| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 41st | Poor |
| Demographics | 39th | Good |
| Amenities | 27th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 500 W Columbus St, Bakersfield, CA, 93301, US |
| Region / Metro | Bakersfield |
| Year of Construction | 2013 |
| Units | 56 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
500 W Columbus St Bakersfield Multifamily Investment
2013 vintage multifamily positioned against older neighborhood stock suggests relative competitiveness and potential leasing appeal, according to CRE market data from WDSuite. The area shows a sizable renter base at the 3-mile level, supporting demand even as neighborhood occupancy trends run below metro medians.
The property’s 2013 construction stands newer than the neighborhood’s typical 1970s-era housing, a positioning that can reduce near-term capital items while offering modern finishes that compete well for tenants. At the neighborhood scale, rents trend below national medians and the renter-occupied share is meaningful, indicating a viable base of demand for workforce-oriented units. By contrast, within a 3-mile radius, renter households comprise the majority of occupied units, broadening the tenant pool and supporting leasing velocity.
Local amenity density inside the neighborhood is limited for cafes, groceries, childcare, and parks, while restaurant availability is moderately represented. A notable exception is pharmacy access, which ranks near the top of the metro and compares favorably on a national basis. For investors, this mix points to practical daily-needs access but fewer destination amenities, which can influence marketing, concessions strategy, and resident services programming.
Neighborhood occupancy rates sit below the metro median among 247 Bakersfield neighborhoods, which may translate into more competitive leasing conditions and a need for sharper asset management. However, 3-mile demographics show population growth over the past five years, a rising household count, and projections for additional household gains by 2028; together these trends suggest a larger tenant base over time, reinforcing demand durability for well-positioned assets. All demographic statistics are aggregated within a 3-mile radius.
Home values in the immediate area are lower relative to many California markets. That ownership context can create some competition with entry-level buying but also underscores the role of rental housing for households prioritizing flexibility. With neighborhood rent-to-income ratios elevated, investors should emphasize affordability-aware leasing and renewal strategies to support retention while maintaining occupancy stability.
Safety indicators for the neighborhood track below both metro and national medians, placing it in a lower tier compared with many Bakersfield subareas. In rank terms, the area sits below the metro median among 247 neighborhoods, and national percentiles indicate it is less safe than a majority of neighborhoods nationwide.
Recent data also show a year-over-year uptick in reported violent and property offenses at the neighborhood level. Investors typically respond with pragmatic measures such as lighting, access control, and community engagement, and should underwrite to current conditions rather than assuming rapid reversion. These trends are presented for neighborhood context rather than the specific property.
Built in 2013 and totaling 56 units, 500 W Columbus St offers newer-vintage multifamily in a submarket dominated by older stock, which can support competitive positioning and reduce immediate capital planning relative to legacy assets. While neighborhood occupancy runs below the metro median, the 3-mile radius shows population growth, an expanding household base, and a majority renter concentration—factors that can sustain demand for well-managed, value-conscious product. According to CRE market data from WDSuite, local rents benchmark below national medians, pointing to an affordability lane for pricing and renewals, while elevated rent-to-income ratios argue for careful lease management to support retention.
Amenity density within the neighborhood is thin outside of strong pharmacy access and moderate restaurant presence, which suggests targeted marketing and resident services can help drive leasing outcomes. Given the safety profile trends and affordability pressures noted at the neighborhood level, underwriting should incorporate prudent operating assumptions alongside the asset’s competitive vintage and the broader 3-mile renter pool expansion.
- 2013 construction competes well against older neighborhood stock, with potential near-term capex efficiencies.
- Majority renter concentration within 3 miles expands the tenant base and supports occupancy stability.
- Rents below national medians enable an affordability-focused positioning and renewal strategy.
- Lean neighborhood amenities call for focused marketing and resident programming to aid retention.
- Risks: below-median neighborhood safety and elevated rent-to-income ratios require disciplined underwriting and collections oversight.