| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Good |
| Demographics | 45th | Good |
| Amenities | 18th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 855 S Curry St, Tehachapi, CA, 93561, US |
| Region / Metro | Tehachapi |
| Year of Construction | 1987 |
| Units | 64 |
| Transaction Date | 2018-05-31 |
| Transaction Price | $6,250,000 |
| Buyer | TEHACHAPI INVESTMENTS LLC |
| Seller | RUBIN BEVERLY |
855 S Curry St Tehachapi Multifamily Investment
This 64-unit property benefits from moderate rental demand and favorable rent-to-income ratios, with neighborhood occupancy tracking close to 90% according to CRE market data from WDSuite.
The Tehachapi neighborhood presents a suburban rental market with moderate fundamentals for multifamily investors. With a median household income of $85,532 within a 3-mile radius, the area maintains rent-to-income ratios that rank in the lower third nationally, suggesting manageable affordability pressures for tenants. Neighborhood-level occupancy sits at 89.6%, though this trails the metro median, indicating some absorption challenges that warrant attention in lease management strategies.
Built in 1987, this property aligns with the neighborhood's average construction year of 1974, positioning it among the newer stock in the area. The vintage suggests moderate capital expenditure needs while potentially offering value-add opportunities through targeted renovations. The area's housing stock shows 20.9% of units are renter-occupied, reflecting a market where ownership remains the dominant tenure but rental demand persists among approximately one-fifth of households.
Demographics within the 3-mile radius show steady fundamentals with 14,645 residents and projected growth to 15,745 by 2028. The forecast anticipates household count increases from 5,571 to 8,495 units, suggesting expansion in the potential tenant base. Median household income is projected to rise from $73,649 to $116,465, which could support rent growth while maintaining affordability ratios. However, the area's limited amenity density—ranking in the bottom quartile nationally for cafes, childcare, and parks—may impact tenant appeal and retention strategies.
Safety metrics for the neighborhood show mixed performance relative to the broader Bakersfield metro area. Property crime rates rank 160th among 247 metro neighborhoods, placing the area above the regional median, while violent crime rates rank 146th, indicating moderate safety conditions. Notably, both property and violent crime rates have declined over the past year, with property offenses down 25.9% and violent crimes decreasing 15.5%, suggesting improving safety trends that may support tenant retention and leasing velocity.
The Tehachapi area's employment base includes aerospace and defense operations, though major employers require longer commutes to the Antelope Valley region.
- Lockheed Martin Aeronautics Co. — defense & aerospace (40.2 miles)
- Waste Management - Palmdale — waste services (42.0 miles)
This 64-unit Tehachapi property offers exposure to a suburban rental market with stable demographic fundamentals and improving safety trends. The 1987 construction year positions the asset among newer neighborhood stock, potentially supporting competitive positioning while offering value-add renovation opportunities. Household growth projections through 2028 suggest expanding tenant demand, while current rent-to-income ratios provide manageable affordability for residents.
However, investors should monitor the neighborhood's below-median occupancy performance and limited amenity infrastructure, which may impact tenant attraction and retention strategies. The distance to major employment centers requires consideration of commute patterns and their effect on rental demand sustainability.
- Projected household growth supports expanding tenant base through 2028
- 1987 vintage offers value-add potential with moderate capital needs
- Declining crime rates may support improved tenant retention
- Risk: Below-median neighborhood occupancy requires active lease management