| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Good |
| Demographics | 45th | Good |
| Amenities | 18th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 600 Cherry Ln, Tehachapi, CA, 93561, US |
| Region / Metro | Tehachapi |
| Year of Construction | 1990 |
| Units | 56 |
| Transaction Date | 2001-10-04 |
| Transaction Price | $1,596,000 |
| Buyer | TEHACHAPI INVESTMENTS LLC |
| Seller | RUBIN BEVERLY |
600 Cherry Ln, Tehachapi Multifamily Investment
Neighborhood metrics point to steady renter demand and an ownership market that favors leasing, according to WDSuite’s CRE market data. Focus is on occupancy stability and rent positioning within the Bakersfield metro rather than outsized growth.
The property sits in a suburban pocket of Tehachapi within the Bakersfield, CA metro, where neighborhood fundamentals are mid-pack overall (B rating) and renter demand is shaped by household growth within a 3-mile radius. Recent population and household increases are projected to continue through 2028, supporting a larger tenant base and aiding occupancy stability for multifamily assets in the area.
On pricing, neighborhood medians for contract rents rank in the top quartile among 247 Bakersfield neighborhoods and in the upper half nationally, indicating room to position units competitively while maintaining leasing traction. Neighborhood occupancy trends are in the high-80s range, so operators should emphasize retention and leasing execution to minimize downtime; these rates reflect the neighborhood, not the property.
Lifestyle access is modest but serviceable: grocery density sits above the metro median and restaurants are also above the metro median, while parks, pharmacies, cafes, and childcare are comparatively thin within the immediate neighborhood. Average school ratings trail national medians, which may influence unit mix and marketing. These amenity and school indicators are measured for the neighborhood, not the property.
Vintage matters for competitiveness: built in 1990, the asset is newer than the neighborhood’s average 1970s-era housing stock. This typically reduces near-term deferred maintenance relative to older comparables while still allowing targeted renovations or systems updates to support rent premiums where appropriate.
Tenure patterns suggest a stable, needs-based renter pool. Within a 3-mile radius, roughly one-third of housing units are renter-occupied, indicating a sufficient base of prospective tenants without overreliance on transient demand. Combined with population and household growth, this supports steady absorption and lease retention for well-managed properties.
Neighborhood safety indicators are competitive among Bakersfield neighborhoods (ranked in the stronger third of 247) and sit modestly above the national middle, based on WDSuite’s comparative metrics. Recent year-over-year trends show declines in both property and violent offense rates at the neighborhood level, which supports leasing stability and reduces potential disruption risk over time. These figures describe neighborhood conditions rather than property-specific security.
Regional employers provide diversified income bases and support demand for workforce housing tied to commute patterns. Notable anchors within the broader drive-shed include aerospace/defense and environmental services.
- Lockheed Martin Aeronautics Co. — defense & aerospace offices (40.2 miles)
- Waste Management - Palmdale — environmental services (42.0 miles)
This 56-unit, 1990-vintage asset offers a pragmatic play on steady renter demand in a suburban Bakersfield-metro neighborhood. Rents benchmark in the top quartile locally while home values are elevated for the area, which helps sustain reliance on multifamily. Population and household growth within a 3-mile radius point to a gradually expanding tenant base, supporting occupancy and lease-up consistency for well-priced product.
The property’s newer vintage versus the neighborhood’s 1970s average positions it competitively against older stock while leaving room for targeted upgrades. According to CRE market data from WDSuite, neighborhood occupancy runs below the metro’s leaders, so returns hinge on disciplined operations, underwriting for slightly softer absorption, and capturing premiums through practical renovations rather than aggressive rent lifts.
- 1990 construction is newer than much of the area’s stock, supporting competitive positioning and selective value-add.
- Neighborhood rents rank in the metro’s top quartile, enabling revenue optimization with thoughtful unit finishes and amenity strategy.
- 3-mile population and household growth expand the renter pool, aiding occupancy stability and retention.
- Elevated ownership costs locally reinforce multifamily demand, supporting pricing power for well-managed assets.
- Risk: neighborhood occupancy trails metro leaders; plan for disciplined leasing, tenant retention, and realistic rent growth.