| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Good |
| Demographics | 13th | Poor |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1840 Poplar Ave, Wasco, CA, 93280, US |
| Region / Metro | Wasco |
| Year of Construction | 1995 |
| Units | 36 |
| Transaction Date | 2011-12-17 |
| Transaction Price | $78,500 |
| Buyer | KC INVESTMENT GROUP |
| Seller | WASCO INVESTMENT GROUP |
1840 Poplar Ave, Wasco CA Multifamily Investment
Stabilized renter demand in the immediate neighborhood, with full occupancy reported at the neighborhood level, supports consistent income potential, according to WDSuite’s CRE market data. The street-level setting skews workforce-oriented, offering an attainable rent profile that can aid retention through cycles.
The property sits in an Urban Core pocket of Wasco where neighborhood occupancy is reported at 100% (a neighborhood metric, not the property), placing the area in the top tier nationally for filled units and indicating resilience through turnover. Renter-occupied housing makes up roughly half of units in the neighborhood, deepening the tenant base for multifamily owners and supporting lease-up and renewal activity.
Vintage skews newer than the local average: this asset was built in 1995 versus an average neighborhood construction year of 1976. For investors, the relative youth compared with older stock supports competitive positioning on unit finishes and systems, while still calling for prudent capital planning for modernization as the building approaches three decades in service.
Livability factors are mixed. Retail and service density is limited nearby, so residents often rely on driving to access daily needs. School ratings in the broader neighborhood trend below metro norms; for family-oriented unit mixes, that may influence marketing and leasing strategy. On the other hand, the neighborhood’s housing indicators are competitive among Bakersfield neighborhoods, and median contract rents in the area sit at levels that help manage rent-to-income ratios, which can support renewal rates.
Within a 3-mile radius, demographics show recent population growth alongside a notable increase in household counts, pointing to a larger tenant base over time. Looking ahead, forecasts call for additional population and household growth in the same 3-mile radius, which can support occupancy stability and measured rent growth for well-managed assets, based on CRE market data from WDSuite.
Neighborhood safety trends compare favorably at the national level, with the area scoring in the higher percentiles for safety versus neighborhoods nationwide. Recent WDSuite data also indicates sharp year-over-year declines in both property and violent offense rates at the neighborhood scale, reinforcing a constructive trendline for investor underwriting. As always, safety can vary block to block, so investors should pair these broader reads with site-level diligence and management practices.
This 1995-vintage, 36-unit asset in Wasco is positioned as workforce housing with neighborhood-level occupancy at 100% (neighborhood metric), signaling durable demand and underpinning cash flow stability. Compared with older local stock, the vintage provides a relative competitive edge while still warranting targeted CapEx for modernization and value-add. Within a 3-mile radius, recent and forecast increases in population and households expand the renter pool, supporting leasing velocity and renewals. According to CRE market data from WDSuite, the area’s rent-to-income levels remain manageable, which can aid retention while allowing disciplined pricing.
Key considerations include limited nearby retail and service density and below-metro school ratings that may influence marketing for family-oriented units. Ownership costs in the broader area are more accessible than coastal California, which may create some competition with entry-level ownership; however, this typically sustains steady multifamily demand for well-managed, appropriately priced properties.
- Neighborhood-level occupancy at full levels supports cash flow stability
- 1995 construction offers relative competitiveness with clear value-add/CapEx pathways
- Growing 3-mile population and households expand the tenant base and support leasing
- Manageable rent-to-income dynamics aid retention and disciplined rent setting
- Risks: limited amenity density and lower school ratings; potential competition from entry-level ownership