| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Good |
| Demographics | 25th | Fair |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 235 W Tulare Ave, Shafter, CA, 93263, US |
| Region / Metro | Shafter |
| Year of Construction | 1980 |
| Units | 48 |
| Transaction Date | 2015-03-27 |
| Transaction Price | $246,500 |
| Buyer | GEAHI TULARE ARMS LP |
| Seller | TULARE ARMS |
235 W Tulare Ave Shafter Multifamily Investment
This 48-unit property built in 1980 operates in a neighborhood with 100% occupancy rates and below-market rents, according to CRE market data from WDSuite.
The property sits in Shafter's inner suburb environment, where neighborhood-level occupancy reaches 100% compared to typical metro performance. Demographics within a 3-mile radius show stable household formation with 4,897 total households and a median income of $65,030, supporting consistent rental demand for workforce housing.
At $763 median contract rent, the neighborhood ranks in the 35th percentile nationally, indicating below-market pricing that may offer repositioning opportunities. The area maintains a 31.9% share of renter-occupied housing units, ranking above the 70th percentile nationally for rental tenure. Home values at $310,759 median create ownership barriers that sustain rental demand, with a rent-to-income ratio ranking in the 80th percentile nationally for affordability.
The 1980 construction year aligns closely with the neighborhood's 1951 average, suggesting potential value-add opportunities through targeted capital improvements. Demographic projections through 2028 indicate household growth of 33.1% and median income increases to $92,348, expanding the potential tenant base while supporting rent growth prospects.
The neighborhood demonstrates mixed safety trends based on recent crime data. Property offense rates rank 7th among 247 metro neighborhoods, placing it in the 89th percentile nationally for property crime safety. However, violent offense rates show recent increases, with a year-over-year change of 290.6% ranking in the 6th percentile nationally.
Despite the uptick in violent crime, property offense rates declined 77.1% year-over-year, ranking in the 97th percentile nationally for improvement. Investors should monitor these trends closely, as safety perceptions can impact tenant retention and lease-up velocity in multifamily properties.
Limited major employer data is available for the immediate Shafter area, reflecting the community's agricultural and small business economy. The broader Kern County region provides employment diversity through agriculture, energy, and logistics sectors that support the local workforce housing market.
This 48-unit property offers value-add potential through its 1980 vintage and below-market rent positioning. Neighborhood occupancy at 100% and rent-to-income ratios in the 80th percentile nationally indicate strong tenant retention fundamentals. Projected household growth of 33.1% through 2028 and median income increases to $92,348 support expanding rental demand in this workforce housing market.
The property's $763 median neighborhood rent ranks in the 35th percentile nationally, suggesting repositioning upside as demographics strengthen. Home values at $310,759 create ownership accessibility challenges that reinforce rental demand, while the area's inner suburb classification provides stability for long-term hold strategies.
- 100% neighborhood occupancy indicates strong rental demand fundamentals
- Below-market rents provide repositioning and value-add opportunities
- Projected 33.1% household growth supports expanding tenant base through 2028
- Risk: Recent violent crime increases require ongoing monitoring for tenant retention impact