| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Good |
| Demographics | 30th | Fair |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 814 17th St, Bakersfield, CA, 93301, US |
| Region / Metro | Bakersfield |
| Year of Construction | 1973 |
| Units | 22 |
| Transaction Date | 2004-11-29 |
| Transaction Price | $1,145,000 |
| Buyer | RCM SOCAL INC |
| Seller | REPPE ERIK |
814 17th St, Bakersfield CA Multifamily Investment
Stabilized renter demand and high neighborhood occupancy support consistent cash flow potential, according to WDSuite’s CRE market data, with value-add upside from a 1973 vintage in a predominantly renter-occupied area.
This Inner Suburb location ranks in the top quartile among 247 Bakersfield neighborhoods overall (A rating), with neighborhood occupancy trending high and strengthening over the past five years. Renter-occupied housing is a dominant share of units locally, indicating a deep tenant base that can support leasing stability and renewal activity for multifamily assets.
Access to daily needs is a relative strength: grocery, pharmacy, and park access benchmark in the upper national percentiles, and the neighborhood’s restaurant density ranks near the top of the metro, supporting resident convenience and urban lifestyle appeal. Café density is comparatively thin, but the broader amenity mix still reads favorable for everyday livability.
Homeownership costs are elevated relative to local incomes (high value-to-income ratio), which tends to reinforce reliance on rental housing and supports pricing power for well-managed communities. At the same time, rent-to-income levels suggest careful lease management is prudent to maintain retention.
Demographics aggregated within a 3-mile radius point to modest population growth and an increase in households with a projected decline in average household size, signaling a broader renter pool over time and sustained demand for smaller floor plans. School ratings trail metro and national norms, which may skew demand toward workforce housing rather than family-driven moves.
The property’s 1973 construction is newer than the neighborhood’s average vintage (1960), offering a competitive edge versus older stock while still presenting typical value-add opportunities through modernization of interiors, common areas, and building systems.
Relative to Bakersfield’s 247 neighborhoods, this area’s safety metrics trend below the metro average and sit in the lower national percentiles. Investors should underwrite with conservative assumptions around security, operations, and potential loss mitigation, while noting that safety conditions can vary block by block and over time.
Positioning a property with visible management presence, lighting, and access controls can help support resident satisfaction and retention. Monitor local trendlines as part of ongoing asset management rather than relying on a single-year snapshot.
Based on CRE market data from WDSuite, the neighborhood’s occupancy is well above national norms and has improved over the last five years, supported by a notably high concentration of renter-occupied housing. Elevated ownership costs versus incomes in the area reinforce renter reliance on multifamily, which can translate into stable tenant demand when paired with disciplined lease and renewal management.
Built in 1973, the asset is newer than the neighborhood’s average vintage, suggesting competitive positioning versus older product while still offering value-add pathways through targeted renovations and system upgrades. Nearby daily-needs amenities score strongly, improving livability and supporting retention. Key underwriting considerations include below-average local school ratings, affordability pressure for some households, and conservative planning around safety-related operating practices.
- High neighborhood occupancy and deep renter concentration support leasing stability
- 1973 vintage presents clear value-add and modernization potential versus older local stock
- Strong daily-needs amenities (grocery, pharmacy, parks) bolster resident retention
- Elevated ownership costs sustain multifamily demand, aiding pricing power for well-run assets
- Risks: lower school ratings, affordability pressure, and safety considerations warrant conservative operations