| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 54th | Best |
| Amenities | 71st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 709 Meadow Grove Ct, Bakersfield, CA, 93308, US |
| Region / Metro | Bakersfield |
| Year of Construction | 2006 |
| Units | 20 |
| Transaction Date | 2016-03-30 |
| Transaction Price | $2,500,000 |
| Buyer | Lakshmana O & Susila Arasu |
| Seller | Cartagena Group, LTD |
713 Meadow Grove Ct Bakersfield Multifamily Investment
Neighborhood occupancy trends are strong and supportive of stable leasing, according to WDSuite’s CRE market data, suggesting steady renter demand around this address. Metrics referenced are measured for the neighborhood, not the property.
Situated in Bakersfield’s inner-suburban fabric, the neighborhood posts an A+ rating and ranks 8th out of 247 metro neighborhoods, indicating performance that is competitive among Bakersfield submarkets for multifamily exposure. Amenity access is a local strength: restaurants, cafes, parks, groceries, and pharmacies all sit in higher national percentiles, helping support day-to-day convenience and resident retention.
The property’s 2006 vintage is newer than the neighborhood’s average construction year of 1997. For investors, this typically means a relatively competitive position versus older stock and potentially lower near-term capital intensity, while still planning for routine system updates and modernization to sustain rentability.
Renter demand fundamentals are supported by a sizeable renter-occupied share of housing units in the neighborhood (above the national median, with a high national percentile). This higher renter concentration usually points to a deeper tenant base and supports occupancy stability for professionally managed assets, though effective leasing strategy and unit positioning remain key.
Demographic statistics aggregated within a 3-mile radius point to recent population growth and an increase in households, with forecasts indicating further household gains and rising incomes over the next five years. This trajectory expands the local renter pool and can underpin absorption for well-located units. Neighborhood rents trend in the upper national percentiles while the rent-to-income profile indicates relatively manageable affordability pressure, which can aid lease retention and pricing discipline.
Counterpoints for investors: average school ratings in the neighborhood sit below national medians, which may require targeting renter segments less sensitive to school quality. Childcare density is also limited within the immediate area. These factors do not preclude performance but argue for amenity positioning and service quality to sustain competitiveness.
Comparable neighborhood safety metrics were not available in WDSuite for this location at the time of publication. Investors typically benchmark property-level experience and citywide trends, review recent police or third-party reports, and incorporate on-site security and lighting assessments into underwriting to align with resident expectations.
This 20-unit asset with larger average floorplans (approximately 1,105 sq. ft.) benefits from a high-performing Bakersfield neighborhood where occupancy is strong and amenities are convenient. Based on CRE market data from WDSuite, the surrounding area shows solid renter demand indicators and a renter-occupied housing share that supports depth of the tenant base. The 2006 construction provides a relative edge versus older stock, with room to pursue selective value-add and operational improvements to enhance rentability and retention.
Within a 3-mile radius, population and household growth alongside rising incomes point to a larger renter pool ahead, reinforcing the case for durable occupancy. Home values in this submarket are moderate relative to many California metros, which, together with a reasonable rent-to-income profile, can support leasing stability while allowing disciplined rent management. Execution risks remain around school quality perceptions and limited childcare access, making targeted marketing, service delivery, and amenity strategy important to sustain performance.
- Newer 2006 vintage versus neighborhood average supports competitive positioning with manageable near-term capital planning.
- Strong neighborhood occupancy and higher renter concentration support demand depth and leasing stability.
- 3-mile radius shows growth in households and incomes, expanding the tenant base and supporting absorption.
- Larger average unit sizes enable differentiated product positioning and potential pricing power.
- Risk: below-average school ratings and limited childcare density may narrow certain renter segments; focus on amenities and management to offset.