| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Fair |
| Demographics | 70th | Best |
| Amenities | 29th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 121 N Gateway Blvd, Ridgecrest, CA, 93555, US |
| Region / Metro | Ridgecrest |
| Year of Construction | 1986 |
| Units | 58 |
| Transaction Date | 2022-05-25 |
| Transaction Price | $5,350,000 |
| Buyer | GATEWAY VILLA LLC |
| Seller | BFLP LLC |
121 N Gateway Blvd Ridgecrest Multifamily Investment
Neighborhood-level occupancy is around 90% and renter-occupied housing is a meaningful share nearby, supporting tenant demand and lease stability, according to WDSuite’s CRE market data. Built in 1986, the asset’s vintage is newer than the local average, suggesting competitive positioning versus older stock with potential for targeted modernization.
Positioned in Ridgecrest within the Bakersfield, CA metro, the neighborhood carries an A- rating and ranks 46th of 247 metro neighborhoods — competitive among Bakersfield neighborhoods. Local restaurant density is comparatively strong while grocery access is solid, though parks, pharmacies, cafes, and childcare are limited, which may shape amenity-driven leasing strategies.
Schools in the area are around the national median (average rating near 3.0 out of 5; 61st percentile nationwide), a neutral factor for family-oriented demand. Neighborhood household incomes sit in the upper national tiers (around the 73rd percentile), which can support rent collections and renewal outcomes relative to lower-income submarkets.
At the neighborhood level, occupancy is approximately 90% and renter concentration is moderate. Within a 3-mile radius, renter-occupied housing accounts for roughly 43% of units, indicating a sizable tenant base for multifamily. Over the past five years, nearby contract rents have risen meaningfully and WDSuite signals continued pricing power depends on asset quality and management, not just market momentum.
Demographics within 3 miles show recent population softness but a projected rebound with increases in household count by 2028, implying a larger tenant base and support for occupancy stability. Elevated home values are not a defining feature here relative to coastal California, and a lower value-to-income ratio suggests ownership is comparatively accessible; investors should monitor potential competition with for-sale options while leveraging multifamily’s convenience and flexibility.
Construction year average in the neighborhood is 1979. With a 1986 vintage, the property is newer than the local average, which helps competitive positioning versus older inventory; investors should still underwrite typical mid-life system updates and selective interior upgrades to defend rents and extend hold-period performance.
Safety indicators are mixed but improving. The neighborhood is competitive among Bakersfield neighborhoods by crime rank and sits modestly above the national median for safety. According to WDSuite’s data, estimated violent and property offense rates have both declined year over year, with notable improvement in violent incidents, which supports operational stability when combined with professional management and lighting/access controls.
As with any asset, conditions can vary within short distances; investors should validate on-the-ground patterns and recent police blotter trends, using the metro and national benchmarks as directional context rather than block-level conclusions.
This 58‑unit, 1986‑built asset offers stable demand drivers in a neighborhood that ranks competitively in the Bakersfield metro, with solid income fundamentals and a meaningful renter base within 3 miles. Neighborhood occupancy near 90% and projected growth in nearby households point to sustained leasing depth, while newer‑than‑average vintage provides a platform for targeted value‑add to enhance rents and retention.
Homeownership remains comparatively accessible locally, so disciplined positioning and asset quality will matter. Even so, rent-to-income levels sit at manageable ranges and, based on commercial real estate analysis from WDSuite, recent rent growth and improving safety trends support the case for durable operations under experienced management.
- Competitive neighborhood ranking in Bakersfield metro with solid income fundamentals
- Meaningful renter base within 3 miles and neighborhood occupancy around 90% support demand
- 1986 vintage is newer than local average, enabling targeted renovations for rent lift
- Improving safety indicators and sustained rent growth, per WDSuite data, aid operating stability
- Risk: relatively accessible ownership market and limited certain amenities may increase competition for residents