| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Good |
| Demographics | 51st | Good |
| Amenities | 45th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 405 Rick Ct, Ridgecrest, CA, 93555, US |
| Region / Metro | Ridgecrest |
| Year of Construction | 1986 |
| Units | 20 |
| Transaction Date | 2019-01-26 |
| Transaction Price | $1,200,000 |
| Buyer | LEBLANC MARC E |
| Seller | RICK COURT LLC |
405 Rick Ct Ridgecrest Multifamily Investment
This 20-unit property benefits from 100% neighborhood occupancy rates and stable rental demand in an inner suburb market. CRE market data from WDSuite shows the area maintains strong occupancy fundamentals relative to regional averages.
Built in 1986, this property sits in an inner suburb neighborhood that ranks in the top quartile among 247 metro neighborhoods for overall investment metrics. The area demonstrates strong occupancy fundamentals with 100% neighborhood-level occupancy rates, significantly outperforming typical market conditions and indicating robust rental demand stability.
Demographics within a 3-mile radius show a stable tenant base with median household income of $86,368 and moderate rent-to-income ratios supporting affordability. The area maintains 50.8% renter-occupied housing units, providing a solid rental market foundation. Population projections indicate modest growth of 5.2% through 2028, supporting sustained tenant demand.
The neighborhood offers essential amenities including childcare facilities and pharmacy access that support tenant retention. While amenity density ranks in the middle tier among metro neighborhoods, the area provides necessary services for residents. Median contract rents of $1,031 position the market competitively within the broader region.
The property's 1986 construction year aligns with the neighborhood average vintage of 1966, indicating consistent building stock that may present value-add renovation opportunities for investors seeking to enhance unit appeal and rental rates.
Safety metrics show mixed trends with property crime rates ranking 205th among 247 metro neighborhoods, placing it in the lower portion of regional performance. However, recent data indicates improving conditions with property crime declining 58.3% year-over-year, ranking 15th among metro neighborhoods for crime reduction trends.
Violent crime rates remain relatively moderate compared to national benchmarks, with the neighborhood showing stability in recent reporting periods. Investors should monitor these trends as part of ongoing property management and tenant retention strategies.
Employment data for specific major employers near this Ridgecrest location is limited in available datasets. The broader area benefits from government and defense-related employment typical of California's inland regions.
- Regional employment base supports steady rental demand from government and service sector workers
This 20-unit property offers investors exposure to a stable inner suburb rental market with exceptional occupancy fundamentals. The 100% neighborhood occupancy rate significantly exceeds typical market conditions, indicating strong underlying rental demand. According to multifamily property research from WDSuite, the area ranks in the top quartile among 247 metro neighborhoods for overall investment metrics.
The 1986 construction year presents potential value-add opportunities through strategic renovations and unit improvements. Demographics within a 3-mile radius show stable household incomes of $86,368 with modest population growth projected through 2028, supporting sustained tenant demand. The property's 610 square foot average unit size aligns with affordable housing needs in the market.
- Exceptional 100% neighborhood occupancy rates indicate strong rental demand stability
- Top quartile ranking among 247 metro neighborhoods for investment fundamentals
- 1986 vintage offers value-add renovation potential for rent growth
- Stable demographics with modest population growth supporting tenant base expansion
- Property crime trends show significant 58% year-over-year improvement, though overall safety metrics require monitoring