| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Best |
| Demographics | 17th | Fair |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4948 Buckley Way, Bakersfield, CA, 93309, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1995 |
| Units | 21 |
| Transaction Date | 1994-05-10 |
| Transaction Price | $275,000 |
| Buyer | JOSHUA TREE APARTMENTS INC |
| Seller | CAWLEY JOHN J |
4948 Buckley Way Bakersfield Multifamily Investment
Neighborhood-level occupancy is solid with renter demand supported by nearby retail conveniences, according to WDSuite’s CRE market data, offering investors a stable backdrop for operations at the property level.
The property sits in an Inner Suburb pocket of Bakersfield that rates A- at the neighborhood level and ranks 55 out of 247 metro neighborhoods — a top quartile position within the metro that signals broadly competitive fundamentals relative to local peers. Neighborhood occupancy trends are healthy and above many U.S. areas, supporting day-to-day leasing stability rather than heavy concession reliance.
Local conveniences are a clear strength: grocery and pharmacy access rank near the top of the Bakersfield metro (3rd and 23rd of 247 neighborhoods, respectively), and restaurants are dense (2nd of 247), which can aid resident retention and leasing velocity. On the other hand, parks and cafés are limited in the immediate area (both rank 247th of 247), so investors should lean on the strong retail mix and commute access rather than green-space appeal when positioning the asset.
The area skews more renter-oriented, with a high share of housing units that are renter-occupied (ranked 37th of 247, top quartile among Bakersfield neighborhoods). For multifamily owners, that indicates a deeper tenant base and generally steadier absorption across cycles. Median home values in the neighborhood are elevated relative to local incomes (value-to-income sits in a high national percentile), which reinforces reliance on rental housing and can support pricing power, while rent-to-income readings are comparatively manageable — useful for retention and lease management.
Vintage matters: the asset was constructed in 1995, newer than the neighborhood’s average 1977 build year. That relative youth can temper near-term capital expenditure needs versus older local stock and provides optionality for targeted value-add upgrades to further differentiate units in a renter-heavy submarket.
Within a 3-mile radius, demographics show recent population and household growth with projections pointing to additional increases over the next several years. A growing household count and a substantial 18–34 cohort signal a larger tenant base ahead, which supports occupancy stability and ongoing demand for rental units. These dynamics, based on CRE market data from WDSuite, frame the submarket as demand-supported while still requiring disciplined affordability and renewal strategies.
Safety indicators for the neighborhood are weaker than many Bakersfield submarkets and trail national comparables. Crime ranks 213 out of 247 metro neighborhoods, indicating higher incident levels relative to the metro average, and national safety percentiles sit on the lower end. Recent year estimates suggest property and violent offenses have moved up, so operators should budget for security-minded measures (lighting, access controls, partnerships with local patrols) and reflect this in underwriting assumptions.
Investors should evaluate block-by-block conditions during site visits and compare trends to nearby neighborhoods that perform above the metro median, balancing the area’s renter demand and retail access with prudent risk management.
4948 Buckley Way offers a practical workforce housing play in an Inner Suburb location with competitive neighborhood standing and a deep renter base. According to CRE market data from WDSuite, the neighborhood posts solid occupancy and a top-quartile renter concentration within Bakersfield, while elevated ownership costs relative to incomes help sustain reliance on multifamily. The asset’s 1995 vintage is newer than the area’s average, providing a platform for targeted interior and common-area updates to capture value-add upside without the systemic risks of much older stock.
Leasing is supported by dense retail, grocery, and pharmacy access that can drive retention, though limited park and café amenities and below-average safety metrics warrant conservative expense planning and proactive resident experience management. Near-term fundamentals appear stable, and forward 3-mile demographic projections point to a larger tenant base, supporting occupancy and renewal performance when paired with disciplined affordability and leasing strategies.
- Renter-heavy neighborhood supports depth of tenant demand and steady absorption
- 1995 vintage vs. older local stock enables targeted renovations with manageable capex
- Strong retail, grocery, and pharmacy access aids leasing velocity and retention
- Elevated ownership costs relative to incomes reinforce multifamily reliance and pricing power
- Risks: weaker safety indicators and limited parks/cafés call for security investment and careful positioning