| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Fair |
| Demographics | 57th | Best |
| Amenities | 26th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 919 N Heritage Dr, Ridgecrest, CA, 93555, US |
| Region / Metro | Ridgecrest |
| Year of Construction | 1986 |
| Units | 46 |
| Transaction Date | 2019-12-04 |
| Transaction Price | $6,400,000 |
| Buyer | SUNSTART LLC |
| Seller | BLUE SKY ADVENTURES LLC |
919 N Heritage Dr Ridgecrest Multifamily Investment
This 46-unit property built in 1986 serves a stable suburban neighborhood with strong occupancy fundamentals and educated demographics. According to CRE market data from WDSuite, the area maintains above-average rental demand within the Bakersfield metro.
The Heritage Drive neighborhood ranks among the top quartile of Bakersfield metro areas for education levels, with over one-third of residents holding bachelor's degrees. This suburban community maintains neighborhood-level occupancy rates of 95.7%, positioning it competitively among 247 metro neighborhoods. The area benefits from a favorable rent-to-income ratio of 0.11, suggesting rental affordability that supports tenant retention and lease stability.
Demographics within a 3-mile radius show a stable household base of approximately 10,600 households, with moderate income growth trends supporting rental demand. The area's 39.7% share of renter-occupied housing units provides a solid foundation for multifamily operations. Median household incomes of $84,500 align with regional workforce housing demand, while projected household growth of nearly 30% through 2028 indicates expanding renter pool potential.
Built in 1986, this property aligns with the neighborhood's average construction vintage of 1979, suggesting consistent building stock and potential value-add opportunities through strategic renovations. Home values averaging $277,000 create a moderate ownership threshold that maintains rental market participation without excessive competition from homeownership options. The suburban setting offers park access above metro averages while restaurant density supports tenant lifestyle preferences.
Investment considerations include limited grocery and retail amenities, which rank below metro averages and may impact tenant convenience expectations. School ratings average 1.0 out of 5, potentially affecting family-oriented tenant attraction, though the educated adult population suggests professional renters who may prioritize other neighborhood attributes.
Safety metrics for the Heritage Drive area show mixed trends that warrant monitoring. The neighborhood ranks 110th out of 247 metro neighborhoods for overall crime, placing it near the metro median with a 47th national percentile for safety performance. Property crime rates have increased 18.5% year-over-year, though violent crime has decreased 8.5% during the same period.
These safety dynamics reflect broader suburban trends where property crime fluctuations may relate to economic pressures, while violent crime improvements suggest community stability. Investors should consider these patterns when evaluating tenant retention strategies and property management protocols, particularly given the area's educated demographics and stable occupancy fundamentals.
Employment data for major corporate anchors near this Ridgecrest location is not currently available in our database.
This Ridgecrest multifamily asset presents a value-oriented opportunity in a stable suburban market with strong fundamentals. The property benefits from neighborhood-level occupancy rates of 95.7% and serves an educated tenant base where over one-third of residents hold bachelor's degrees. Demographic projections within a 3-mile radius indicate household growth of nearly 30% through 2028, supporting long-term rental demand expansion.
The 1986 construction vintage offers potential value-add upside through strategic renovations, while the favorable rent-to-income ratio of 0.11 provides tenant affordability that supports retention. According to multifamily property research from WDSuite, the area maintains competitive positioning within the broader Bakersfield metro for demographic strength and rental fundamentals.
- Above-average neighborhood occupancy at 95.7% indicates stable rental demand
- Educated demographics with 34% bachelor's degree attainment support professional tenant base
- Projected 30% household growth through 2028 suggests expanding renter pool
- 1986 vintage offers value-add potential through strategic capital improvements
- Risk: Limited retail amenities and below-average school ratings may constrain tenant appeal