| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Best |
| Demographics | 17th | Fair |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5051 Ming Ave, Bakersfield, CA, 93309, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1977 |
| Units | 68 |
| Transaction Date | 2006-07-27 |
| Transaction Price | $2,976,000 |
| Buyer | GSF COUNTRY CLUB INVESTORS LP |
| Seller | RAINTREE INVESTORS |
5051 Ming Ave Bakersfield CA Multifamily Investment
Neighborhood occupancy runs above the metro median and daily-needs access is strong, according to WDSuite s CRE market data, suggesting durable renter demand for a 68-unit asset in Bakersfield s inner suburb.
The property sits in an Inner Suburb neighborhood rated A- and ranked 55 of 247 within the Bakersfield metro (top quartile among metro neighborhoods). Neighborhood occupancy is above the metro median with a solid upward trend over five years, supporting leasing stability for multifamily investors.
Daily-needs access is a relative strength: the area ranks near the top of the metro for restaurants and grocery stores and sits in the mid- to high national percentiles for these amenities. Parks and cafes are limited, but pharmacy and childcare access score high within the metro, which helps with everyday convenience and resident retention.
The renter-occupied share is about 60% of housing units, indicating a deep tenant base for multifamily. Neighborhood rent levels have risen over the past five years and remain positioned to support steady absorption, while a rent-to-income profile near one-quarter suggests manageable affordability pressure and measured pricing power for operators.
Within a 3-mile radius, demographics point to a gradually expanding renter pool: population and households have grown modestly and are projected to increase further over the next five years, with household incomes also advancing. This combination generally supports occupancy stability and renewals. Average school ratings in the neighborhood trail metro and national norms, which may influence demand from family renters, but broader amenity access helps offset some of that drag.
Home values in the neighborhood trend higher relative to local incomes (high national percentile for value-to-income), creating a high-cost ownership market that can reinforce reliance on rentals and support tenant retention during renewals.
Safety indicators are mixed and should be monitored. The neighborhood s crime ranking is 213 out of 247 Bakersfield metro neighborhoods, placing it below the metro average and in a lower national safety percentile. This suggests investors should plan for robust onsite management and security practices relative to stronger-scoring parts of the metro.
Recent year-over-year changes indicate property and violent offense estimates moved higher, reinforcing the need for prudent risk controls and coordination with local resources. Positioning remains feasible for workforce housing, but underwriting should reflect this relative weakness versus safer Bakersfield sub-areas.
5051 Ming Ave offers exposure to a Bakersfield Inner Suburb that is competitive at the metro level, with neighborhood occupancy above the metro median and improving over five years. Strong daily-needs access (especially groceries and restaurants) supports resident convenience and renewal potential, while a renter-occupied share near 60% signals depth in the tenant base. Elevated value-to-income ratios at the neighborhood level point to a high-cost ownership context that can sustain multifamily demand and pricing discipline.
Within a 3-mile radius, modest population and household growth with rising incomes translates to a gradually expanding renter pool, which supports occupancy stability and leasing velocity. According to CRE market data from WDSuite, the area s amenity strengths outweigh weaker school ratings and below-average safety metrics, but investors should underwrite for proactive management and targeted capital to optimize retention and performance.
- Neighborhood occupancy above metro median with five-year improvement supports leasing stability.
- Strong restaurant and grocery access underpins day-to-day convenience and renewals.
- High-cost ownership context reinforces renter reliance, aiding pricing power and retention.
- 3-mile population and household growth indicate a gradually expanding renter pool.
- Risk: below-average safety and weaker school ratings require active management and thoughtful underwriting.