Fourplex with Two Vacant Updated
For Sale
$600,000
1304 Flower Street, Bakersfield, CA 93305
MULTI_FAMILY - Bakersfield, CA
Property Size3,432 SF
Lot Size0.17 Acres
Price / SF$174.83
Days on Market123
Property Features for 1304 Flower Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-3
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bathroom 3, Bedroom 1, Bedroom 4, Bedroom 6, Bedroom 2, Bathroom 4, Bedroom 5, Bedroom 7, Bedroom 8, Bedroom 3, Bathroom 2
Directions
Airport Dr,left onto Olive Dr,Follow N Chester Ave south,Turn left (East) onto Flower Street.
Subdivision
96 - Out of Area North
Standard status
Active
APN
127-100-14
Size
3,432 SF
Lot size
0.17 Acres
Utilities
Heating system
Ductless (Heating)
Cooling system
Ductless
Building Details
Year built
1984
Number of units
4
Building materials
Stucco, Wood Siding
Roof type
Composition
Listing Agency:
BLVD Estate Properties
(818) 477-6464
Listed By:
Claudia Molina · License #01911267
(818) 590-4173
Added: May 1
Changed: Aug 4
Last Checked: Aug 31 at 9:06AM
MLS# 26003543
Copyright © 2026 Greater Antelope Valley Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
1304 Flower Street is a well-maintained fourplex with four 2-bedroom, 1-bath units. Two of the units are vacant and updated, described as move-in ready for quick tenant placement, while the remaining units are in place to support rental operations. This layout can work well for an owner-occupant seeking to live in one unit and rent the others, or for an investor looking for straightforward income from a four-unit structure.
The property is located in Bakersfield, CA 93305 on a 0.17-acre lot with 3,432 square feet of building area. It is zoned R-3 and was built in 1984. Exterior materials include stucco and wood siding, and the roof is a composition roof.
Heating and cooling are ductless. The offering is described as being sold together with the neighboring 1300 Flower Street fourplex, which features two vacant updated units and two occupied units, creating a side-by-side 8-unit investment opportunity.
The property is located in Bakersfield, CA 93305 on a 0.17-acre lot with 3,432 square feet of building area. It is zoned R-3 and was built in 1984. Exterior materials include stucco and wood siding, and the roof is a composition roof.
Heating and cooling are ductless. The offering is described as being sold together with the neighboring 1300 Flower Street fourplex, which features two vacant updated units and two occupied units, creating a side-by-side 8-unit investment opportunity.
Key Highlights
- Fourplex with four 2‑bedroom, 1‑bath units
- Two vacant updated units described as move‑in ready
- Zoned R‑3; 0.17‑acre lot; 3,432 sq ft
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$44,476
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.41%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$889,520
$889.5K
Cap Rate 7%
$635,371
$635.4K
Cap Rate 9%
$494,178
$494.2K
Market Conditions
NOI Build-Up for 3,432 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$68.0K $19.80/SF
− Vacancy
−$4.4K −$1.29/SF
EGI
$63.5K $18.51/SF
− OpEx
−$19.1K −$5.55/SF
NOI
$44.5K $12.96/SF
Area
Bakersfield, CA
Vacancy
6.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$889,520
Cap Rate 7%
$635,371
Cap Rate 9%
$494,178
Alternative Uses
Best Use
Multifamily LT 5
$635.4K
$556.0K – $741.3K
NOI $44,476 @ 7.0% cap · market cap 7.41%
Second Best
Apartment 5plus
$590.1K
$516.3K – $688.5K
NOI $41,307 @ 7.0% cap · market cap 6.88%
Theoretical Best
Office A
$910.8K
$796.9K – $1.06M
NOI $63,753 @ 7.0% cap · market cap 10.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
991
Businesses Nearby
Explore this area
Business Placement
Demographics for 93305, CA
38,392
Population
11,824
Households
3.2
Avg Household Size
29
Median Age
9%
College-Educated
64%
High-School Grad
5.8 sq mi
ZIP Area
6,619
Density / Sq Mi
$41,290
Median Household Income
$27,936
Median Earnings
$1,065
Median Rent
$245,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained fourplex in R-3 zoning with updated 2-bed, 1-bath units and two move-in ready vacancies.
Where is this quadplex located?
The property is located at 1304 Flower Street Bakersfield, CA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Fourplex with four 2‑bedroom, 1‑bath units; Two vacant updated units described as move‑in ready; Zoned R‑3; 0.17‑acre lot; 3,432 sq ft
