| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Best |
| Demographics | 18th | Fair |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6301 Ming Ave, Bakersfield, CA, 93309, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1983 |
| Units | 72 |
| Transaction Date | 2004-03-25 |
| Transaction Price | $3,900,000 |
| Buyer | 6301 MING ASSOCIATES LLC |
| Seller | MING GARDEN ASSOCIATES LP |
6301 Ming Ave Bakersfield 72-Unit Multifamily Investment
Stabilized renter demand in the surrounding neighborhood supports consistent leasing, according to WDSuite’s CRE market data, with a renter-occupied housing base that is meaningfully higher than the metro norm. The location’s inner-suburb positioning balances everyday convenience with pricing that remains accessible for a broad tenant pool.
Positioned in an Inner Suburb of Bakersfield, the property benefits from neighborhood fundamentals that are competitive among Bakersfield neighborhoods (ranked 56 out of 247, A- rating). Amenity access is a relative strength: grocery and park density score in the top quartile nationally, and cafes and restaurants are plentiful for daily needs. Fewer childcare options and pharmacies nearby may modestly affect convenience for some households.
Neighborhood occupancy trends sit above national medians and are competitive within the metro, supporting income stability for multifamily assets. Renter-occupied housing share ranks in the top quartile nationally, indicating a deep tenant base that can aid leasing velocity and renewal capture. Median rents in the area have grown over the past five years, while remaining positioned to serve workforce renters.
Within a 3-mile radius, population and household counts have expanded in recent years, with forecasts pointing to additional population growth and more households by 2028. This trajectory suggests a larger tenant base over time, which can support occupancy stability and sustained demand for rental units.
The property’s 1983 vintage is modestly newer than the neighborhood’s average construction year (1977). That positioning can offer a competitive edge versus older stock, while still leaving room for targeted modernization and systems updates to enhance rentability and control long-term capital needs.
Home values in the neighborhood sit above local income levels compared with many U.S. areas (higher value-to-income ratio), creating a high-cost ownership market relative to earnings. For investors, this often sustains reliance on multifamily rentals, supporting retention and pricing power, though rent-to-income levels warrant disciplined lease management to mitigate affordability pressure.
Relative to Bakersfield’s 247 neighborhoods, this area’s safety metrics trend below the metro average, and national comparisons place it below the median for safety. Recent estimates indicate year-over-year increases in both property and violent incidents, suggesting investors should underwrite prudent security measures and insurance assumptions rather than assuming immediate improvement.
As always, crime patterns can vary block to block and over time. Framing at the neighborhood level is most appropriate for underwriting; monitoring local trends and coordinating with property management on lighting, access control, and resident engagement can help support on-site conditions.
This 72-unit, 1983-vintage asset sits in a Bakersfield inner-suburb pocket with strong neighborhood usage of rental housing, solid occupancy, and everyday amenities that support tenant retention. According to CRE market data from WDSuite, neighborhood occupancy trends are competitive within the metro and above national medians, while elevated ownership costs relative to incomes reinforce reliance on rental housing. Within a 3-mile radius, population and household growth—along with positive forward projections—points to a larger renter pool over time.
From an operations standpoint, the vintage is slightly newer than the neighborhood average, offering relative competitiveness versus older inventory while still presenting value-add opportunities through selective renovations and building systems planning. Investors should weigh safety metrics that trail metro norms and lower-rated schools against the area’s renter depth, amenity access, and pricing that appeals to workforce households.
- Renter-heavy neighborhood supports depth of demand and renewal potential
- Occupancy trends competitive in metro and above national medians
- 1983 vintage offers a modest edge over older stock with clear value-add paths
- Amenity-rich inner-suburb location aids daily convenience and leasing
- Risks: below-metro safety metrics and lower school ratings warrant conservative underwriting