| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Poor |
| Demographics | 9th | Poor |
| Amenities | 41st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 830 Almond Ct, Wasco, CA, 93280, US |
| Region / Metro | Wasco |
| Year of Construction | 2007 |
| Units | 81 |
| Transaction Date | 2025-06-17 |
| Transaction Price | $3,300,000 |
| Buyer | POSO PLACE SENIOR APARTMENTS LP |
| Seller | F & POSO STREET INVESTORS |
830 Almond Ct Wasco Multifamily Investment Opportunity
Stabilizing renter demand in the Wasco submarket supports an 81-unit, 2007-vintage asset, according to WDSuite’s CRE market data. Neighborhood occupancy is solid and local ownership costs help sustain reliance on multifamily housing.
Located in Kern County within the Bakersfield, CA metro, the property benefits from neighborhood fundamentals that favor steady leasing. The area’s average construction year skews older (1950s), while this asset’s 2007 vintage is comparatively newer, which can enhance competitive positioning and reduce near-term capital planning needs, while still allowing for selective modernization over time.
Daily needs are supported by a strong concentration of food and grocery options. Restaurant and grocery density ranks in the top quartile among 247 Bakersfield neighborhoods and scores well nationally, while parks and pharmacies are limited nearby. Investors should expect convenience for everyday goods and dining, with fewer recreational and healthcare retail amenities in close proximity.
Neighborhood occupancy is about 90%, up over the past five years, which aligns with resilient leasing conditions. Approximately four in ten housing units are renter-occupied in the neighborhood, indicating a meaningful tenant base without overreliance on renters; this balance can aid demand stability for multifamily operators.
Within a 3-mile radius, population and household counts have grown in recent years, with households expanding faster than population — a setup that generally supports a larger tenant base and occupancy stability. Forward-looking projections within the same 3-mile radius indicate continued population growth and a sizable increase in households, suggesting more renters entering the market over time. Home values are relatively high versus local incomes (above the national median on value-to-income metrics), which tends to reinforce rental demand and can support pricing power and lease retention. Based on CRE market data from WDSuite, contract rents remain manageable relative to incomes, indicating moderate affordability pressure that can help sustain renewals.
Safety indicators compare favorably at the national level, with the neighborhood landing in the top quartile of U.S. neighborhoods on recent estimates for lower violent and property offense exposure. Recent data also points to a sharp year-over-year decline in estimated offense rates, signaling improving conditions.
As always, investors should evaluate property-specific security measures and recent local trends alongside neighborhood-level statistics when underwriting operating expenses and retention assumptions.
830 Almond Ct offers 81 units built in 2007, providing scale and a newer vintage relative to much of the surrounding stock. Neighborhood occupancy has improved in recent years, and a balanced share of renter-occupied housing suggests a stable, diversified tenant pool. Within a 3-mile radius, population growth and a faster rise in households point to renter pool expansion that can support leasing and retention. According to CRE market data from WDSuite, ownership costs are elevated relative to incomes locally, which tends to sustain reliance on multifamily housing while rent-to-income levels remain manageable for lease management.
Taken together, the submarket’s everyday amenities, stable occupancy, and demographic tailwinds support a durable income thesis, while the 2007 vintage allows for targeted value-add or systems modernization to sharpen competitiveness against older comparables.
- 2007 vintage versus older neighborhood stock supports competitive positioning with moderate near-term capex needs.
- Neighborhood occupancy around 90% and improving underpins leasing stability.
- 3-mile population and household growth expands the tenant base and supports retention.
- Elevated ownership costs versus incomes reinforce sustained renter demand and pricing power.
- Risks: limited nearby parks/pharmacies and lower school ratings may affect family-driven demand; maintain conservative underwriting for amenities and resident profile.