| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Good |
| Demographics | 51st | Good |
| Amenities | 45th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 800 S Norma St, Ridgecrest, CA, 93555, US |
| Region / Metro | Ridgecrest |
| Year of Construction | 1990 |
| Units | 66 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
800 S Norma St Ridgecrest Multifamily Investment
This 66-unit property built in 1990 sits in a neighborhood with 100% occupancy, the highest among 247 metro neighborhoods according to WDSuite's CRE market data.
The property sits in Ridgecrest's Inner Suburb neighborhood, which ranks 31st among 247 metro neighborhoods with an A rating. The neighborhood demonstrates strong occupancy fundamentals with 100% occupancy rate, ranking 1st among all metro neighborhoods and placing in the 100th national percentile. With 50.8% of housing units renter-occupied, the area provides a solid rental demand base for multifamily properties.
Demographics within a 3-mile radius show stable household fundamentals with median household income of $86,329 and projected growth to $99,936 by 2028. The area's median rent of $1,175 reflects moderate affordability pressures with forecasted increases to $1,833, suggesting potential pricing power for well-positioned properties. The neighborhood's childcare density ranks 33rd among metro areas at 73rd national percentile, supporting family-oriented tenant retention.
Built in 1990, this property aligns with the neighborhood's average construction year of 1966, positioning it as newer stock that may require less immediate capital expenditure compared to older neighborhood inventory. The area's amenity infrastructure includes moderate restaurant density and pharmacy access, though limited recreational amenities may impact tenant attraction compared to more amenity-rich submarkets.
The neighborhood's crime metrics show mixed performance relative to the Bakersfield metro area. Property crime rates rank 205th among 247 metro neighborhoods, placing in the 20th national percentile, indicating higher property crime levels compared to most neighborhoods nationwide. However, the area has experienced a significant 58.3% decrease in property crime over the past year, ranking 15th for crime reduction and placing in the 91st national percentile for improvement trends.
Violent crime rates present a similar pattern, with current levels ranking 202nd among metro neighborhoods at the 28th national percentile. The modest 0.8% decrease in violent crime over the past year ranks 88th metro-wide. Investors should consider these safety metrics when evaluating tenant retention strategies and insurance considerations, while noting the positive trend in property crime reduction that may support neighborhood stability over time.
The Ridgecrest area's employment base is anchored by defense and government operations that provide workforce housing demand, though specific major employers with precise distances are not available in current market data.
This 66-unit property offers exposure to Ridgecrest's exceptionally tight rental market, with neighborhood-level occupancy at 100% ranking first among 247 metro neighborhoods. The 1990 construction year positions the asset as newer stock within a neighborhood averaging 1966 vintage, potentially reducing near-term capital expenditure needs while maintaining competitive positioning. Demographics within a 3-mile radius support rental demand stability, with household income growth projected from $86,329 to $99,936 by 2028.
According to multifamily property research from WDSuite, the area's rental fundamentals show projected rent growth from $1,175 to $1,833, suggesting pricing power opportunities for well-managed properties. The 50.8% renter-occupied housing share provides a substantial tenant base, while the Inner Suburb designation offers suburban appeal with moderate amenity access. However, investors should monitor the area's higher property crime levels and limited recreational amenities that may impact tenant attraction compared to more amenity-dense markets.
- Exceptional occupancy fundamentals with 100% neighborhood occupancy ranking first metro-wide
- 1990 construction year offers newer vintage positioning within older neighborhood stock
- Projected household income growth and rent increases suggest pricing power potential
- Strong rental tenure base with over 50% of housing units renter-occupied
- Risk consideration: Higher property crime levels require attention to security measures and tenant retention strategies