| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Fair |
| Demographics | 24th | Fair |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3131 Sierra Hwy, Rosamond, CA, 93560, US |
| Region / Metro | Rosamond |
| Year of Construction | 1995 |
| Units | 32 |
| Transaction Date | 1993-10-11 |
| Transaction Price | $124,000 |
| Buyer | ROSAMOND HILLS APTS PHASE II INC |
| Seller | ROSAMOND HILLS INC |
3131 Sierra Hwy Rosamond Multifamily Investment
This 32-unit property built in 1995 sits in a neighborhood with 91.5% occupancy and substantial demographic growth projected through 2028, according to CRE market data from WDSuite.
This 32-unit property was built in 1995, positioning it slightly newer than the neighborhood average of 1969. The more recent construction vintage suggests reduced near-term capital expenditure needs compared to older multifamily stock in the area.
The neighborhood maintains 91.5% occupancy rates, ranking above the metro median among 247 neighborhoods in the Bakersfield region. Demographics within a 3-mile radius show population growth of 4% over the past five years, with projections indicating an additional 16.4% increase through 2028. This expansion translates to a larger potential tenant base, supporting occupancy stability for multifamily properties.
Rental housing represents 38.3% of occupied units in the neighborhood, placing it in the top quartile nationally for rental share. Median household income has increased 50.2% over five years to $84,444, while contract rents rose 36.4% to $1,196. The area offers strong amenity access with grocery stores ranking in the 85th percentile nationally and parks scoring in the 86th percentile, supporting tenant retention.
Home values at $282,223 median create ownership costs that help sustain rental demand, particularly as household income growth continues. The neighborhood's B+ rating reflects balanced fundamentals across housing, demographics, and amenities that support multifamily investment considerations.
Property crime rates in the neighborhood show a declining trend, with a 32.9% decrease over the past year, ranking in the 76th percentile nationally for improvement. Current property offense rates of 314.5 per 100,000 residents place the area near the metro median among 247 neighborhoods in the Bakersfield region.
Violent crime remains relatively low at 37.8 incidents per 100,000 residents, though this metric increased 10.2% year-over-year. Overall crime conditions rank in the 53rd percentile nationally, indicating moderate safety levels compared to neighborhoods across the country.
The area benefits from proximity to major aerospace and corporate employers that provide workforce housing demand within commuting distance.
- Lockheed Martin Aeronautics Co. — defense & aerospace (17.9 miles)
- Waste Management - Palmdale — waste services (20.7 miles)
- Boston Scientific Neuromodulation — medical technology (37.0 miles)
- Amerisourcebergen — pharmaceutical distribution (37.5 miles)
This Rosamond property presents stable fundamentals supported by neighborhood-level occupancy of 91.5% and strong demographic tailwinds. Population growth of 16.4% projected through 2028 expands the potential tenant base, while household income increases of 50.2% over five years demonstrate improving renter purchasing power. The 1995 construction year positions the asset with reduced near-term capital needs compared to older neighborhood stock.
Multifamily property research indicates the area maintains competitive rental dynamics, with contract rents growing 36.4% over five years while occupancy remains above metro averages. The high rental share of 38.3% reinforces multifamily demand, supported by home values that sustain rental market participation among area households.
- Neighborhood occupancy of 91.5% above metro median performance
- Strong demographic growth with 16.4% population increase projected through 2028
- 1995 construction vintage reduces near-term capital expenditure requirements
- Household income growth of 50.2% supports rent growth potential
- Monitor competitive pressure from homeownership as values remain attainable relative to regional markets