| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Good |
| Demographics | 51st | Good |
| Amenities | 45th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 150 Miguel St, Ridgecrest, CA, 93555, US |
| Region / Metro | Ridgecrest |
| Year of Construction | 1986 |
| Units | 43 |
| Transaction Date | 1994-11-09 |
| Transaction Price | $460,000 |
| Buyer | AVITIA MIGUEL A |
| Seller | FERGUSON BILL |
150 Miguel St Ridgecrest 43-Unit Multifamily Investment
Neighborhood occupancy is exceptionally tight and renter concentration is high, pointing to durable tenant demand according to WDSuite’s CRE market data. Positioned in Ridgecrest’s Inner Suburb, the asset benefits from stable fundamentals with room for value-add through targeted modernization.
Ridgecrest’s Inner Suburb neighborhood posts an A rating and ranks 31 out of 247 within the Bakersfield metro, placing it above the metro median and competitive among peer submarkets. Neighborhood occupancy is reported at the top of the metro (rank 1 of 247) and is among the strongest nationally, indicating tight supply conditions at the neighborhood level, not necessarily this property’s occupancy.
The area shows a renter-occupied share of 50.8% (high nationally), which expands the multifamily tenant base and supports leasing stability. Median rents and incomes are mid-range for the region, with a rent-to-income profile that suggests manageable affordability pressure for many renters, aiding retention and renewal strategies. Home values are moderate for California, which can introduce some competition from ownership alternatives but also sustains steady demand for professionally managed rentals.
Livability is serviceable: grocery and pharmacy access rank above average in the metro, and restaurant density trends better than the national midpoint, while parks and cafes are limited. Average school ratings in the neighborhood track below national norms, which may influence family-oriented demand and leasing tactics. These dynamics point to a renter base that prioritizes value, space, and commute convenience over premium amenity adjacency.
Construction patterns skew older in the surrounding neighborhood (average year 1966), while this property’s 1986 vintage is newer. That relative age can be a competitive advantage against older stock, though investors should plan for systems modernization and selective upgrades typical of late-1980s construction. Within a 3-mile radius, recent years show flat households with slight population slippage—implying smaller household sizes—while forward-looking projections indicate population and household growth, supporting a larger tenant base and occupancy stability over the medium term based on CRE market data from WDSuite.
Safety indicators in this neighborhood are mixed. Relative to the Bakersfield metro, the area’s crime rank sits in the lower half (107 out of 247), and national comparisons place the neighborhood below the national median for safety. However, recent neighborhood-level trends show a sharp year-over-year improvement in property offenses, suggesting conditions have been easing, even if overall safety still trails stronger suburban peers. Interpreting these metrics at the neighborhood level is important; they do not reflect any property-specific security measures.
150 Miguel St comprises 43 units built in 1986, positioning it newer than much of the surrounding housing stock. The vintage offers a platform for targeted value-add—interiors, building systems, and curb appeal—that can enhance competitiveness versus older assets while maintaining operating efficiency. Average unit sizes around 1,103 sq. ft. support family and roommate demand profiles that favor space and longer stays. According to CRE market data from WDSuite, the neighborhood’s top-tier occupancy and high renter concentration reinforce depth of demand, while moderate home values and mid-range rents anchor leasing and retention strategies.
Investor attention should balance these strengths with measured risks. School quality trails national averages, park and café access is limited, and safety metrics are below the national midpoint despite recent improvement. Ownership remains relatively accessible in this part of Kern County, which can create competition for some cohorts; disciplined pricing and amenity upgrades can help sustain absorption and renewals as the 3-mile radius sees projected gains in population and households that expand the renter pool.
- Neighborhood occupancy ranks first among 247 metro neighborhoods, supporting leasing stability (neighborhood metric, not property-specific).
- 1986 vintage with value-add potential across interiors and systems to outperform older competing stock.
- Large average unit sizes (~1,103 sq. ft.) align with renter segments seeking space and retention.
- Forecast growth within a 3-mile radius points to a larger tenant base and supports occupancy durability.
- Risks: below-median safety and school ratings, limited parks/cafes, and some competition from ownership options.