| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Fair |
| Demographics | 68th | Best |
| Amenities | 38th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 801 N Norma St, Ridgecrest, CA, 93555, US |
| Region / Metro | Ridgecrest |
| Year of Construction | 1987 |
| Units | 26 |
| Transaction Date | 2001-12-12 |
| Transaction Price | $525,000 |
| Buyer | FILLMAN MICHAEL P |
| Seller | K R EQUITIES INC |
801 N Norma St Ridgecrest Multifamily in Top-Quartile Submarket
Neighborhood occupancy in the low-90s and steady renter demand signal durable cash flow potential, based on CRE market data from WDSuite’s Bakersfield metro coverage.
Ridgecrest’s A-rated neighborhood (ranked 30 among 247 Bakersfield neighborhoods) places the asset competitively within the metro, with fundamentals that skew toward stability rather than volatility. The 1987 vintage is newer than the area’s average construction year of 1970, which can enhance renter appeal versus older stock while still warranting selective system updates and common-area refreshes for positioning.
Everyday convenience is a relative strength: grocery and pharmacy access are competitive among Bakersfield neighborhoods (with pharmacy density in the top quartile metro-wide), while restaurant options are solidly competitive. Park and cafe density are thinner, which suggests lifestyle amenities are more utilitarian than experiential—important context for leasing narratives and targeting value-oriented tenants.
Tenure patterns indicate a moderate renter base at the neighborhood level, with a higher renter-occupied share within the broader 3-mile radius. For multifamily owners, that supports a deeper tenant pool than the immediate block group alone might suggest and can help leasing velocity for a well-maintained, mid-1980s asset.
Within a 3-mile radius, demographics are aggregated and point to income growth and a projected increase in population and households over the next five years, expanding the renter pool and supporting occupancy stability. Median home values in the area are below many California markets, which can introduce some competition from ownership; however, rent-to-income levels trend manageable locally, which supports retention and measured pricing power, according to WDSuite’s commercial real estate analysis.
Safety indicators are mixed when benchmarked nationally. Overall crime levels track near the U.S. midpoint, with property offenses higher than many neighborhoods nationwide, but both violent and property incidents have declined year over year and the pace of improvement has outperformed a large share of U.S. neighborhoods. Within the Bakersfield metro, conditions are best characterized as middle-of-the-pack, with recent trendlines moving in a favorable direction.
For investors, this suggests routine security measures and tenant-screening best practices remain prudent, while the recent downward trend may aid leasing confidence and renewal conversations.
This 26-unit, 1987-vintage property offers durable suburban positioning in an A-rated Ridgecrest neighborhood that is top quartile among 247 Bakersfield metro neighborhoods. Larger average unit sizes for the era can support retention, while the asset’s newer-vs-area vintage provides a competitive edge over older nearby stock—paired with targeted capital planning for building systems and finishes. According to CRE market data from WDSuite, neighborhood occupancy sits in the low-90s with steady renter demand, and a broader 3-mile demographic catchment points to rising incomes and a projected expansion in households—tailwinds for lease-up and renewal performance.
Local amenity access is practical (strong grocery/pharmacy access and competitive dining options), though limited parks and cafe density calls for a value-forward positioning strategy. Ownership costs in the area are relatively accessible by California standards, so operators should emphasize convenience, unit livability, and professional management to maintain pricing discipline without pushing retention risk.
- A-rated neighborhood, top quartile in the Bakersfield metro—supports demand and leasing stability
- 1987 vintage vs. older area stock—competitive positioning with selective value-add upside
- Low-90s neighborhood occupancy and expanding 3-mile renter pool underpin renewal potential
- Practical retail access (grocery/pharmacy) enhances daily convenience for workforce renters
- Risk: property crime levels above national norms and limited parks/cafes—plan security and amenities strategy accordingly