| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Fair |
| Demographics | 24th | Fair |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1901 Elm St, Rosamond, CA, 93560, US |
| Region / Metro | Rosamond |
| Year of Construction | 1987 |
| Units | 36 |
| Transaction Date | 2015-04-15 |
| Transaction Price | $4,625,000 |
| Buyer | PARS-15 LLC |
| Seller | 6622 HOLLYWOOD BOULEVARD PARTNERS LP |
1901 Elm St Rosamond Multifamily Investment
This 36-unit property built in 1987 benefits from neighborhood-level occupancy of 91.5% and a rental share that supports consistent multifamily property research demand, according to CRE market data from WDSuite.
Located in Rosamond's Inner Suburb designation within the Bakersfield metro, this neighborhood ranks in the top quartile among 247 metro neighborhoods for park access and childcare availability. The area demonstrates solid fundamentals with 38.3% of housing units occupied by renters, creating a stable tenant base for multifamily operators.
Demographic statistics aggregated within a 3-mile radius show a population of approximately 17,600 residents with median household income of $84,127. Five-year projections indicate 17% population growth and a 40% increase in households, expanding the renter pool and supporting occupancy stability. The forecast suggests household income growth to $105,259 median by 2028, potentially strengthening tenant quality and renewal rates.
The property's 1987 construction year positions it among the newer stock in a neighborhood where average construction dates to 1969. This vintage advantage may translate to reduced near-term capital expenditure needs while maintaining competitive positioning. Median contract rents of $873 in the neighborhood rank below metro averages, suggesting potential for measured rent growth as demographic improvements materialize.
Amenity density supports tenant retention with above-average access to grocery stores and restaurants. The neighborhood's rent-to-income ratio ranks in the top quartile nationally, indicating sustainable affordability levels that may support lease renewal rates and reduce turnover costs.
Crime metrics place this neighborhood near the middle of the 247-neighborhood Bakersfield metro, with property offense rates showing a notable 33% improvement over the past year. This downward trend in property crime may contribute to tenant retention and appeal to quality renters seeking stable residential environments.
Violent crime rates remain moderate compared to regional averages, though recent data shows a 10% uptick that warrants monitoring. Overall, the safety profile appears manageable for multifamily operations, with improving property crime trends potentially supporting long-term occupancy stability.
The regional employment base includes significant aerospace and industrial employers within commuting distance, supporting workforce housing demand in the Rosamond area.
- Lockheed Martin Aeronautics Co. — defense & aerospace (17.4 miles)
- Waste Management - Palmdale — waste management services (20.2 miles)
- Boston Scientific Neuromodulation — medical technology (36.6 miles)
- Amerisourcebergen — pharmaceutical distribution (37.0 miles)
This 36-unit property offers stable cash flow fundamentals with neighborhood occupancy of 91.5% and a substantial renter population supporting demand. The 1987 construction provides competitive positioning in an older housing stock while minimizing immediate capital requirements. Commercial real estate analysis from WDSuite indicates favorable demographic trends, with 17% population growth and 40% household expansion projected through 2028, potentially strengthening the tenant base.
The rent-to-income ratio ranks in the top quartile nationally, suggesting sustainable affordability that may support retention and renewal rates. Median household income growth from $84,127 to a projected $105,259 could enhance tenant quality while maintaining accessibility. However, investors should monitor recent upticks in violent crime and assess capital planning needs for the 37-year-old asset.
- Solid occupancy fundamentals with 91.5% neighborhood-level performance
- Strong demographic growth trajectory with 17% population increase projected
- Competitive 1987 vintage in neighborhood with 1969 average construction
- Favorable rent-to-income ratios supporting tenant retention potential
- Risk consideration: Recent uptick in violent crime requires ongoing monitoring