| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Poor |
| Demographics | 9th | Poor |
| Amenities | 24th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 617 Union Ave, Bakersfield, CA, 93307, US |
| Region / Metro | Bakersfield |
| Year of Construction | 2011 |
| Units | 56 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
617 Union Ave, Bakersfield CA Multifamily Investment
Neighborhood occupancy is steady and renter demand is deep, with a high share of renter-occupied housing units supporting leasing durability, according to WDSuite’s CRE market data. Positioning along Union Ave offers access to everyday services while pricing remains oriented toward workforce renters.
The property sits in an Inner Suburb pocket of Bakersfield where renter concentration is elevated: the neighborhood records a high share of renter-occupied housing units (ranked 8 out of 247 metro neighborhoods; 99th percentile nationally). For multifamily owners, this typically signals a broader tenant base and potential for stable absorption, even as lease management must account for income-sensitive households.
Occupancy in the neighborhood is competitive among Bakersfield neighborhoods (rank 95 of 247) and in the top quartile nationally by WDSuite’s benchmarks, supporting leasing consistency across cycles. At the same time, WDSuite’s data show a rent-to-income ratio that points to affordability pressure locally, so underwriting should consider renewal strategies and rent-step pacing to sustain retention.
Amenity access is mixed. Grocery proximity scores well (around the 81st percentile nationally), and restaurant density is above average (about the 65th percentile). However, parks, pharmacies, cafes, and childcare options track at the bottom of national comparisons. Average school ratings also sit well below national norms, which may matter for family-oriented unit mixes.
Within a 3-mile radius, demographics indicate gradual population growth over the last five years with a larger increase in households, and forecasts point to ongoing renter pool expansion alongside smaller average household sizes. For investors, this suggests a widening base of potential tenants near term and into the medium term, supporting occupancy stability and future lease-up velocity.
Built in 2011, the asset is materially newer than the neighborhood’s older housing stock (average vintage 1959). Newer construction can enhance competitive positioning versus legacy properties, while investors should still plan for mid-life building systems and selective modernization to maintain appeal.
Home values in the immediate neighborhood are lower than many California markets, which can create some competition from entry-level ownership. That said, local income levels and the strong renter orientation indicate sustained reliance on multifamily housing, supporting tenant retention when pricing is managed thoughtfully.
Safety indicators for the neighborhood track below both metro and national averages, based on CRE market data from WDSuite. Overall crime ranks closer to the higher-crime end among the 247 Bakersfield neighborhoods, and national comparisons place the area in the lower percentiles for safety.
For underwriting, this typically calls for prudent operating measures: lighting, access control, and community standards can support resident experience and retention. Nearby subareas may differ materially, so investors often evaluate block-by-block conditions during site walks and compare trends over time rather than relying on a single-year snapshot.
This 56-unit asset built in 2011 stands out as newer product in an older housing context, offering relative competitiveness versus legacy stock. Neighborhood occupancy is competitive in the metro and top quartile nationally, which, according to CRE market data from WDSuite, supports consistent leasing. The high share of renter-occupied units indicates depth in the tenant base, while amenity access is anchored by everyday retail and groceries.
Investor considerations include managing affordability pressure (given local rent-to-income dynamics), addressing safety with standard multifamily operating practices, and tailoring upgrades to sustain positioning as systems age. Within a 3-mile radius, steady population gains and a projected increase in households suggest a larger renter pool ahead, reinforcing demand for well-managed workforce units.
- Newer 2011 construction offers competitive positioning versus older neighborhood stock
- Neighborhood occupancy competitive in metro and top quartile nationally supports leasing stability
- High renter-occupied share signals deeper tenant base and absorption potential
- 3-mile radius shows population and household growth, expanding the renter pool
- Risks: below-average safety metrics, limited park/pharmacy amenities, and affordability pressure require thoughtful operations