| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 38th | Poor |
| Demographics | 11th | Poor |
| Amenities | 26th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 507 McCord Ave, Bakersfield, CA, 93308, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1986 |
| Units | 22 |
| Transaction Date | 2001-06-04 |
| Transaction Price | $318,000 |
| Buyer | HOLT ERNEST E |
| Seller | HOLT ERNEST E |
507 McCord Ave, Bakersfield CA Multifamily Investment
Renter concentration in the neighborhood is high, supporting depth of tenant demand even as occupancy trends track near the metro middle, according to WDSuite’s CRE market data.
The immediate area functions as an inner-suburban rental market within Bakersfield. Neighborhood occupancy is roughly in line with metro norms, while a high share of renter-occupied housing units (measured at the neighborhood level) points to a sizable tenant base and generally steady leasing velocity. Median contract rents for the neighborhood sit on the lower side for the region, which can aid lease-up and renewal strategies when positioned correctly.
Amenity access is mixed: grocery availability ranks Above metro median among 247 Bakersfield neighborhoods and is competitive nationally (around the 87th percentile), while restaurants are solidly represented (around the 70th percentile nationally). By contrast, parks, pharmacies, cafes, and childcare are sparse within the neighborhood itself, indicating residents may rely more on conveniences a short drive away rather than within walking distance.
The property’s 1986 construction is newer than the neighborhood’s older housing stock (average vintage 1959 across 247 neighborhoods), suggesting relative competitiveness versus nearby mid‑century assets. Investors should still plan for selective modernization and systems upkeep typical for 1980s product to maintain appeal and support rent positioning.
Within a 3‑mile radius, demographic data show population and household growth over the last five years, with projections indicating further increases and a gradual shift toward smaller household sizes. These trends expand the potential renter pool and can support occupancy stability. However, very low average school ratings at the neighborhood level (lower percentiles nationally) may temper appeal for some family renters, which should be considered in unit-mix strategy and marketing.
Ownership costs in the neighborhood are relatively modest versus national benchmarks, which can introduce competition from entry-level homeownership. Even so, the neighborhood’s high renter-occupied share indicates persistent demand for multifamily housing. Rent-to-income ratios trend higher than many U.S. submarkets, so operators should emphasize retention and thoughtful rent management to balance affordability pressure with revenue goals.
Neighborhood-level crime metrics were not available in the current dataset for this location. Investors typically benchmark safety by comparing neighborhood trends to city and metro patterns over time, evaluating on-site measures, and reviewing third-party sources for additional context. Use a consistent, apples-to-apples methodology when comparing Bakersfield neighborhoods to avoid over- or under-weighting isolated incidents.
507 McCord Ave is a 22‑unit 1986-vintage asset positioned in an inner-suburban Bakersfield neighborhood with a deep renter base and rents that skew more attainable for the metro. The vintage allows for targeted value-add—kitchen/bath updates and common-area improvements—to enhance competitiveness versus older local stock. According to CRE market data from WDSuite, the neighborhood’s renter concentration is high and occupancy trends sit near the metro middle, supporting stable day-to-day operations with room for management-driven NOI gains.
Within a 3‑mile radius, population and households have grown and are projected to expand further, creating a larger tenant base even as average household size edges lower. While neighborhood schools rate in lower national percentiles and ownership remains relatively accessible—both potential headwinds for some cohorts—lower absolute rent levels, solid grocery and dining access, and targeted renovations can sustain leasing and retention.
- 1986 construction offers value‑add potential to outcompete older neighborhood stock.
- High neighborhood renter concentration supports depth of tenant demand and leasing stability.
- 3‑mile population and household growth expands the renter pool and supports occupancy.
- Lower relative rent levels can aid renewal strategy while pursuing pragmatic upgrades.
- Risks: relatively accessible ownership options, lower school ratings, and limited nearby parks/cafes may temper demand from some households.