| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Good |
| Demographics | 49th | Good |
| Amenities | 10th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5700 Ming Ave, Bakersfield, CA, 93309, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1978 |
| Units | 80 |
| Transaction Date | 1998-12-14 |
| Transaction Price | $3,550,000 |
| Buyer | MARIETTI LIDO J |
| Seller | PACIFICA REALTY XII LP |
5700 Ming Ave Bakersfield Multifamily Value-Add Opportunity
Stabilized renter demand in Bakersfield’s inner suburb, with value-add upside from a 1978 vintage that can be modernized to improve competitiveness, according to WDSuite’s CRE market data. Neighborhood occupancy trends are steady but not peak-level, suggesting disciplined asset management can support durable performance.
5700 Ming Ave sits in an Inner Suburb pocket of Bakersfield (neighborhood rating: B-), where day-to-day convenience is serviceable but not amenity-rich. Restaurant density is around the metro middle, while cafes, groceries, parks, and pharmacies are comparatively sparse. For investors, this points to a value proposition driven more by housing fundamentals than lifestyle retail.
Vintage positioning: the property’s 1978 construction is slightly newer than the neighborhood’s average 1972 stock. That relative edge can help leasing versus older comparables, but systems and interiors may still benefit from targeted capital improvements to sustain competitiveness and reduce near-term CapEx surprises.
Demand and tenure: within a 3-mile radius, households have grown in recent years and are projected to keep expanding, supporting a larger tenant base and leasing velocity. The renter-occupied share within 3 miles is roughly on par with owners, indicating a meaningful pool of renters for an 80-unit asset and potential demand stability for multifamily.
Performance context: neighborhood NOI per unit sits competitive among Bakersfield neighborhoods (rank near the top third of 247), signaling achievable operations with disciplined expense control. Neighborhood occupancy is positioned below the metro median, so active leasing, renewals, and unit turns matter for maintaining stability. Home values in the immediate area are modest in absolute terms but elevated relative to local incomes, which tends to sustain reliance on multifamily rentals and can support pricing power when units are well-finished.
Education and schools: school rating data is not available for this neighborhood cluster. Investors should underwrite to property-level leasing performance rather than school-driven demand, and consider finishes, parking, and management quality as primary differentiators in this submarket.
Safety indicators for the neighborhood are mixed and sit below metro averages when compared across 247 Bakersfield neighborhoods. Relative to neighborhoods nationwide, overall safety aligns around the middle of the pack on some measures, with property offenses near the national midpoint and violent offenses slightly better than the national middle. Year-over-year changes can be volatile at the neighborhood scale, so investors should focus on multi-year trends and property-level controls (lighting, access, management) rather than single-year swings.
In practical terms, positioning is more “monitor and manage” than “set-and-forget.” A proactive operating plan that emphasizes visibility, responsive maintenance, and community standards typically supports retention and can mitigate downside in areas that score below the metro median.
5700 Ming Ave is an 80-unit, 1978-vintage asset in an Inner Suburb location where renter demand is underpinned by a sizable 3-mile population and ongoing household growth. The vintage is slightly newer than the local average, offering a platform for targeted renovations to lift effective rents and reduce friction in lease-up. Neighborhood occupancy trends trail the metro median, so execution will hinge on unit quality, turn efficiency, and renewal management; however, elevated ownership costs relative to incomes in the area reinforce reliance on multifamily housing. Based on CRE market data from WDSuite, operational outcomes in comparable neighborhoods remain competitive when assets are well-managed and updated.
Forward-looking fundamentals include a projected increase in households within a 3-mile radius, supporting a larger tenant base and potential occupancy stability. Amenities are thinner than lifestyle-heavy submarkets, so the investment case relies on thoughtful CapEx, efficient operations, and pricing discipline rather than retail adjacency.
- 1978 vintage offers practical value-add and systems upgrades to enhance competitiveness
- 3-mile renter pool expansion supports leasing and renewal momentum over time
- Elevated ownership costs vs. local incomes sustain multifamily demand and pricing power
- Neighborhood NOI per unit is competitive among Bakersfield submarkets with disciplined operations
- Risks: below-metro-median safety and occupancy require active management, security planning, and focused leasing