| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 19th | Fair |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4451 California Ave, Bakersfield, CA, 93309, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1972 |
| Units | 83 |
| Transaction Date | 2000-05-04 |
| Transaction Price | $657,000 |
| Buyer | TRENDA FAMILY LTD PARTNERSHIP |
| Seller | KERN LANDMARK PROPERTIES |
4451 California Ave Bakersfield Multifamily Investment
Positioned in an inner-suburban Bakersfield neighborhood with stable renter demand and high occupancy, this asset benefits from durable fundamentals, according to WDSuite s CRE market data. The area s ownership costs relative to incomes support sustained reliance on rentals, aiding retention and pricing discipline.
The property sits in an Inner Suburb location rated A and ranked 25 out of 247 Bakersfield neighborhoods, placing it in the top decile locally. Neighborhood occupancy is strong around the high-90s (96.2% reported), and the share of renter-occupied housing units is near half (51.2%), indicating a deep tenant base and demand stability. Median contract rents are mid-market locally, and the rent-to-income relationship suggests manageable affordability pressure that can support lease retention.
Amenity access is a relative strength: grocery, parks, and pharmacies rank in the upper tiers of the metro and fall into high national percentiles (mid-80s to mid-90s), while restaurant density is well above national norms. Cafe density is thinner by comparison. Average school ratings in the neighborhood are low, which can influence family renter preferences and marketing strategy.
Within a 3-mile radius, demographics show modest recent population growth with expectations for further expansion in the medium term, alongside a larger household count and slightly increasing household sizes. These factors point to a gradually expanding renter pool, supporting occupancy stability and absorption potential. In this context, multifamily property research indicates the submarket functions as accessible workforce housing relative to California s coastal metros.
Home values in the neighborhood are lower than many California markets, yet the value-to-income ratio ranks high nationally, indicating a high-cost ownership market relative to local incomes. This landscape tends to reinforce sustained rental demand and can aid lease-up and renewal pricing, while the neighborhood s median contract rents and rent-to-income levels suggest room for disciplined revenue management rather than aggressive pushes.
Vintage is 1972, older than the neighborhood s average vintage (late-1970s). For investors, that typically implies attention to capital planning and a potential value-add path through unit renovations and system upgrades to improve competitive positioning versus newer stock.
Safety metrics for this neighborhood are weaker than many Bakersfield areas and below national medians, based on WDSuite s data. The neighborhood s crime rank is toward the higher end (202 out of 247 metro neighborhoods), and national percentiles suggest safety sits in lower tiers compared with neighborhoods nationwide. Recent year-over-year trends indicate property and violent offense rates have seen upticks, so underwriting should account for security measures and tenant-experience management.
Investors should compare recent local trendlines against city and metro benchmarks, evaluate property-level controls, and consider operating practices (lighting, access control, resident engagement) that can support retention and tenant satisfaction. As always, rely on updated local reports and property-specific history for final diligence.
The area draws from a diversified Bakersfield employment base within typical commuting range, supporting workforce housing demand and lease stability.
This 83-unit 1972 vintage asset leverages a high-occupancy Inner Suburb location with broad renter participation and mid-market rents that support retention. According to CRE market data from WDSuite, neighborhood occupancy is elevated versus national norms, and local ownership costs relative to incomes encourage continued reliance on rentals, reinforcing depth of demand. Amenity access (grocery, parks, pharmacies, and restaurants) is a clear local advantage for daily convenience and leasing appeal.
Within a 3-mile radius, recent population gains and projected increases in households point to a larger tenant base over the medium term, supporting occupancy stability and absorption. Given the 1972 vintage, a targeted capex and renovation program could unlock value-add upside and strengthen competitive positioning against newer offerings, while disciplined revenue management can balance pricing power with renter affordability to sustain performance.
- High neighborhood occupancy and broad renter participation support durable cash flow.
- Amenity-dense location (grocery, parks, pharmacies, restaurants) enhances leasing appeal.
- Ownership costs relative to local incomes reinforce reliance on rentals, aiding retention.
- 1972 vintage offers value-add potential through unit upgrades and systems modernization.
- Risks: below-average safety metrics and low school ratings warrant operating controls and careful underwriting.