| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Fair |
| Demographics | 40th | Good |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 430 N Mill St, Tehachapi, CA, 93561, US |
| Region / Metro | Tehachapi |
| Year of Construction | 1987 |
| Units | 59 |
| Transaction Date | 2001-04-19 |
| Transaction Price | $1,887,500 |
| Buyer | RUBIN MEL |
| Seller | OSB LTD |
430 N Mill St Tehachapi Multifamily Investment
Neighborhood occupancy trends appear competitive among Bakersfield neighborhoods and supportive of income stability, based on CRE market data from WDSuite, suggesting steady renter demand for a 59-unit asset in Tehachapi.
Tehachapi’s inner-suburban setting offers day-to-day convenience that helps with leasing and retention. Restaurant and cafe access ranks competitive in the metro and roughly top quartile nationally, while parks and groceries are similarly strong, according to WDSuite’s CRE market data. Average school ratings are below the national midpoint, which may modestly temper family-driven demand, but the amenity mix still supports livability for workforce renters.
The neighborhood’s occupancy performance is competitive among the 247 Bakersfield neighborhoods and sits around the top quartile nationally, pointing to relatively steady cash-flow fundamentals. Median asking rents in the surrounding area remain accessible in context with incomes, which can aid lease renewal rates but may limit rapid pricing power compared with core coastal California locations.
Vintage matters for competitiveness: the property’s 1987 construction is newer than the neighborhood’s average vintage (1959). That positioning can reduce near-term obsolescence risk versus older local stock, while still leaving room for targeted modernization to drive rent premiums and operational efficiency.
Tenure patterns indicate depth for multifamily demand. Within the neighborhood, a majority of occupied housing units are renter-occupied, supporting a broad tenant base and potential leasing stability. By contrast, demographics aggregated within a 3-mile radius show a lower renter concentration, which can create a bifurcated demand profile where professionally managed communities capture renters seeking amenities and maintenance convenience.
Demographics within a 3-mile radius point to population growth and an increase in households over the last five years, with forecasts showing additional population and household gains. This signals a gradually expanding renter pool that should support occupancy and absorption, especially for well-maintained mid-1980s vintage assets.
On ownership dynamics, neighborhood home values are lower than many California metros, which can introduce some competition from entry-level ownership. For investors, this suggests careful revenue management: emphasizing value-add upgrades and service quality to sustain pricing and retention rather than relying solely on outsized rent growth.
Safety comparisons should be framed at the neighborhood level rather than the property. According to WDSuite’s CRE market data, the neighborhood rates below the national midpoint for safety, and below the metro average among the 247 Bakersfield neighborhoods. However, property crime has been trending lower on a year-over-year basis, which is a constructive sign for operating stability if the trend persists.
Investors typically emphasize visibility, lighting, and access control to align with resident expectations in submarkets with mixed safety signals. Monitoring ongoing trend data and coordinating with local resources can help sustain resident satisfaction and retention.
Regional employers within commuting range provide diversified job anchors that can support renter demand and retention, notably aerospace/defense and environmental services.
- Lockheed Martin Aeronautics Co. — aerospace & defense (41.0 miles)
- Waste Management - Palmdale — environmental services (42.8 miles)
This 59-unit, 1987-vintage community sits in a neighborhood with occupancy that is competitive among Bakersfield’s 247 neighborhoods and around the top quartile nationally, indicating a supportive backdrop for steady collections. Demographics aggregated within a 3-mile radius show population growth and a notable increase in households, expanding the local tenant base and helping sustain absorption. According to CRE market data from WDSuite, amenity access (parks, groceries, restaurants) is comparatively strong, which tends to aid lease retention for workforce renters.
The asset’s mid-1980s vintage is newer than much of the surrounding housing stock, offering a relative competitive edge versus older properties. At the same time, ownership costs in the area are more accessible than in many California markets, which can cap aggressive rent pushes; targeted value-add and service differentiation may be the better route to NOI gains. Safety indicators are below national averages but show recent improvement in property crime, suggesting operational measures and ongoing monitoring are prudent.
- Occupancy competitive in-metro and near top quartile nationally supports cash-flow stability
- 1987 construction offers relative competitiveness versus older neighborhood stock with upgrade potential
- 3-mile population and household growth expands the renter pool, aiding absorption and renewals
- Strong amenity access (parks, groceries, dining) supports livability and retention
- Risk: more accessible ownership options and mixed safety metrics may temper pricing power; focus on value-add and operations