| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Fair |
| Demographics | 29th | Fair |
| Amenities | 41st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 849 22nd Ave, Delano, CA, 93215, US |
| Region / Metro | Delano |
| Year of Construction | 1998 |
| Units | 64 |
| Transaction Date | 2014-11-10 |
| Transaction Price | $8,700,000 |
| Buyer | GEAHI JASMINE HEIGHTS LP |
| Seller | JASMINE HEIGHTS LIMITED PARTNERSHIP |
849 22nd Ave, Delano CA Multifamily Investment
Neighborhood occupancy is strong and has trended upward, supporting leasing stability for a 64-unit asset, according to WDSuite s CRE market data. Newer 1998 construction versus older local stock positions the property competitively while still allowing for targeted value-add.
Livability supports workforce housing demand: the neighborhood s occupancy averages 97.3% (top quartile nationally) and has improved over the past five years, indicating stable renter demand relative to many Bakersfield, CA submarkets, based on CRE market data from WDSuite.
Retail access is a relative strength. Grocery density ranks 19th among 247 Bakersfield metro neighborhoods and sits in the 95th percentile nationally, and cafes rank 23rd locally with an 85th national percentile. Parks and pharmacies are limited within the neighborhood (both ranked 247th of 247), so residents may rely on amenities in adjacent areas.
Schools trend slightly above national norms: average ratings are around 3.0 out of five and in the 61st national percentile. For investors, this can aid family-oriented retention, though offerings may vary by attendance zone.
Tenure and affordability provide depth to the renter base. The neighborhood s renter-occupied share is 32% (described as renter concentration), which helps sustain multifamily demand without overwhelming exposure. With a rent-to-income ratio near 0.14 and a value-to-income ratio in the 61st national percentile, ownership costs remain relatively elevated in context, which can reinforce reliance on rentals and support pricing power while still requiring prudent lease management.
Demographic trends within a 3-mile radius indicate population growth alongside a larger household count and slightly smaller average household size. Households have expanded over the last five years and are projected to continue rising, which suggests a growing tenant pool and supports occupancy stability for well-located multifamily assets.
Vintage context: with an average neighborhood construction year around 1972, this 1998 asset is newer than much of the competitive set. That typically supports leasing competitiveness versus older stock, while investors should still plan for modernization of aging systems and selective common-area or in-unit upgrades to capture rent premiums.
Neighborhood-level crime statistics for this area are not available in the provided dataset. Investors commonly review multiple sources and trend views (city and county reporting, third-party indices, and on-the-ground observations) to assess comparative safety and its potential effect on retention and operating costs.
A practical approach is to compare multi-year patterns at the neighborhood and city levels, visit at different times of day, and evaluate property-level measures (lighting, access control, and visibility) as part of risk management.
Regional employers can influence renter demand through commute convenience. Notable nearby presence includes International Paper, which contributes to industrial and logistics employment in the broader area.
- International Paper packaging & paper manufacturing (36.0 miles)
This 64-unit, 1998-built asset in Delano competes favorably against older neighborhood stock, with occupancy in the surrounding area trending strong and in the upper range nationally. Retail access is robust on daily-needs categories, while limited parks and pharmacies suggest residents may draw amenities from nearby districts. According to CRE market data from WDSuite, the neighborhood s renter concentration and rent-to-income profile point to durable demand with manageable affordability pressure, supporting lease stability when paired with disciplined renewals.
The construction vintage allows for targeted value-add such as interior refreshes and common-area updates to enhance competitiveness against both older properties and any newer entrants. Neighborhood-level NOI per unit trends sit below national benchmarks, indicating the importance of precise expense control and revenue management to protect margins.
- Strong neighborhood occupancy and upward trend support leasing stability
- 1998 vintage offers competitive positioning plus value-add upside
- Daily-needs retail access (grocery and cafes) underpins renter convenience
- Expanding 3-mile household base indicates a growing tenant pool
- Risks: limited parks/pharmacies nearby and neighborhood NOI per unit below national norms require tight operations