| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 42nd | Good |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5401 Lennox Ave, Bakersfield, CA, 93309, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1974 |
| Units | 96 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
5401 Lennox Ave Bakersfield Multifamily Investment
Neighborhood occupancy is strong and renter demand is deep in this inner-suburban pocket of Bakersfield, according to WDSuite’s CRE market data, supporting stable operations for well-managed assets.
The property sits in an Inner Suburb location that ranks 10th of 247 Bakersfield neighborhoods (A+ rating), signaling strong fundamentals for multifamily. Local occupancy is high at the neighborhood level, with a rank of 57 out of 247, placing it in the top quartile nationally for stability and suggesting a resilient tenant base rather than asset-specific performance.
Amenities are a differentiator: the area’s amenity rank is 9 of 247 (top quartile among Bakersfield neighborhoods), with restaurants and cafes comparing favorably at the national level, and parks density placing in the top decile nationally. This supports day-to-day livability and reduces turnover risk, an advantage often noted in commercial real estate analysis.
Renter concentration at the neighborhood level is 50.5% (rank 62 of 247), above the metro median and high nationally, indicating depth in renter-occupied housing units and a broad tenant pool for multifamily demand. Median neighborhood contract rents trend toward the higher side within Bakersfield (81st national percentile), while the rent-to-income ratio near 0.20 suggests manageable affordability pressure that can aid retention but moderates near-term pricing power.
Median home values are moderate for California (64th national percentile) with a value-to-income ratio around national norms, implying ownership is accessible enough to create some competition yet still sustains reliance on rental housing. Average school ratings in the area sit in the lower national percentiles, which may influence family-oriented leasing dynamics; investors can offset this by emphasizing upgraded unit finishes, larger two-bed layouts, and convenience to amenities.
Safety indicators for the neighborhood trend below national averages, with rankings placing it in the lower tiers both for property and violent offenses. Within the Bakersfield metro, the neighborhood’s crime rank (197 out of 247) positions it below the metro median. For investors, this calls for practical measures—well-lit common areas, access controls, and active management—to support retention and leasing velocity over time.
Nationally, comparative standing is also below average (e.g., property offense metrics align with lower national percentiles). Trends should be monitored as part of annual budgeting and capital planning, and underwriting can assume modest security-related OpEx to maintain curb appeal and resident confidence.
Built in 1974 and totaling 96 units, the asset is slightly older than the neighborhood’s average construction vintage. That positioning can create value-add potential through targeted renovations, system upgrades, and curb-appeal enhancements to compete effectively against newer stock. Neighborhood occupancy is robust and renter concentration is above the metro median, according to CRE market data from WDSuite, supporting steady tenant demand and lease-up resilience.
Within a 3-mile radius, recent population and household growth have been positive, with forecasts indicating additional expansion—pointing to a larger tenant base that supports occupancy stability and ongoing leasing. Median neighborhood rents sit on the higher side for the metro, while rent-to-income levels indicate manageable affordability pressure; together these conditions favor retention, with pricing power dependent on execution quality and amenity alignment.
- High neighborhood occupancy and solid renter depth support demand stability.
- 1974 vintage presents value-add upside via interior, systems, and curb-appeal upgrades.
- 3-mile radius shows population and household growth, expanding the renter pool.
- Rents trend higher locally, while rent-to-income levels aid retention with measured pricing power.
- Risks: below-average safety metrics and lower school ratings warrant active management and targeted CapEx.