| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Fair |
| Demographics | 70th | Best |
| Amenities | 29th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 840 E Ridgecrest Blvd, Ridgecrest, CA, 93555, US |
| Region / Metro | Ridgecrest |
| Year of Construction | 1987 |
| Units | 58 |
| Transaction Date | 2016-03-18 |
| Transaction Price | $2,925,000 |
| Buyer | PODOLSKY MIGUEL |
| Seller | MITCHELL TAB |
840 E Ridgecrest Blvd Ridgecrest CA Multifamily Investment
Neighborhood renter demand is supported by above-average incomes and everyday amenities, while occupancy trends are steady though below the metro median, according to WDSuite’s CRE market data.
Located in Ridgecrest within the Bakersfield metro, the neighborhood carries an A- rating (ranked 46 out of 247 metro neighborhoods), signaling competitive fundamentals among Bakersfield submarkets. Everyday convenience is a relative strength: grocery and dining options benchmark in the upper national percentiles, which helps support renter retention and daily livability. School quality is competitive among Bakersfield neighborhoods as well, which can aid longer-term tenancy for households.
The building’s 1987 vintage is newer than the neighborhood’s average 1979 construction year. That positioning can be advantageous versus older local stock, while investors should still plan for aging systems and selective modernization to keep the asset competitive.
Neighborhood renter concentration is above the national norm, indicating depth in renter-occupied housing units and a larger tenant base for multifamily. At the same time, neighborhood occupancy trends sit below the metro median, suggesting leasing outcomes will benefit from active management and competitive positioning. Median contract rents benchmark above national averages, while rent-to-income levels indicate manageable affordability pressure that can support retention if pricing is calibrated carefully based on multifamily property research.
Within a 3-mile radius, recent population and household counts dipped modestly, but projections point to population growth and a notable increase in households by 2028, expanding the potential renter pool. Median household incomes in the 3-mile area have risen and are projected to continue growing, reinforcing demand for quality units and supporting stable occupancy and rent collections.
Ownership costs in this area are relatively accessible compared with many California markets, which can create some competition with for-sale options. However, elevated neighborhood incomes and the convenience of nearby essentials help sustain rental demand, supporting lease retention for well-maintained and well-managed communities.
Safety indicators for the neighborhood are competitive among the 247 Bakersfield metro neighborhoods, with overall conditions benchmarking modestly better than national averages. According to CRE market data from WDSuite, both violent and property offense rates have trended lower year over year, which supports leasing stability and resident retention without making block-level claims.
As always, investors should evaluate micro-location patterns and property-specific security features as part of diligence, using neighborhood-level trends as context rather than definitive on-site conditions.
This 58-unit property at 840 E Ridgecrest Blvd offers scale in a neighborhood with competitive livability and a renter base supported by upper-percentile incomes and everyday amenities. The 1987 vintage is newer than the local average, positioning the asset well against older stock while leaving room for targeted value-add through system upgrades and interior refreshes. According to CRE market data from WDSuite, neighborhood occupancy sits below the metro median, so execution on leasing, turn efficiency, and unit differentiation will be important to capture demand.
Within a 3-mile radius, forward-looking demographics indicate population growth and a meaningful increase in households by 2028, implying a larger tenant base over the hold period. Neighborhood rent levels are above national benchmarks, and rent-to-income readings suggest room for disciplined pricing without overextending affordability, supporting steady collections if managed carefully.
- 58-unit scale with competitive neighborhood livability and income depth
- 1987 vintage newer than local average, with value-add potential via modernization
- Projected 3-mile population and household growth supports renter pool expansion
- Above-national rent benchmarks with manageable rent-to-income aids retention
- Risks: occupancy below metro median and some competition from accessible ownership options