| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Fair |
| Demographics | 6th | Poor |
| Amenities | 47th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8964 Hall Rd, Lamont, CA, 93241, US |
| Region / Metro | Lamont |
| Year of Construction | 1979 |
| Units | 48 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
8964 Hall Rd Lamont 48-Unit Multifamily Investment
This 1979-built property serves a predominantly renter market with 61.5% of housing units occupied by tenants within a 3-mile radius. Neighborhood occupancy rates of 91% indicate stable rental demand in this Kern County location.
This 48-unit property sits in an inner suburb neighborhood of Lamont, built in 1979 when the local construction average was 1953. The older vintage presents potential value-add opportunities through strategic renovations and unit improvements, positioning investors to capture upside through capital improvements.
Demographics within a 3-mile radius show a strong rental market foundation, with 61.5% of housing units occupied by renters and an average household size of 3.7. The area maintains a 91% occupancy rate, ranking in the middle tier among 247 Bakersfield metro neighborhoods. Median contract rents of $748 reflect affordable housing positioning, while home values averaging $196,135 support sustained rental demand as ownership costs remain elevated relative to local incomes.
The neighborhood demonstrates mixed amenity access, with grocery stores ranking in the 95th percentile nationally at 4.4 stores per square mile and restaurants also performing strongly. However, limited childcare and park facilities may impact tenant appeal. School ratings average 1.0 out of 5, ranking in the lower tier among metro neighborhoods, which could influence family tenant retention strategies.
Looking forward, household projections within the 3-mile radius show a 47% increase expected by 2028, expanding the potential renter pool significantly. This growth, combined with median rent forecasts rising to $971, suggests strengthening fundamentals for multifamily demand, according to CRE market data from WDSuite.
Property crime rates in the neighborhood rank 88th among 247 Bakersfield metro neighborhoods, placing it in the 55th percentile nationally. Recent trends show property crime declining 17% year-over-year, indicating improving conditions for tenant security concerns.
Violent crime rates rank 127th among metro neighborhoods, positioning in the 52nd percentile nationally with rates of 30.4 incidents per 100,000 residents. More notably, violent crime has decreased 43.7% over the past year, ranking in the 83rd percentile nationally for crime reduction trends, suggesting positive trajectory in neighborhood safety metrics.
Limited major corporate employers are identified in the immediate vicinity of this Lamont location. The employment base primarily consists of agricultural and service sector jobs typical of rural Kern County communities.
- Local agricultural operations and processing facilities support the regional workforce
- Service sector employers in nearby Bakersfield provide additional employment opportunities
- Transportation and logistics companies serve the broader Central Valley region
This 48-unit property built in 1979 offers value-add potential through strategic renovations in a market showing demographic tailwinds. With 61.5% renter occupancy within a 3-mile radius and household growth projected at 47% through 2028, the fundamentals support expanding rental demand. Current neighborhood occupancy of 91% demonstrates market stability, while affordable rent positioning at $748 median provides room for improvement through property upgrades.
The investment case centers on capturing upside from an older vintage asset in a strengthening rental market. Rent forecasts project 30% growth to $971 by 2028, supported by limited new supply and growing household formation. However, investors should consider the rural location's employment limitations and below-average school ratings when evaluating long-term tenant retention strategies.
- Strong rental market with 61.5% renter-occupied housing units and 91% neighborhood occupancy
- Significant household growth projected at 47% increase through 2028 expanding renter pool
- Value-add opportunity through 1979 vintage property improvements and rent optimization
- Affordable positioning with median rents at $748 allowing for strategic increases
- Risk consideration: Rural employment base and low school ratings may impact tenant quality and retention