| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Poor |
| Demographics | 14th | Poor |
| Amenities | 17th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2830 Oak Creek Rd, Mojave, CA, 93501, US |
| Region / Metro | Mojave |
| Year of Construction | 1988 |
| Units | 42 |
| Transaction Date | 2010-04-21 |
| Transaction Price | $310,500 |
| Buyer | KERN 2008 COMMUNITY PARTNERS LP |
| Seller | DESERT OAK INVESTORS |
2830 Oak Creek Rd Mojave Multifamily Investment
This 42-unit property benefits from a strong rental market with 61% renter occupancy within a 3-mile radius, positioning it well for consistent tenant demand. Neighborhood-level occupancy of 91% according to WDSuite's CRE market data suggests stable leasing fundamentals in the Mojave submarket.
Built in 1988, this property is newer than the neighborhood average construction year of 1962, providing a competitive advantage in terms of building systems and reduced near-term capital expenditure needs. The neighborhood ranks above metro median among 247 Bakersfield metro neighborhoods for rental share, with 55.1% of housing units occupied by renters—a 91st national percentile performance that indicates strong rental market fundamentals.
Demographic data aggregated within a 3-mile radius shows current median household income of $53,020 with projected growth to $78,677 by 2028, representing a 48% increase that should support rent growth potential. The area's population is forecast to grow 55% over the next five years, expanding from approximately 3,079 to 4,785 residents, which translates to a larger potential tenant base and supports occupancy stability.
Current neighborhood-level median rent of $856 with 39% growth over the past five years demonstrates pricing power, while remaining affordable relative to projected income levels. The rent-to-income ratio of 0.21 suggests sustainable affordability for tenants. Home values averaging $192,800 with 95% appreciation over five years may keep potential buyers in the rental market longer, supporting tenant retention.
Amenity density is limited, with the neighborhood ranking 142nd of 247 metro areas for overall amenities. However, grocery access appears adequate with 0.21 stores per square mile, ranking above metro median. The suburban character and lower amenity density may appeal to cost-conscious renters seeking value over convenience.
The neighborhood's safety profile ranks 161st of 247 Bakersfield metro neighborhoods, placing it above metro median for crime metrics. With a 34th national percentile ranking, the area performs moderately compared to neighborhoods nationwide, though property crime rates of approximately 469 incidents per 100,000 residents remain within manageable ranges for multifamily operations.
Violent crime rates are relatively low at 74 incidents per 100,000 residents, ranking 183rd of 247 metro neighborhoods. While both property and violent crime showed increases over the past year (10% and 39% respectively), these trends align with broader regional patterns and should be monitored as part of ongoing property management considerations.
The employment base draws from aerospace and defense industries concentrated in the broader Antelope Valley region, providing workforce housing opportunities for commuters to major corporate facilities.
- Lockheed Martin Aeronautics Co. — defense & aerospace (30.9 miles)
- Waste Management - Palmdale — waste services (33.7 miles)
- Boston Scientific Neuromodulation — medical technology (47.2 miles)
- Amerisourcebergen — pharmaceutical distribution (47.9 miles)
This 1988-vintage property offers value-add potential in a rental-heavy market with strong occupancy fundamentals. The neighborhood's 91st national percentile ranking for rental share indicates established tenant demand, while projected population growth of 55% over five years should expand the renter pool significantly. Current median household income growth projections of 48% by 2028 support rent escalation opportunities, particularly given the area's current affordable rent-to-income ratio of 0.21.
According to multifamily property research from WDSuite, the combination of stable 91% neighborhood occupancy, strong rental market penetration, and demographic tailwinds positions this asset for consistent cash flow generation. The property's newer vintage relative to neighborhood norms minimizes immediate capital expenditure risks while providing renovation upside potential as income levels rise.
- Strong rental fundamentals with 61% renter occupancy in 3-mile radius and 91% neighborhood occupancy
- Significant demographic growth projected with 55% population increase and 48% income growth by 2028
- Value-add opportunity through property improvements in an established rental market
- Affordable rent levels provide runway for future rent growth as incomes rise
- Risk: Limited amenity infrastructure and remote location may constrain tenant appeal and rental premiums