| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Fair |
| Demographics | 34th | Good |
| Amenities | 68th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 108 Center St, Taft, CA, 93268, US |
| Region / Metro | Taft |
| Year of Construction | 1978 |
| Units | 24 |
| Transaction Date | 2012-09-12 |
| Transaction Price | $650,000 |
| Buyer | ATA PROPERTIES LLC |
| Seller | MICMA PROPERTIES LLC |
108 Center St Taft 24-Unit Value-Add Multifamily
Neighborhood occupancy is in the mid-90% range and renter demand is supported by a roughly half renter-occupied housing base in the surrounding area, according to WDSuite s CRE market data. This points to steady leasing fundamentals for a 1978-vintage asset positioned for operational upgrades.
The property sits in an Inner Suburb pocket of the Bakersfield, CA metro with an A neighborhood rating and a rank of 34 out of 247 metro neighborhoods, placing it in the top quartile locally. Amenity access is a relative strength: restaurant and grocery densities track in the top quartile nationally, while cafes and childcare are above average; park access is limited.
For investors monitoring rents and occupancy, neighborhood occupancy trends are above the national median and have edged higher over the past five years, suggesting stable demand. Median contract rents in the area remain below many coastal California submarkets, which can help sustain tenant retention and support lease-up consistency.
Vintage matters here: with the neighborhood 27s average construction year around 1950, a 1978 property is newer than much of the local stock. That positioning can be competitive against older comparables, though investors should still plan for modernization of building systems and common areas as part of a value-add program.
Tenure patterns are favorable for multifamily demand. Within a 3-mile radius, the share of renter-occupied housing units is roughly half, indicating a deep tenant base for smaller-format units. Home values sit in a higher national percentile relative to local incomes, an ownership landscape that can reinforce reliance on rental housing and support pricing power without overextending rent-to-income ratios.
Demographic data aggregated within a 3-mile radius show modest population contraction over the last five years, while household counts have been roughly flat and are projected to increase. This mix points to demographic shifts that can expand the renter pool even as population trends soften, which may help support occupancy stability and steady absorption for workforce-oriented units.
Safety indicators compare favorably at the national level: violent and property offense measures score in the top quartile nationally, with overall crime metrics above the national median. Within the Bakersfield metro, patterns can vary by corridor; investors typically underwrite to property-level security, lighting, and access controls to support tenant retention.
This 24-unit, 1978-vintage asset offers value-add potential in a neighborhood that ranks in the top quartile among 247 Bakersfield metro neighborhoods. Occupancy in the surrounding area is strong and trending stable, and the local renter base is sizable, supporting day-to-day leasing and renewal prospects. According to CRE market data from WDSuite, amenity access is a relative advantage (notably dining and grocery density), while limited park access and lower school ratings warrant targeted positioning toward workforce renters.
With home values elevated relative to incomes and rent-to-income ratios near manageable levels, the submarket backdrop can support rent collections and retention without overreaching on affordability. The property 27s later vintage versus much of the area 27s mid-century stock provides competitive footing; a focused renovation plan can address aging systems and common areas to enhance NOI.
- Stable neighborhood occupancy and deep renter base support leasing continuity.
- 1978 vintage is newer than much of the local stock, enabling targeted value-add.
- Strong dining and grocery access enhances day-to-day livability for tenants.
- Risk: limited park access and lower school ratings may narrow appeal to certain households; underwrite positioning and amenities accordingly.