Four-Unit Apartment
For Sale
$599,000
1308 Flower Street, Bakersfield, CA 93305
MULTI_FAMILY - Bakersfield, CA
Property Size3,432 SF
Lot Size0.17 Acres
Price / SF$174.53
Days on Market65
Property Features for 1308 Flower Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-3
Bedrooms
2
Rooms
Bedroom 2, Bedroom 1
Directions
From the 178 Freeway, exit on Haley Street and head South to Flower Street. Right on Flower street, property is on right hand side of street just past the market. 3rd building from gated entrance.
Subdivision
17 - Kern Co/Mojave/Cal C
Standard status
Active
APN
127-100-15
Size
3,432 SF
Lot size
0.17 Acres
Utilities
Cooling system
Central Air
Amenities
washer/dryer hookups
Building Details
Year built
1984
Number of units
4
Building materials
Stucco, Wood Siding, Shingle Siding
Listing Agency:
Luxury Collective
(424) 395-4841
Listed By:
Josefina Sarabia · License #02182128
(818) 233-5211
Added: Jun 11
Changed: Aug 4
Last Checked: Aug 14 at 7:06AM
MLS# 26004682
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.
This four-unit apartment building offers a straightforward income layout with four spacious two-bedroom, one-bath units. The property is described as well-maintained and includes functional floor plans designed for day-to-day livability. Washer/dryer hookups are available, and each unit is supported by on-site parking for tenant convenience.
Located at 1308 Flower Street in Bakersfield, the property sits on approximately 0.17 acres and is positioned to serve household needs within the surrounding area. The listing notes convenient access to schools, shopping, dining, medical facilities, and major commuter routes, which can simplify tenant routines and day-to-day logistics.
For buyers seeking a multi-family asset, this building provides a compact fourplex configuration with consistent unit mix across all residences. With multiple units under one roof, it can be an efficient setup for owner-operators or investors looking to manage an income-producing property. The combination of washer/dryer hookups, parking on-site, and repeatable unit layouts may appeal to tenants who value practical in-home convenience and reliable day-to-day access.
Located at 1308 Flower Street in Bakersfield, the property sits on approximately 0.17 acres and is positioned to serve household needs within the surrounding area. The listing notes convenient access to schools, shopping, dining, medical facilities, and major commuter routes, which can simplify tenant routines and day-to-day logistics.
For buyers seeking a multi-family asset, this building provides a compact fourplex configuration with consistent unit mix across all residences. With multiple units under one roof, it can be an efficient setup for owner-operators or investors looking to manage an income-producing property. The combination of washer/dryer hookups, parking on-site, and repeatable unit layouts may appeal to tenants who value practical in-home convenience and reliable day-to-day access.
Key Highlights
- Four‑unit apartment building with four 2‑bedroom, 1‑bath units
- Approximately 3,442 SF of living space
- Central air conditioning
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
7.43%
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 7.43%
Second Best
Apartment 5plus
$590.1K
$516.3K – $688.5K
NOI $41,307 @ 7.0% cap · market cap 6.90%
Theoretical Best
Office A
$910.8K
$796.9K – $1.06M
NOI $63,753 @ 7.0% cap · market cap 10.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
640
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 - Four 2-bedroom, 1-bath units with washer/dryer hookups and on-site parking in a residential R-3 setting.
Where is this quadplex located?
The property is located at 1308 Flower Street Bakersfield, CA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Four‑unit apartment building with four 2‑bedroom, 1‑bath units; Approximately 3,442 SF of living space; Central air conditioning
