| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Good |
| Demographics | 51st | Good |
| Amenities | 45th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 410 Rick Ct, Ridgecrest, CA, 93555, US |
| Region / Metro | Ridgecrest |
| Year of Construction | 1988 |
| Units | 60 |
| Transaction Date | 2019-03-21 |
| Transaction Price | $3,600,000 |
| Buyer | LEBLANC MARC |
| Seller | STATE ROAD RIDGECREST PROPERTIES LLC |
410 Rick Ct Ridgecrest Multifamily Investment Opportunity
Neighborhood occupancy ranks first among 247 Bakersfield metro neighborhoods, signaling durable renter demand at the area level, according to WDSuite’s CRE market data. This stability, paired with a value-oriented Inland California location, positions the asset for consistent leasing performance.
Situated in Ridgecrest within the Bakersfield, CA metro, the neighborhood posts an A rating and ranks 31st of 247 metro neighborhoods, placing it above the metro median. For investors, this suggests solid fundamentals and steady renter interest at the neighborhood level, not a guarantee for the property itself.
Livability drivers are balanced: grocery and pharmacy access score above national medians (national percentiles in the low 60s to mid 70s), while cafes and parks are limited locally. Average school ratings trend modest (about 2.0 out of 5), which may matter for family-oriented tenant segments and should be considered in leasing strategy.
The housing stock skews older (average vintage 1966), and this 1988 property is newer than much of the immediate competitive set—supporting relative positioning against older assets, while still warranting routine system upgrades as the asset ages. Neighborhood renter-occupied share sits around half of housing units (about 50.8%), indicating a meaningful renter base that can support leasing depth and retention across cycles.
Within a 3-mile radius, demographics show a slight population contraction over the last five years alongside a small increase in households, implying smaller household sizes and a stable tenant base. Forward-looking estimates point to population and household growth by 2028, which would expand the local renter pool and support occupancy. Median contract rents are moderate and rent-to-income ratios around the mid-teens suggest manageable affordability pressure, supporting pricing discipline and renewal outcomes.
Home values in the neighborhood are lower than many California markets, which can create some competition with ownership options. Even so, the high-cost ownership dynamics seen elsewhere in the state are less pronounced here, and moderate ownership costs tend to keep multifamily demand steady without unduly pressuring retention.
Safety indicators are mixed relative to national benchmarks. Overall crime ranks 107th among 247 metro neighborhoods, roughly around the metro middle, while national percentiles suggest safety levels that are below the national median. Investors should consider standard security and lighting enhancements as part of operating plans, consistent with similar Inland California submarkets.
Recent trend data shows property offenses declining sharply year over year (among the stronger improvements nationally), while violent offense measures sit below the national median. These comparative trends suggest conditions that are stabilizing at the neighborhood level, but underwriting should still reflect prudent assumptions and on-site risk management.
Built in 1988 with a 60-unit scale, the asset competes favorably against an older neighborhood stock while still benefiting from operational upgrades that can elevate positioning. Neighborhood occupancy ranks first among 247 metro peers, and, according to CRE market data from WDSuite, area-level demand and manageable rent-to-income ratios support leasing stability and measured pricing power. Within a 3-mile radius, near-term demographic softness is offset by projected population and household growth, pointing to a larger tenant base over the next several years.
Balanced amenities, moderate rents, and a meaningful renter-occupied share provide depth to demand, while school quality, limited parks/cafes, and mixed safety benchmarks warrant conservative underwriting and targeted capital plans. Overall, the setup favors long-term income durability with value-add potential through strategic renovations and resident experience improvements.
- Occupancy leadership at the neighborhood level among 247 metro areas supports leasing stability
- 1988 vintage outcompetes older local stock, with room for modernization to enhance rents
- Projected population and household growth within 3 miles expands the renter pool
- Moderate rents and rent-to-income dynamics aid renewal rates and pricing discipline
- Risks: modest school ratings, limited parks/cafes, and mixed safety metrics call for prudent underwriting