| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 36th | Good |
| Amenities | 43rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5324 Fairfax Rd, Bakersfield, CA, 93306, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1980 |
| Units | 24 |
| Transaction Date | 2017-12-12 |
| Transaction Price | $2,520,000 |
| Buyer | ARCADIA TOWNHOMES LLC |
| Seller | ARCADIA VILLAS LLC |
5324 Fairfax Rd Bakersfield Multifamily Investment
This 24-unit property built in 1980 positions investors in a neighborhood with above-average grocery access and strong household income growth according to CRE market data from WDSuite.
The neighborhood surrounding 5324 Fairfax Rd demonstrates solid fundamentals for multifamily investors. With a median household income of $90,446 and 72% national percentile ranking for rental share among 247 metro neighborhoods, the area shows strong rental demand dynamics. Demographic statistics aggregated within a 3-mile radius indicate household income growth of 32% over five years, supporting tenant retention and pricing power.
Built in 1980, this property aligns with the neighborhood's average construction year of 1977, suggesting consistent building stock without significant vintage disadvantages. The area maintains a 92.5% occupancy rate, indicating stable absorption despite a slight decline from prior years. With 33.5% of housing units renter-occupied, the neighborhood provides a substantial tenant base for multifamily properties.
Amenity density supports tenant appeal with 3.68 grocery stores per square mile, ranking in the top quartile nationally among neighborhoods. Restaurant access matches grocery density at 3.68 per square mile, while pharmacy access at 1.23 per square mile ranks in the 87th national percentile. However, the neighborhood shows limited park and cafe amenities, which may impact tenant preferences for lifestyle-oriented renters.
Five-year projections show continued household formation with a 45% increase in total households expected, expanding the potential renter pool. Median rent forecasts of $1,269 represent 22% growth from current levels, though investors should monitor affordability pressures as rent-to-income ratios approach market limits.
Safety metrics present mixed signals for investor consideration. The neighborhood ranks 188th among 247 metro neighborhoods for overall crime, placing it in the 27th national percentile. Property offense rates of 643 per 100,000 residents rank in the 32nd percentile nationally, indicating above-average property crime compared to neighborhoods nationwide.
Recent trends show concerning increases in both property and violent offense rates, with property crimes rising 264% year-over-year. Violent crime rates remain relatively moderate at 33 per 100,000 residents but increased 73% in the most recent reporting period. Investors should factor these trends into tenant screening protocols and property security considerations when evaluating long-term hold strategies.
Employment data for major nearby anchors is not currently available in the provided market research. Investors should conduct additional due diligence on local employment centers and commute patterns to assess workforce housing demand drivers in this Bakersfield submarket.
The 5324 Fairfax Rd property offers exposure to Bakersfield's evolving rental market with solid income fundamentals and grocery accessibility advantages. According to multifamily property research from WDSuite, the neighborhood's 72nd percentile national ranking for rental share indicates established renter demand, while projected household growth of 45% over five years supports long-term occupancy stability. The 1980 construction year presents value-add renovation opportunities to capture rising rent trends forecasted at 22% growth.
However, recent crime increases and limited lifestyle amenities require careful tenant management and potential security investments. The property's 300 square foot average unit size may limit tenant demographics to affordability-focused renters rather than lifestyle-oriented households seeking larger floor plans.
- Strong rental demand with 33.5% renter-occupied units and 72nd percentile national ranking
- Household income growth of 32% over five years supports rent increases
- Projected 45% household growth expands potential tenant base
- Value-add renovation potential with 1980 vintage and rising rent forecasts
- Rising crime rates and compact unit sizes present tenant management challenges