| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Good |
| Demographics | 13th | Poor |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1500 Poplar Ave, Wasco, CA, 93280, US |
| Region / Metro | Wasco |
| Year of Construction | 1999 |
| Units | 40 |
| Transaction Date | 1999-03-11 |
| Transaction Price | $312,000 |
| Buyer | VILLA HERMOSA PARTNERS |
| Seller | SELF HELP ENTERPRISES |
1500 Poplar Ave Wasco Multifamily Investment
Neighborhood fundamentals point to durable renter demand and high occupancy, according to WDSuite’s CRE market data, with a 1999 vintage offering competitive positioning versus older local stock.
The property sits in Wasco within the Bakersfield, CA metro, where neighborhood-level occupancy trends are extremely tight relative to peers, supporting leasing stability. The submarket s housing stock skews older than this asset, and a 1999 construction date positions the property as comparatively newer, which can aid competitiveness versus 1970s-era buildings while still warranting routine system updates over a hold.
Within a 3-mile radius, population and household counts have expanded in recent years, with forecasts calling for continued growth and a larger tenant base over the next five years. Renter-occupied housing shares in the immediate area and neighborhood indicate a meaningful renter pool, which can underpin occupancy and renewal performance for well-managed assets.
Local amenity density is limited (few cafés, groceries, restaurants, parks, and pharmacies within the neighborhood footprint), so residents may rely more on auto access and on-site conveniences. For family-oriented renters, average school ratings in the area trend on the lower side versus broader benchmarks, which is a consideration for positioning and tenant mix.
Home values are modest compared with many California markets, suggesting that ownership can be more accessible than in coastal metros; for investors, this can mean some competition from entry-level ownership while still supporting demand for larger rental units and value-forward offerings. Neighborhood housing indicators are above several national benchmarks, and rent-to-income ratios point to manageable affordability pressure, which can support retention when paired with prudent lease management.
Safety indicators show a mixed profile that investors should contextualize. Within the Bakersfield metro, the neighborhood s crime rank is near the bottom (2 of 247 neighborhoods), signaling higher reported incidents than many local peers. At the same time, national comparisons place the area in a strong percentile band, indicating a comparatively favorable standing versus neighborhoods nationwide.
Recent trend data also point to notable year-over-year declines in both property and violent offense estimates, which, if sustained, can help risk management and tenant retention. As always, investors should underwrite with conservative assumptions and verify current conditions through local diligence and time-of-day site visits.
This 40-unit asset was built in 1999, making it newer than much of the surrounding housing stock. That relative vintage supports competitive positioning versus older properties, with potential to benefit from targeted modernization rather than heavy capital replacement. Tight neighborhood occupancy and a sizable renter base suggest stable demand, while larger unit formats can appeal to households seeking space. According to CRE market data from WDSuite, the immediate area s livability is driven more by residential fundamentals than amenity density, so on-site features and professional management are important levers for retention.
Within a 3-mile radius, recent population and household growth, along with forecasts for further expansion, point to a growing tenant pool that can support occupancy stability. Modest local home values relative to many California markets imply some competition from ownership; however, measured rent-to-income dynamics can help sustain renewals where operators focus on value and service quality. Investors should balance these strengths against lower school ratings, limited neighborhood amenities, and locally elevated incident rankings when setting rent growth and capex plans.
- 1999 vintage is competitive versus older neighborhood stock, with targeted updates likely to drive positioning
- Very tight neighborhood occupancy supports leasing stability and renewal potential
- 3-mile population and household growth expands the renter pool, supporting demand
- Modest ownership costs locally can coexist with steady rental demand for larger, well-managed units
- Risks: limited amenity density, lower school ratings, and locally elevated incident rankings warrant conservative underwriting