| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 36th | Good |
| Amenities | 43rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5300 Fairfax Rd, Bakersfield, CA, 93306, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1980 |
| Units | 64 |
| Transaction Date | 2004-07-12 |
| Transaction Price | $2,304,500 |
| Buyer | HIGHLAND OAKS APARTMENTS LLC |
| Seller | GLOVER CV22 LLC |
5300 Fairfax Rd Bakersfield Multifamily Investment
Neighborhood fundamentals point to steady renter demand and workable pricing power, according to CRE market data from WDSuite, with occupancy holding above national medians and rent levels competitive for Bakersfield’s inner suburbs.
The property sits in an Inner Suburb of Bakersfield with an A- neighborhood rating (ranked 62 out of 247 metro neighborhoods). Rent levels are above the metro median (rank 49 of 247; ~74th percentile nationally), supporting revenue durability, while neighborhood occupancy trends sit modestly above national medians. These indicators suggest a tenant base deep enough to support lease-up and retention without relying on outsized concessions, based on CRE market data from WDSuite.
Daily needs are well covered: grocery access is competitive among Bakersfield neighborhoods (rank 33 of 247; ~92nd percentile nationally) and pharmacies are also strong (rank 31 of 247; ~87th percentile nationally). Dining options register solidly (rank 63 of 247; ~76th percentile nationally). However, parks, cafes, and childcare options are limited in the immediate neighborhood, which may modestly temper lifestyle appeal for some renter segments.
Schools average about 2.0 out of 5 (rank 46 of 247; ~37th percentile nationally). For family-oriented demand, operators should calibrate expectations and focus on property-level amenities and services to bolster leasing competitiveness versus submarkets with stronger school ratings.
Construction year for the asset is 1980 versus a neighborhood average of 1977. Being slightly newer than the surrounding stock can aid competitive positioning, though investors should still plan for system upgrades and selective renovations to capture value-add upside and maintain pricing relative to refreshed comps.
Tenure patterns indicate a moderate renter-occupied share in the immediate neighborhood, supporting a stable base of multifamily demand. Demographic statistics aggregated within a 3-mile radius show recent population growth with households roughly steady and incomes trending upward, pointing to a larger tenant base over time and potential support for occupancy stability and measured rent growth.
Ownership costs in the area are not low by local standards, and elevated home values relative to incomes can sustain reliance on multifamily options. This context generally supports lease retention and reduces move-outs to ownership during typical cycles, while vigilance on rent-to-income ratios remains prudent for lease management.
Safety trends are mixed in this Bakersfield neighborhood. Overall crime ranks 188 out of 247 metro neighborhoods, indicating safety levels below the metro average and below the national median (about the 27th percentile nationally). Violent incidents track closer to national midrange (around the 50th percentile), while recent estimates suggest a notable uptick in property crime that warrants ongoing monitoring.
For investors, the takeaway is operational: emphasize lighting, access controls, and resident engagement, and align insurance and security budgets with area norms. Tracking multi-year trends and nearby enforcement or community initiatives can help assess whether recent shifts are temporary or persistent.
This 64-unit asset built in 1980 offers a practical value-add and income-preservation profile for Bakersfield’s Inner Suburbs. Rent positioning is above the metro median and neighborhood occupancy has held modestly above national medians, indicating a sufficiently deep renter pool to support leasing and retention through typical cycles. Within a 3-mile radius, population growth and rising incomes point to gradual renter pool expansion, which can support occupancy stability and measured pricing over time.
The vintage is slightly newer than the neighborhood average, helping competitive positioning versus older stock, yet the asset likely benefits from targeted renovations and system updates to capture rent premiums. According to WDSuite’s commercial real estate analysis, local amenity access is strongest for daily-needs retail (grocery and pharmacy), while parks and cafes are thinner—suggesting on-site amenities and management quality will be key differentiators. Operators should balance the supportive demand backdrop with prudent risk controls around safety trends and rent-to-income management.
- Rent levels above metro median support revenue durability
- Occupancy above national medians indicates stable tenant base
- Slightly newer 1980 vintage with value-add and modernization upside
- Strong daily-needs access (grocery, pharmacy) aids retention
- Risk: mixed safety signals and limited parks/cafes require operational focus