| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Fair |
| Demographics | 12th | Poor |
| Amenities | 47th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 628 Meadows St, Bakersfield, CA, 93306, US |
| Region / Metro | Bakersfield |
| Year of Construction | 2012 |
| Units | 28 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
628 Meadows St, Bakersfield CA Multifamily Investment
Neighborhood fundamentals point to stable renter demand and competitive positioning for a 2012-built, 28-unit asset, according to WDSuite’s CRE market data.
Built in 2012, the property is materially newer than the neighborhood s average 1970s vintage. That relative youth can support competitiveness versus older stock and reduce near-term capital exposure, while still leaving room for selective modernization over a standard hold period.
Local amenities are mixed. Grocery, pharmacy, and park access benchmark in the top quartile nationally, which supports daily convenience for residents. Caf e9s and childcare options are thinner than typical, and restaurants track closer to national medians, indicating everyday needs are met even if lifestyle offerings are more utilitarian.
For investors, the most relevant housing signals are the neighborhood s occupancy and renter concentration. Neighborhood occupancy is reported at 93.9% (above the national median), and the share of renter-occupied housing is elevated at roughly half of units, placing the area in a high national percentile for renter concentration. Together, these dynamics indicate a deeper tenant base and support for leasing stability at the neighborhood level rather than at the property specifically.
Three-mile demographics add context for demand. Over the last five years, population and households expanded, enlarging the local renter pool. Forward-looking data indicate households are expected to continue rising even as average household size trends lower, a pattern that can sustain multifamily absorption. Median incomes in the 3-mile area have risen, and modeled rents are projected to continue advancing, reinforcing a need for attentive lease management to balance pricing with retention.
Schools in the neighborhood rate below national averages, which can position the area more squarely toward workforce housing. Ownership costs are comparatively elevated versus incomes in national terms, which tends to keep more households renting and can support occupancy resilience for well-managed multifamily assets.
Neighborhood safety benchmarks close to national averages overall, with signals that are slightly weaker than the metro median. Property crime measures sit below national medians, while recent trends show a meaningful year-over-year improvement in violent incident rates. Taken together, the area tracks as serviceable for workforce housing, though prudent operators typically incorporate standard security measures and lighting into capital plans.
628 Meadows St offers 28 units averaging about 939 square feet in an inner-suburban Bakersfield location. The 2012 vintage is newer than much of the surrounding housing stock, supporting competitive positioning versus older assets while allowing for targeted value-add through finishes, amenities, or systems as they age. Neighborhood-level occupancy is above the national median and renter concentration is high, signaling depth in the tenant base and potential for steady leasing. Based on commercial real estate analysis from WDSuite, ownership costs relative to incomes trend higher in national context, which often sustains reliance on rental housing and supports pricing power when paired with disciplined lease management.
Three-mile demographics point to a larger household base over time even as household sizes normalize, which can support absorption and occupancy stability. Amenity access favors daily needs (grocery, pharmacy, parks) more than lifestyle options, aligning the asset with workforce demand. Operators should underwrite for measured rent growth alongside retention, and monitor area safety and school perceptions when crafting resident experience and marketing strategy.
- 2012 vintage relative to 1970s neighborhood stock supports competitive positioning with selective value-add potential
- Neighborhood occupancy above national median and high renter concentration underpin leasing stability
- Daily-needs amenities (grocery, pharmacy, parks) rank strong nationally, supporting resident convenience and retention
- Three-mile outlook shows household growth with smaller sizes, expanding the renter base and supporting absorption
- Risks: safety benchmarks slightly below metro average and lower school ratings; prioritize security, maintenance, and workforce-focused positioning