| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 22nd | Fair |
| Amenities | 12th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7000 College Ave, Bakersfield, CA, 93306, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1990 |
| Units | 112 |
| Transaction Date | 2015-10-27 |
| Transaction Price | $15,650,000 |
| Buyer | SHADOW RIDGE APARTMENTS LLC |
| Seller | HSR INVESTMENT GROUP LP |
7000 College Ave Bakersfield Multifamily Investment
Neighborhood data point to steady renter demand with roughly half of housing units renter-occupied, according to WDSuite s CRE market data, supporting occupancy continuity at the submarket level. While not an amenity-rich pocket, the area 2019s positioning within Bakersfield offers practical workforce access and stable mid-pack occupancy for the neighborhood, not the property.
Livability leans practical rather than lifestyle-driven. Amenity density (caf e9s, grocery, parks, restaurants) ranks near the bottom among 247 Bakersfield metro neighborhoods, suggesting residents rely on broader trade areas for daily needs. For investors, this typically skews toward value-oriented renter profiles and commute-based housing decisions rather than discretionary amenity demand.
The neighborhood 2019s occupancy sits around the national midpoint (50th percentile), indicating balanced supply-demand conditions rather than tightness or softness. Renter-occupied share of housing units is high relative to national norms (88th percentile), implying a deep tenant base and durable multifamily demand through cycles. Median contract rents in the neighborhood track above national medians for comparable areas (68th percentile), which can support revenue, though pricing should reflect local income dynamics.
Within a 3-mile radius, WDSuite 2019s demographics indicate modest population growth and an increase in households, expanding the local renter pool over time. Household sizes remain on the larger side locally, and the income mix is broad, which points to heterogeneous product fit from classic units to renovated offerings. School ratings average near the national middle, aligning with stable family-oriented housing demand without commanding premium pricing.
The property 2019s 1990 vintage is older than the neighborhood 2019s average construction year (2001), highlighting potential value-add opportunity through targeted interior updates and system modernization. Relative to a newer competitive set, strategic renovations can help capture leasing velocity and support retention while maintaining a practical value proposition.
Home values in the neighborhood trend above national medians for similar areas (71st percentile). In practice, a higher-cost ownership backdrop can reinforce reliance on rental housing, supporting tenant retention and occupancy stability for well-maintained multifamily assets.
Safety indicators for the neighborhood are mixed and compare roughly to the broader U.S. and the Bakersfield metro. Overall crime trends sit near the national midpoint (around the 50th percentile) and are competitive among Bakersfield neighborhoods rather than top-tier. The neighborhood ranks 96 out of 247 within the metro, signaling mid-pack positioning rather than an outlier.
Property offenses trend better year over year with a double-digit decline, positioning the neighborhood above national midline for this category. Violent offense rates benchmark in a stronger national percentile, but recent year-over-year volatility suggests investors should underwrite with prudent security and lighting plans and monitor updated trend data over time. As always, these figures reflect neighborhood-level patterns, not conditions specific to the property.
7000 College Ave offers a 112-unit, mid-sized footprint in an inner-suburban Bakersfield location where neighborhood occupancy is mid-pack and renter concentration is high for the U.S., supporting a durable tenant base. The 1990 vintage is older than nearby stock on average, creating a straightforward value-add path through interior upgrades and select system improvements. According to CRE market data from WDSuite, neighborhood rents benchmark above national medians for comparable areas while ownership costs trend higher than average locally f1a setup that can sustain multifamily demand and leasing stability when pricing aligns with local incomes.
Within a 3-mile radius, modest population growth and increasing household counts point to a gradually expanding renter pool, supporting occupancy stability over the medium term. Limited immediate amenity density suggests a workforce- and commute-oriented resident profile; positioning renovations and amenities toward practicality and retention should help balance affordability pressures with achievable revenue management.
- High renter-occupied share locally supports depth of tenant demand and leasing resilience.
- 1990 vintage versus newer neighborhood stock highlights value-add potential via targeted upgrades.
- Neighborhood rents and higher ownership costs reinforce rental reliance and potential pricing power with careful income-sensitive management.
- 3-mile demographics show population and household growth, supporting a gradually expanding renter pool.
- Risks: limited amenity density and mixed safety signals require conservative underwriting for concessions, security, and ongoing retention strategies.