| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Good |
| Demographics | 10th | Poor |
| Amenities | 42nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1640 Garces Hwy, Delano, CA, 93215, US |
| Region / Metro | Delano |
| Year of Construction | 1986 |
| Units | 96 |
| Transaction Date | 2000-05-25 |
| Transaction Price | $560,000 |
| Buyer | MKS ENTERPRISES LLC |
| Seller | WHITE JEFF J FAMILY TRUST |
1640 Garces Hwy Delano Multifamily Investment
This 96-unit property offers exposure to a neighborhood with 95.5% occupancy and strong renter demand, with CRE market data from WDSuite indicating above-average rental tenure in the broader Bakersfield metro.
The property sits within a B- rated neighborhood ranked 136th among 247 metro neighborhoods, reflecting competitive fundamentals in the Bakersfield region. Built in 1986, this asset predates the neighborhood's 1970 average construction year, potentially offering value-add opportunities through strategic capital improvements and unit upgrades.
Neighborhood-level occupancy of 95.5% ranks in the top quartile nationally at the 74th percentile, indicating strong rental demand stability. The area maintains a 47.6% share of renter-occupied housing units, ranking at the 87th percentile nationally and supporting sustained multifamily demand. Median contract rents of $796 provide an affordable entry point while rent growth of 13.2% over five years demonstrates pricing power potential.
Demographics within a 3-mile radius show a population of approximately 41,400 with projected growth to 47,100 by 2028, representing a 13.6% increase that expands the potential tenant base. Household formation is expected to accelerate with a 59.7% increase in total households, while median income is forecast to rise 47.7% to $82,872, supporting rent growth capacity. The area's average household size of 3.8 aligns with larger unit demand typical of family-oriented rental markets.
Home values average $236,276 with a value-to-income ratio ranking in the top quartile nationally, indicating that elevated ownership costs relative to incomes help sustain rental demand. The rent-to-income ratio of 0.21 suggests manageable affordability for tenants while providing room for strategic rent optimization.
Crime data for this specific neighborhood is not currently available in the market dataset. Investors should conduct independent due diligence on local safety conditions and consider engaging with local law enforcement and property management companies to assess security considerations as part of their investment evaluation.
The local employment base is anchored by major corporate operations within commuting distance, supporting workforce housing demand in the area.
- International Paper — corporate offices (37.7 miles)
This 96-unit property built in 1986 presents a value-add opportunity in a neighborhood with demonstrated rental market strength. The asset's vintage predates local construction averages, offering potential for strategic improvements to capture upside in a market showing 13.2% rent growth over five years. Neighborhood occupancy of 95.5% ranks in the top quartile nationally, while the 47.6% renter-occupied housing share indicates sustained multifamily demand.
Demographic projections within a 3-mile radius support long-term fundamentals, with household growth of 59.7% and median income increases of 47.7% forecast through 2028. According to commercial real estate analysis from WDSuite, the combination of affordable rents at $796 median and strong occupancy metrics positions the asset for both stable cash flow and strategic value creation through targeted improvements.
- Strong occupancy fundamentals with neighborhood-level 95.5% occupancy ranking top quartile nationally
- Value-add potential from 1986 construction year in market with demonstrated rent growth
- Projected 59.7% household growth and 47.7% income increases supporting demand expansion
- Risk consideration: Limited major employer density may impact tenant retention during economic downturns