| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Fair |
| Demographics | 25th | Fair |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 510 State Ave, Shafter, CA, 93263, US |
| Region / Metro | Shafter |
| Year of Construction | 1977 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
510 State Ave, Shafter CA Multifamily Investment
Stable neighborhood occupancy and a renter base supported by local amenities point to resilient demand, according to WDSuite’s CRE market data. The area’s ownership costs are relatively elevated for the metro, which can sustain renter reliance on multifamily housing.
Shafter’s inner-suburban location combines day-to-day convenience with investment fundamentals that compare favorably in the Bakersfield metro. Neighborhood occupancy is solid and sits above the national midpoint, supporting income stability for well-managed assets. Median contract rents in the area remain moderate relative to incomes, which helps with retention and reduces near-term affordability pressure for tenants.
Amenities are a relative strength: grocery and pharmacy density rank competitive among Bakersfield neighborhoods (39th and 24th out of 247, respectively), with restaurants and cafes also in the upper tiers nationally. Parks access is similarly strong. These dynamics typically support leasing velocity for workforce-oriented assets and underpin consistent renter demand.
Within a 3-mile radius, recent population growth has been modest with households trending upward, pointing to a gradually expanding tenant base. Forecasts indicate additional household growth alongside slightly smaller average household sizes, which can translate to more renters entering the market and support occupancy stability over time.
Home values in the neighborhood are higher relative to local incomes (value-to-income ratio in a high national percentile), reinforcing reliance on rental options and providing owners with steadier pricing power compared with more ownership-accessible submarkets. The average neighborhood construction year skews older; by comparison, the subject’s 1977 vintage positions it newer than much of the local stock, offering an edge versus older competitors while still warranting targeted upgrades for systems and finishes to strengthen competitive positioning.
Tenure patterns show a meaningful homeowner presence locally with a renter-occupied share near one-third in the immediate neighborhood and a larger renter pool within 3 miles. For multifamily investors, that mix suggests steady demand without excessive supply of rentals, supporting balanced lease-up and retention.
Relative to the Bakersfield metro, the neighborhood’s overall crime ranking is competitive (50th out of 247), indicating stronger safety positioning than many peers. Nationally, indicators point to above-average safety, with violent-offense measures in the upper quintile and property-offense measures in a very high national percentile. These comparative readings tend to support renter retention and broaden the potential tenant base.
Trends are mixed: while property-related measures have improved year over year, violent-offense change has moved unfavorably. Investors should underwrite with standard diligence—confirming recent trends with local data and on-the-ground observation—while recognizing the area’s currently favorable standing versus both metro and national benchmarks.
510 State Ave offers a pragmatic workforce housing thesis backed by steady neighborhood occupancy, broad amenity access, and a renter base supported by a high-cost ownership landscape. Based on CRE market data from WDSuite, occupancy in the neighborhood sits above the national midpoint, and household growth within a 3-mile radius points to a gradually expanding tenant base. The 1977 vintage is newer than much of the surrounding stock, suggesting competitive positioning versus older assets and potential value-add through targeted renovations and system upgrades.
Affordability dynamics are supportive: rents are moderate relative to local incomes, while ownership remains comparatively expensive, reinforcing reliance on rentals and aiding retention. The property’s compact average unit size (around 327 sf) can appeal to cost-conscious renters, though investors should align renovation scope and marketing to this unit profile. School quality scores are low at the neighborhood level, and safety trends are mixed, both of which warrant conservative underwriting and asset management focus.
- Solid neighborhood occupancy above the national midpoint supports income durability.
- Amenity-rich setting (groceries, pharmacies, parks, dining) helps leasing velocity and retention.
- 1977 vintage is newer than area norms, with value-add potential via targeted upgrades.
- Ownership costs are relatively high, sustaining renter reliance and pricing power for rentals.
- Risks: low school ratings and mixed safety trends call for conservative underwriting and active management.