| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 42nd | Good |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5301 Lennox Ave, Bakersfield, CA, 93309, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1975 |
| Units | 104 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
5301 Lennox Ave, Bakersfield — 104-Unit Value-Add Multifamily
Neighborhood occupancy is strong and renter demand is deep, according to WDSuite’s CRE market data, supporting stable operations for a 1975-vintage asset with scale. A balanced renter-occupied share and steady household growth in the 3-mile area point to consistent leasing fundamentals.
This Inner Suburb location is competitive among Bakersfield neighborhoods (10 of 247, A+), with neighborhood-level occupancy of 97.7% and rents positioned above many national peers. According to WDSuite’s CRE market data, the area shows a renter-occupied share near half of housing units (50.5%), indicating a broad tenant base that supports leasing stability.
Local amenity access is a strength for day-to-day livability: restaurants and cafes index in the low-90s nationally by density, groceries and pharmacies land around the 80s, and park access sits in the mid-90s percentile. These convenience nodes typically help with retention and reduce turnover friction for multifamily communities serving working households.
Within a 3-mile radius, demographics show measured population growth recently and a larger increase in households projected over the next five years, implying a growing renter pool and support for occupancy. Median household incomes are solid relative to many U.S. neighborhoods, while the neighborhood’s rent-to-income ratio (around 0.20) suggests manageable affordability pressure, which can aid renewal rates and reduce concessions in normal conditions.
Home values in the area trend moderately above the national midpoint, which, combined with elevated neighborhood rents versus many markets, can reinforce reliance on multifamily housing. School ratings in the neighborhood test below national norms, which may modestly narrow appeal for some family renters, but proximity to daily amenities and employment nodes can offset this for a wide swath of working households.
Safety indicators for the neighborhood track below national averages. The neighborhood’s crime ranking is toward the lower end within the Bakersfield metro (ranked 197 among 247 neighborhoods), and national percentiles indicate weaker comparative safety (property offenses around the 17th percentile and violent offenses near the 31st percentile nationwide). Recent year-over-year estimates point to increases in both property and violent offenses, so underwriting should incorporate prudent assumptions for security measures and insurance.
Investors typically mitigate these risks through operational controls, site lighting and surveillance upgrades, and resident engagement. It’s also useful to compare trends versus nearby submarkets to gauge whether the recent uptick is localized or part of broader regional dynamics.
The 104-unit asset at 5301 Lennox Ave combines durable neighborhood occupancy with a renter base that is broad by metro standards. Based on commercial real estate analysis from WDSuite, the neighborhood posts high occupancy and above-average rent positioning versus many U.S. areas, while the 3-mile trade area shows population growth and a projected increase in households that support a larger tenant base. The 1975 construction vintage points to potential value-add through interior updates and targeted system upgrades, offering opportunities to enhance rent competitiveness against newer stock.
Affordability signals are balanced: rent-to-income levels near 0.20 suggest room for disciplined revenue management without overextending residents, and ownership costs moderately above national midpoints help sustain renter reliance on multifamily options. Key watch items include neighborhood safety readings below national norms and generally weak school ratings, which argue for conservative underwriting on operating expenses and marketing mix.
- High neighborhood occupancy and broad renter base support leasing stability
- 1975 vintage offers value-add potential via interiors and building systems
- 3-mile area shows population and household growth, expanding the tenant pool
- Rent-to-income near 0.20 enables disciplined pricing and renewal focus
- Risks: below-average safety metrics and weaker school ratings warrant conservative Opex and asset management