| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 41st | Poor |
| Demographics | 18th | Fair |
| Amenities | 52nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2701 Erskine Creek Rd, Mountain Mesa, CA, 93240, US |
| Region / Metro | Mountain Mesa |
| Year of Construction | 1995 |
| Units | 40 |
| Transaction Date | 2025-08-21 |
| Transaction Price | $3,072,500 |
| Buyer | LAKE ISABELLA INVESTMENT GROUP LP |
| Seller | LAKE ISABELLA ENTERPRISES II |
2701 Erskine Creek Rd Mountain Mesa Multifamily Opportunity
Built in 1995, this 40-unit asset is newer than the neighborhood s 1970s-era stock and can compete on condition while targeting workforce renters; according to WDSuite s CRE market data, local renter concentration supports demand depth even as neighborhood occupancy trends warrant disciplined lease-up planning.
Mountain Mesa sits within the Bakersfield, CA metro and skews rural, offering everyday conveniences over density. Neighborhood amenities are mixed: grocery, parks, and pharmacy access track above national medians (around the 60th th percentiles), while cafe density is limited. Restaurants are comparatively accessible (competitive among Bakersfield neighborhoods and above national median), supporting daily living but not a destination profile.
The property s 1995 vintage is newer than the area s average construction year of 1973, giving it a relative edge versus older local stock. For investors, this positioning can reduce near-term capital exposure compared with 1970s assets, while still leaving room for selective system upgrades or light value-add to drive rents and retention.
Tenure patterns indicate roughly one-third of housing units are renter-occupied in the neighborhood (nationally around the upper quartiles for renter share), which suggests a meaningful tenant base for multifamily. However, neighborhood occupancy has been softer than metro norms, pointing to the need for thoughtful marketing, right-sized unit finishes, and conservative underwriting on lease-up velocity.
Within a 3-mile radius, recent demographics showed population contraction and fewer households over the last five years, yet WDSuite s projections indicate potential growth ahead by 2028, including an increase in total households. If realized, that would expand the local renter pool and support occupancy stability. Median home values in the neighborhood are low relative to national norms, which can introduce competition from ownership options; balancing this, median contract rents are also on the lower end nationally, helping sustain renter reliance on multifamily despite some affordability pressure (rent-to-income is elevated).
Safety indicators compare modestly well to national norms overall: the neighborhood trends around the safer side of the national median for total crime and violent incidents. Property offenses sit closer to the national middle, and recent data show material improvement in violent incident rates year over year. For investors, this translates into a generally stable backdrop with continued attention to on-site lighting, access control, and visibility to sustain resident confidence.
This 40-unit property built in 1995 offers a competitive vintage against predominantly 1970s neighborhood stock, which can lower immediate capital needs while creating room for targeted value-add. Neighborhood renter concentration provides depth, but softer occupancy at the neighborhood level argues for disciplined underwriting and emphasis on operational execution. According to CRE market data from WDSuite, amenities essential to daily living score above national medians, supporting livability despite a rural context.
Three-mile demographics softened in the recent past but are projected to expand by 2028, pointing to potential renter pool growth that could aid absorption and retention. Low neighborhood home values can increase competition from ownership, yet comparatively low prevailing rents help sustain multifamily demand. Execution focus should be on right-sizing upgrades, resident services, and leasing to stabilize effectively.
- 1995 vintage competes well versus older local stock, with selective upgrade upside
- Renter concentration supports demand depth for workforce-oriented units
- Daily-need amenities track above national medians, aiding resident retention
- Projected household growth (3-mile radius) could expand the tenant base
- Risk: neighborhood occupancy is soft; plan conservative lease-up and targeted CAPEX