safety, indicating comparatively higher reported incident rates than many peer areas. Recent data also signals a year‑over‑year uptick in both property and violent offense estimates, which investors typically underwrite through security measures, insurance assumptions, and operational oversight.
Given these dynamics, it is prudent to benchmark against nearby Bakersfield submarkets and to monitor trend direction during due diligence, using the same methodology over time for apples‑to‑apples comparisons.
This 32‑unit asset at 4249 Parker Ave is supported by above‑median neighborhood occupancy and a top‑quartile renter concentration within the Bakersfield metro, pointing to demand depth and steady leasing. The 1972 vintage offers clear value‑add pathways—interior updates and systems modernization—to improve competitive positioning versus newer stock while keeping capital planning disciplined. Elevated home values relative to incomes in the immediate area tend to sustain reliance on rentals, while a 3‑mile radius shows modest population and household growth with further increases projected, reinforcing the tenant base. According to CRE market data from WDSuite, neighborhood rents sit near national midpack with relatively manageable rent‑to‑income readings, a backdrop that can support retention.
Balance these positives with underwriting for below‑average school ratings and safety metrics that lag the metro median. Calibrating finishes and amenities to workforce demand, and aligning rents with local affordability bands, can help maintain occupancy and control turnover.
- Above‑median neighborhood occupancy and deep renter base support leasing stability
- 1972 vintage presents value‑add potential through unit upgrades and systems
- Elevated ownership costs locally reinforce demand for rental housing
- 3‑mile population and household growth expands the renter pool over time
- Risks: lagging school ratings and safety metrics require prudent underwriting