| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Poor |
| Demographics | 9th | Poor |
| Amenities | 41st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 830 16th St, Wasco, CA, 93280, US |
| Region / Metro | Wasco |
| Year of Construction | 1980 |
| Units | 64 |
| Transaction Date | 2011-12-17 |
| Transaction Price | $877,000 |
| Buyer | KC INVESTMENT GROUP |
| Seller | POSO MANOR |
830 16th St Wasco Multifamily Investment Opportunity
This 64-unit property built in 1980 operates in a neighborhood with 90.2% occupancy rates and strong renter concentration at 39.1% of housing units, according to WDSuite's CRE market data.
The Wasco neighborhood demonstrates solid rental demand fundamentals with 39.1% of housing units being renter-occupied, ranking in the top quartile nationally among neighborhoods. This renter concentration supports stable tenant demand for multifamily properties. Neighborhood-level occupancy rates of 90.2% indicate consistent absorption, though this trails the metro median among Bakersfield's 247 neighborhoods.
Built in 1980, the property is significantly newer than the neighborhood's average construction year of 1953, positioning it competitively within the local housing stock. This vintage advantage may support reduced near-term capital expenditure needs compared to the area's older building inventory. Median contract rents in the neighborhood average $774, with modest 5-year growth of 40.8%, reflecting steady but measured rent progression.
Demographics within a 3-mile radius show population growth of 8.4% over five years, with household formation increasing 13.9% during the same period. This expansion in the renter pool supports multifamily demand fundamentals. Home values averaging $225,695 with a value-to-income ratio of 5.0 suggest that elevated ownership costs may sustain rental demand, as homeownership remains less accessible for many households. The rent-to-income ratio of 0.21 indicates relatively manageable affordability conditions for tenants.
The neighborhood offers practical amenities including 2.23 grocery stores per square mile and 4.90 restaurants per square mile, both ranking above metro averages. However, childcare and park amenities are limited, which may influence tenant demographics and retention patterns. School ratings average 1.0 out of 5, representing a potential consideration for family-oriented tenant attraction.
Safety metrics present a notably positive picture for this Wasco neighborhood. The area ranks 1st among 247 metro neighborhoods for both violent and property crime rates, placing it in the 93rd and 91st national percentiles respectively. This top-tier safety profile represents a significant tenant attraction and retention advantage.
Recent crime trends show substantial improvement, with property offense rates declining 98.5% year-over-year and violent offense rates dropping 97.0%. While these dramatic reductions may reflect data reporting changes or specific local factors, the underlying safety ranking remains consistently strong relative to both metro and national comparisons.
Employment data for specific anchor employers near this Wasco location is not currently available in our database.
This 64-unit Wasco property offers value-oriented multifamily exposure in a market with established rental demand dynamics. The neighborhood's 39.1% renter-occupied housing concentration ranks in the top quartile nationally, indicating a substantial tenant base. Strong safety rankings—1st among 247 metro neighborhoods for both violent and property crime—provide a compelling tenant attraction advantage that supports occupancy stability and lease retention.
The 1980 construction year positions the asset favorably against the neighborhood's 1953 average vintage, potentially reducing near-term capital expenditure requirements. Demographics within a 3-mile radius show positive momentum with 8.4% population growth and 13.9% household formation over five years, expanding the local renter pool. Home values at $225,695 with a 5.0 value-to-income ratio suggest ownership costs that sustain rental demand, while the 0.21 rent-to-income ratio indicates manageable affordability for tenants.
- Top-tier safety profile ranks 1st among 247 metro neighborhoods for violent and property crime
- Strong renter concentration at 39.1% of housing units supports stable tenant demand
- 1980 vintage provides competitive positioning against neighborhood's 1953 average construction year
- Growing demographics with 13.9% household formation increase over five years
- Limited childcare and park amenities may constrain appeal to family-oriented tenants