| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Fair |
| Demographics | 68th | Best |
| Amenities | 38th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 501 W Drummond Ave, Ridgecrest, CA, 93555, US |
| Region / Metro | Ridgecrest |
| Year of Construction | 1972 |
| Units | 50 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
501 W Drummond Ave Ridgecrest Multifamily Opportunity
Neighborhood fundamentals signal steady renter demand and improving occupancy trends, according to WDSuite’s CRE market data. Metrics cited reflect neighborhood conditions rather than performance of the property itself.
The property sits in Ridgecrest within the Bakersfield, CA metro, in a suburban neighborhood rated A and ranked 30 out of 247 metro neighborhoods — a position in the top quartile locally. For investors, that relative standing indicates durable fundamentals and tenant appeal at the neighborhood level, not a guarantee for the asset.
Livability indicators are mixed but serviceable for workforce-oriented housing. Neighborhood grocery and pharmacy access track above national norms (around the 70th and 84th percentiles), and restaurant density is also comparatively strong. By contrast, cafés and parks are sparse in this immediate area, which may limit some lifestyle conveniences but typically aligns with car-oriented suburban submarkets.
Schools average about the 61st percentile nationally, providing a modestly supportive backdrop for family renters. Neighborhood occupancy trends are competitive versus national benchmarks and have improved over the past five years, which can help support leasing stability and retention. Rents sit above the national median for comparable neighborhoods, while home values are near the middle of the national distribution — a mix that can sustain renter reliance on multifamily housing without overextending affordability.
Within a 3-mile radius, demographics show a balanced age mix and resilient household counts with a modest increase over the last five years. The share of renter-occupied housing units in this radius is significant, providing a meaningful tenant base; forward projections indicate continued growth in households, which can expand the renter pool and support occupancy over time. The neighborhood’s average construction vintage trends near 1970, and this property’s 1972 vintage suggests potential value-add through targeted renovations and building system updates.
Neighborhood safety indicators are broadly in line with national medians overall, with property crime levels comparatively elevated but trending down. Recent year-over-year estimates point to double-digit declines in both property and violent offenses, placing those improvements above many neighborhoods nationwide. These metrics reflect neighborhood conditions and should be evaluated alongside on-site security, lighting, and management practices.
In the Bakersfield metro context (247 neighborhoods), this area tracks around the middle of the pack on overall crime, with recent improvement momentum. For underwriting, investors may wish to account for the area’s property-crime exposure while recognizing the favorable direction of change.
This 50-unit, 1972-vintage asset offers a practical value-add angle in a suburban Ridgecrest neighborhood that ranks in the top quartile among 247 Bakersfield-metro neighborhoods. Neighborhood occupancy has improved over the last five years and remains competitive versus national benchmarks, while rents trend above national medians for similar neighborhoods. Home values sit near the national middle, reinforcing steady renter reliance on multifamily housing and supporting pricing power without excessive affordability pressure, based on CRE market data from WDSuite.
Within a 3-mile radius, household counts have been resilient and are projected to grow, expanding the renter pool over time. The asset’s vintage points to scope for modernization — common areas, unit interiors, and building systems — to capture rent premiums relative to older nearby stock, while maintaining a workforce-oriented positioning that fits local income profiles.
- Competitive neighborhood standing (top quartile locally) supports demand durability
- Improving neighborhood occupancy trends bolster leasing stability
- 1972 vintage provides clear value-add path via targeted renovations
- Balanced ownership landscape sustains renter reliance and pricing power
- Risk: property-crime exposure near metro median; continued management and security focus recommended