| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Fair |
| Demographics | 25th | Fair |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5100 Ming Ave, Bakersfield, CA, 93309, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1977 |
| Units | 106 |
| Transaction Date | 2006-05-05 |
| Transaction Price | $9,250,000 |
| Buyer | MON ARC CENTER INC |
| Seller | 106 WOODSIDE CORP |
5100 Ming Ave, Bakersfield Multifamily Investment Opportunity
Neighborhood occupancy trends are steady and the renter-occupied share is high for the area, supporting a durable tenant base according to WDSuite s CRE market data.
Located in an inner-suburban pocket of Bakersfield, the surrounding neighborhood rates B+ and is competitive among Bakersfield neighborhoods (66th of 247). Amenity access is a relative strength: grocery, restaurant, and park density rank near the top locally and sit well above national norms, supporting day-to-day convenience that helps leasing and retention.
Multifamily fundamentals are favorable at the neighborhood level. Occupancy is above the national median, and the share of housing units that are renter-occupied is high (top tier locally at 14th of 247), indicating depth in the tenant pool and support for lease-up stability. Median contract rents are mid-market for the metro and have trended upward over the last five years, suggesting room for continued revenue management without overextending affordability.
Within a 3-mile radius, demographics point to a broad renter base and gradual expansion. Population and household counts have grown modestly in recent years and are projected to increase further, implying a larger tenant base and support for occupancy stability. Income growth has also advanced, which, paired with a relatively low rent-to-income burden locally, can aid renewal rates and limit turnover risk.
Ownership context is mixed but generally supportive for rentals. Home values in this area sit below many California markets, yet the value-to-income relationship trends higher than the national midpoint, which can sustain reliance on multifamily housing while still presenting some competition from entry-level ownership options. Average school ratings in the neighborhood trail national norms, which may temper appeal for some family renters, but the convenience layer (grocery, pharmacy, parks) offsets with day-to-day livability advantages.
Vintage considerations: the property was built in 1977, slightly newer than the neighborhood s 1975 average, pointing to typical 1970s systems and finishes. Investors should plan for targeted modernization and common-area upgrades to enhance competitive positioning versus newer stock while capturing value-add upside.
Safety metrics for the immediate neighborhood trail both metro and national norms. The area ranks in the lower cohort among 247 Bakersfield neighborhoods and sits in the lower national percentiles, indicating elevated reported incidents relative to many U.S. neighborhoods. Recent estimates also point to a year-over-year uptick in both property and violent offenses.
For underwriting, investors often account for this with enhanced on-site management, lighting, and access controls, and by emphasizing the neighborhood s convenience and renter demand drivers. Monitoring trend direction using WDSuite s data against metro averages can help calibrate risk over the hold period.
5100 Ming Ave is a mid-sized, 106-unit 1977-vintage asset in an inner-suburban Bakersfield location where neighborhood occupancy is above the national median and the renter-occupied share is among the highest locally. According to CRE market data from WDSuite, amenity access is a relative advantage, with strong grocery, restaurant, and park density that supports daily convenience and resident retention. The 1977 vintage suggests actionable value-add through unit modernization and building systems planning to sharpen competitiveness versus newer deliveries.
Within a 3-mile radius, population and households have inched upward and are projected to expand further, indicating a larger tenant base that can support occupancy stability. Rent levels are mid-market for the metro and, alongside a relatively modest rent-to-income burden locally, offer room for disciplined revenue management. Key underwriting considerations include safety metrics that lag regional and national peers and the potential for some competition from entry-level ownership; both are manageable with proactive operations and targeted upgrades.
- High renter-occupied share supports steady tenant demand and leasing stability
- Strong neighborhood convenience (grocery, restaurants, parks) aids retention
- 1977 vintage offers practical value-add via unit and systems modernization
- 3-mile demographics point to a growing renter pool supporting occupancy over time
- Risks: below-average safety metrics and some competition from entry-level ownership