| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Best |
| Demographics | 42nd | Good |
| Amenities | 27th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7107 Ming Ave, Bakersfield, CA, 93309, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1984 |
| Units | 61 |
| Transaction Date | 2017-05-16 |
| Transaction Price | $5,925,000 |
| Buyer | CASA LINDA OKLAHOMA CITY |
| Seller | WESTCOURTE ASSOCIATES LTD |
7107 Ming Ave Bakersfield Multifamily Investment
This 61-unit property benefits from exceptional neighborhood occupancy rates at 100%, ranking first among 247 metro neighborhoods according to CRE market data from WDSuite.
This inner suburb neighborhood demonstrates strong fundamentals with a B+ rating and ranks in the top 30% among 247 Bakersfield metro neighborhoods. The area maintains 100% neighborhood-level occupancy, ranking first metro-wide and placing in the 100th national percentile for occupancy stability. Median contract rents of $1,197 position the neighborhood in the 65th national percentile, indicating competitive pricing within the broader market.
Demographics within a 3-mile radius show a stable tenant base with 105,911 residents and median household income of $80,959. The area maintains 43.4% renter-occupied housing units, providing a substantial rental market. Household growth of 2.4% over five years supports sustained demand, while projected population growth of 11.3% through 2028 suggests continued renter pool expansion.
Built in 1984, this property aligns with the neighborhood's average construction year of 1982, indicating consistent vintage across the area. Home values averaging $366,170 with 47% appreciation over five years reinforce rental demand as elevated ownership costs keep households in the rental market. The rent-to-income ratio of 0.16 suggests manageable affordability for tenants while supporting lease retention.
Amenity access remains limited with minimal retail density, though childcare facilities rank in the 98th national percentile at 4.46 per square mile, supporting family-oriented tenant appeal. School ratings average 2.0 out of 5, which may influence tenant demographics and retention patterns. The neighborhood's housing fundamentals rank in the 68th national percentile, reflecting solid underlying market conditions.
Property crime rates in the neighborhood show 315 incidents per 100,000 residents, ranking 129th among 247 metro neighborhoods and placing in the 47th national percentile. While this represents average performance relative to national standards, recent trends show a 58.5% increase in property crime over the past year, ranking 157th metro-wide and in the 18th national percentile for crime trend stability.
Violent crime rates remain lower at 38 incidents per 100,000 residents, though this metric has experienced significant volatility with a 220.6% increase year-over-year. This places the neighborhood in the 7th national percentile for violent crime trends, indicating elevated monitoring may be warranted for tenant retention and property management considerations.
Employment opportunities in the greater Bakersfield area support workforce housing demand, though specific major employers within immediate proximity require verification through local market research.
- Local Healthcare Systems — medical services and support
- Kern County Government — public administration and services
- Energy Sector Employers — oil and gas operations
This 61-unit property offers exposure to Bakersfield's stable rental fundamentals, anchored by exceptional neighborhood occupancy at 100% — the highest among 247 metro neighborhoods. The 1984 construction year aligns with area norms while presenting potential value-add opportunities through strategic capital improvements. Projected household growth of 41.2% through 2028 within the 3-mile radius supports long-term tenant demand expansion.
Current rent levels at $1,197 median provide competitive positioning in the 65th national percentile, while the 0.16 rent-to-income ratio suggests sustainable affordability for the existing tenant base. Home values averaging $366,170 with strong appreciation trends reinforce rental demand as ownership costs remain elevated relative to renter incomes.
- Exceptional occupancy fundamentals with 100% neighborhood rate ranking first metro-wide
- Projected 41.2% household growth through 2028 supporting tenant demand
- 1984 vintage offers potential value-add upside through targeted improvements
- Risk consideration: Recent crime trend volatility requires ongoing monitoring