| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Fair |
| Demographics | 12th | Poor |
| Amenities | 47th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 600 Morning Dr, Bakersfield, CA, 93306, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1986 |
| Units | 112 |
| Transaction Date | 1994-01-13 |
| Transaction Price | $681,000 |
| Buyer | PIONEER STREET ASSOCIATES |
| Seller | JJS PARTNERS |
600 Morning Dr Bakersfield Multifamily Investment
Occupancy in the surrounding neighborhood tracks above the Bakersfield metro median with a renter-occupied unit share that is high for the area, according to CRE market data from WDSuite. This points to a stable tenant base for a 112-unit asset positioned for workforce demand.
Located in an inner-suburban pocket of Bakersfield, the neighborhood posts an overall B- rating and ranks 137 out of 247 metro neighborhoods, placing it around the metro midpoint. Neighborhood occupancy is above the metro median (rank 115 of 247; 64th percentile nationally), signaling comparatively steady leasing conditions for multifamily assets.
Renter concentration is a notable strength: the share of housing units that are renter-occupied sits in the higher tier locally (rank 61 of 247) and in a strong national position (upper deciles), indicating depth in the tenant pool and support for demand stability. Median contract rents in the neighborhood benchmark around national mid-range levels, which can aid retention while leaving room for disciplined revenue management.
Local amenities skew practical for daily needs. Grocery access ranks competitively (77 of 247), and park and pharmacy access are standouts (39 and 52 of 247 respectively), which can support livability and resident satisfaction. Restaurant density trends near the metro middle, while cafés and childcare options are thinner; investors should consider on-site community features to offset lighter third-place amenities.
Within a 3-mile radius, demographics point to renter pool expansion: the area has experienced population and household growth over the last five years, and forecasts indicate continued household increases through 2028. Rising median incomes alongside projected rent growth suggest durable demand drivers, based on commercial real estate analysis from WDSuite’s data, though family-oriented decisions may be sensitive to below-median average school ratings.
Ownership costs in this submarket are comparatively accessible versus coastal California, which can introduce some competition from entry-level ownership. Even so, the neighborhood’s rent-to-income dynamics trend favorable for retention management, and the strong renter-occupied share supports ongoing multifamily absorption.
Safety metrics for the neighborhood sit near the metro middle (crime rank 111 among 247 Bakersfield neighborhoods; around the national midpoint). Recent data show improvement in violent offense trends over the last year, while property crime remains a watchpoint. Investors often address this profile with pragmatic measures such as lighting, access control, and visible management to support resident confidence and lease retention.
600 Morning Dr was built in 1986, newer than the neighborhood’s average vintage, which can offer a competitive edge versus older stock while still benefiting from targeted system upgrades and value-add modernization. The surrounding neighborhood shows above-median occupancy and a high renter-occupied unit share, supporting demand stability and steady leasing. According to CRE market data from WDSuite, local rents and incomes trend in a range that supports retention management, with forecasts indicating continued household growth within a 3-mile radius.
Amenity access for daily needs (grocery, parks, pharmacies) is comparatively strong for the metro, helping livability and renewal potential. Key watchpoints include below-median school ratings and a property-crime profile that warrants routine security investment, as well as potential competition from relatively accessible ownership options. Overall, the asset’s scale (112 units) and vintage position it for durable operations with selective value-add upside.
- Newer 1986 vintage versus area average supports competitive positioning and targeted upgrades.
- Above-median neighborhood occupancy with strong renter-occupied share underpins demand stability.
- Practical amenity access (grocery, parks, pharmacies) supports resident satisfaction and renewals.
- Forecast household growth within 3 miles suggests a larger tenant base over the medium term.
- Risks: below-median school ratings, property-crime management needs, and competition from entry-level ownership.