| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Good |
| Demographics | 45th | Good |
| Amenities | 18th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 630 Cherry Ln, Tehachapi, CA, 93561, US |
| Region / Metro | Tehachapi |
| Year of Construction | 1987 |
| Units | 56 |
| Transaction Date | 2002-08-22 |
| Transaction Price | $1,320,000 |
| Buyer | CHERRY MOUNTAIN LP |
| Seller | TCPSB LTD |
630 Cherry Ln Tehachapi 56-Unit Multifamily Investment
Neighborhood fundamentals point to steady renter demand supported by growing households within a 3-mile radius, according to WDSuite’s CRE market data. Occupancy across the neighborhood sits below the metro median but trends and income growth suggest a stable leasing base for well-positioned assets.
Tehachapi’s suburban setting offers a quiet living environment with practical access to daily needs. Grocery availability is competitive among Bakersfield neighborhoods (ranked 106 out of 247), while cafes, parks, and pharmacies are thinner locally, implying residents rely on a broader trade area for some amenities. For investors, that mix supports workforce-oriented demand rather than amenity-driven premiums.
Neighborhood housing dynamics are balanced relative to national trends. The local occupancy rate for the neighborhood is below the metro median (ranked 174 out of 247), which points to a more price-sensitive leasing environment and the need for disciplined marketing and renewals. Median contract rents in the area sit around the upper half nationally, and a rent-to-income ratio measured for the neighborhood near 0.18 suggests manageable affordability pressure, supporting lease retention.
Within a 3-mile radius, demographics show population growth in recent years and projections for continued increases in both population and households through 2028, indicating a larger tenant base over time. Renter concentration is about one-third of housing units, which is meaningful depth for multifamily demand and should help sustain occupancy for well-managed assets.
Home values in the neighborhood trend in the upper range nationally (around the 74th percentile), and the value-to-income ratio is comparatively elevated. In investor terms, this is a high-cost ownership market relative to incomes, which can reinforce reliance on rental housing and support pricing power for competitive units. Public school ratings average on the lower side compared with national peers, which may temper family-driven premiums but aligns with workforce housing positioning.
Vintage context matters: the neighborhood’s average construction year is 1974, while the subject property was built in 1987. Being newer than the local average can improve competitive positioning versus older stock; however, systems are still at an age where targeted capital planning and modernization can unlock value-add upside and improve operating efficiency.
Safety metrics indicate a mixed but improving picture. The neighborhood’s crime rank sits in the less favorable half of the Bakersfield metro (ranked 75 out of 247, where lower ranks signal more crime), yet it compares slightly better than the national average overall (around the 55th percentile nationally). Recent year-over-year trends show estimated property and violent offense rates declining, which supports a gradually improving operating backdrop for owners.
Regional employment is anchored by aerospace and environmental services accessible by highway commutes, which can support renter demand and lease stability for workforce households. Notable employers include Lockheed Martin Aeronautics and Waste Management’s Palmdale operations.
- Lockheed Martin Aeronautics Co. — aerospace (40.2 miles)
- Waste Management - Palmdale — environmental services (41.9 miles)
This 56-unit asset, built in 1987, is newer than the neighborhood’s 1970s-era average, offering relative competitiveness versus older stock while presenting room for value-add through targeted renovations and systems upgrades. Neighborhood occupancy runs below the metro median, but rent levels and a measured rent-to-income profile indicate manageable affordability pressure that can support retention with disciplined operations. According to CRE market data from WDSuite, home values trend high relative to incomes locally, which tends to sustain renter reliance on multifamily housing.
Within a 3-mile radius, recent population gains and forecasts for continued household growth point to a larger tenant base over the medium term. Renter-occupied share is about one-third of units, providing meaningful depth for leasing, while amenity access skews practical rather than premium—consistent with workforce housing strategies. Execution should emphasize unit modernization, operational efficiency, and competitive pricing to capture demand and stabilize occupancy.
- 1987 vintage offers competitive positioning vs. older local stock with clear value-add scope
- Household and population growth within 3 miles expands the tenant base and supports occupancy
- High-cost ownership context reinforces renter demand and pricing power for well-finished units
- Workforce-oriented amenity mix aligns with stable, needs-based demand
- Risk: Neighborhood occupancy below metro median requires active leasing and renewal management