| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Fair |
| Demographics | 26th | Fair |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5015 Appleblossom Dr, Bakersfield, CA, 93309, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1979 |
| Units | 34 |
| Transaction Date | 2013-11-21 |
| Transaction Price | $1,692,500 |
| Buyer | FAMILY LODGING INVESTMENT PROPERTIES LLC |
| Seller | OPULENT INVESTMENT LLC |
5015 Appleblossom Dr Bakersfield 34-Unit Multifamily
Neighborhood occupancy trends are steady and generally above metro medians, supporting income stability for a 34-unit asset, according to WDSuite’s CRE market data. Pricing power will hinge on positioning against local ownership alternatives and unit finish quality.
This Inner Suburb location in Bakersfield carries a C- neighborhood rating and shows occupancy performance above the metro median among 247 neighborhoods, per WDSuite. While the immediate area has limited neighborhood amenities (few cafés, groceries, parks, and pharmacies), the stability signal is supported by consistent renter demand at the neighborhood level and a rent-to-income profile that suggests manageable lease burdens for typical households.
At the property level, the 1979 vintage is slightly newer than the neighborhood’s average construction year of 1976. For investors, that can provide a modest competitive edge versus older stock, though selective system updates and interior modernization may still be prudent to defend occupancy and reduce near-term capital surprises.
Within a 3-mile radius, population and household counts have expanded in recent years with further growth projected, indicating a larger tenant base and potential renter pool expansion. Household incomes have risen meaningfully, which can support collections and retention if rent growth remains aligned with local earnings. This context, combined with neighborhood-level occupancy above the metro median, underpins a practical leasing thesis for stabilized operations.
Ownership costs are relatively accessible in this part of Bakersfield by national standards (low value-to-income ratios), which can introduce competition from entry-level homeownership. For multifamily owners, this argues for disciplined positioning—competitive finishes, professional management, and responsive pricing—rather than relying solely on scarcity. These dynamics are consistent with balanced markets observed in commercial real estate analysis from WDSuite.
Safety metrics for the neighborhood sit below the metro average, with crime rank positioned in the higher half of the 247 Bakersfield neighborhoods. Nationally, indicators fall around the middle of the pack for property offenses and somewhat below average for overall safety, suggesting investors should underwrite conservative security and operational measures (lighting, access control, and resident engagement).
Recent year-over-year data shows an uptick in both violent and property offense rates. While block-level conditions can vary, prudent underwriting should assume continued monitoring and modest operating expenses for security. Comparative performance may improve with management attention and standard risk-mitigation practices common to similar inner-suburban assets.
5015 Appleblossom Dr offers a 34-unit footprint in an inner-suburban Bakersfield location where neighborhood occupancy trends are above the metro median. According to CRE market data from WDSuite, the surrounding 3-mile area has seen population and household growth with further expansion projected, supporting a broader tenant base and potential leasing durability. The 1979 vintage is slightly newer than the neighborhood average, offering a modest competitive position versus older stock while leaving room for targeted upgrades to enhance retention and rent traction.
Market context points to accessible ownership costs locally, which can compete with rentals; successful strategies will emphasize value-forward renovations, service quality, and disciplined rent setting to sustain occupancy. With rents generally manageable relative to incomes and a mixed tenure profile, the asset’s thesis leans on operational execution, thoughtful capital planning, and consistent marketing to capture steady demand rather than outsized growth assumptions.
- Neighborhood occupancy above metro median supports income stability
- 1979 vintage slightly newer than area average, with selective value-add potential
- 3-mile population and household growth expand the renter base
- Manageable rent-to-income dynamics aid retention with disciplined pricing
- Risk: accessible ownership options create competition—positioning and finishes are critical