| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Best |
| Demographics | 18th | Fair |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6200 Spice Way, Bakersfield, CA, 93309, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1984 |
| Units | 24 |
| Transaction Date | 2019-01-18 |
| Transaction Price | $1,229,000 |
| Buyer | HARVEST CREEK LLC |
| Seller | TBS PROPERTIES LLC |
6200 Spice Way Bakersfield Multifamily Investment
Neighborhood fundamentals point to durable renter demand and competitive occupancy, according to WDSuite’s CRE market data, with positioning that favors stable leasing over a full cycle.
This Inner Suburb location scores in the top quartile among 247 Bakersfield neighborhoods overall (A- rating), with amenity access that over-indexes locally—groceries, parks, cafes, and restaurants are comparatively dense for the metro. These attributes help support day-to-day livability and can aid resident retention even as the broader market shifts.
Neighborhood occupancy runs competitive among Bakersfield submarkets, and renter-occupied share is elevated at the neighborhood level, signaling a deep tenant base for multifamily owners rather than a thin pool of prospects. Median asking rents trend above the metro median while remaining manageable relative to local incomes, which can support steady absorption and reduce turnover risk when lease management is disciplined.
Within a 3-mile radius, demographics show recent population growth and an increase in households, with forecasts indicating further renter pool expansion. This translates into a larger base of potential tenants over time, a constructive backdrop for maintaining occupancy and measured rent growth.
Ownership costs in the area are relatively high versus incomes on a national-comparison basis, which tends to sustain reliance on rental housing and supports pricing power for well-managed assets. School ratings trend on the lower side locally, which may influence unit mix performance (e.g., smaller households and workforce renters) more than family-oriented leasing; investors can address this through amenity programming and value-focused positioning.
Neighborhood safety levels track below national averages and below the metro median, based on comparative ranks among 247 Bakersfield neighborhoods and national percentiles. Recent year indicators suggest a notable uptick in property and violent offense rates at the neighborhood level, so underwriting should incorporate enhanced security measures and prudent loss assumptions.
For investors, the takeaway is risk management rather than avoidance: focus on lighting, access control, and resident engagement, and calibrate insurance and operating reserves accordingly while weighing the area’s demand drivers and amenity strengths.
Built in 1984, the property is newer than the neighborhood’s average vintage, providing relative competitiveness versus older stock while still warranting targeted system updates or light renovations to sharpen positioning. According to CRE market data from WDSuite, the surrounding neighborhood exhibits competitive occupancy and an above-median rent posture for Bakersfield, supported by a sizable share of renter-occupied housing units and a growing 3-mile tenant base. Together, these dynamics support steady leasing and disciplined rent growth rather than outsized volatility.
Demand is further reinforced by a high-cost ownership context relative to incomes on a national-comparison basis, which sustains reliance on multifamily rentals and can bolster pricing power. Key watch items include below-average safety metrics and lower school ratings; both can be mitigated through security investments, resident services, and value-forward unit finishes that appeal to workforce renters.
- Newer vintage (1984) vs. neighborhood average supports competitive positioning with selective CapEx focus
- Competitive neighborhood occupancy and elevated renter-occupied share underpin leasing stability
- Growing 3-mile population and household counts expand the tenant base over time
- Ownership costs relatively high vs. incomes bolster multifamily demand and pricing power
- Risks: below-average safety and lower school ratings; address via security, resident programming, and value-focused renovations