Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1607 Palm Dr Bakersfield, CA 93305

    View on Map
    Sponsored
    For Sale
    $1,150,000

    MULTI_FAMILY - Bakersfield, CA

    Property size:
    5,917 SF
    Lot size:
    0.35 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 10 at 4:06 am

    Property Features for 1607 Palm Dr

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    APN
    13802109
    Parking features
    Covered, Garage
    Size
    5,917 SF
    Lot size
    0.35 Acres

    Building Details

    Year built
    1950
    Floors in Building
    2
    Number of units
    10

    We can help!

    Listing Contact
    Phil M Jordan

    Keller Williams Realty Bakersfield (661) 617-6500

    Listing agent Phil M Jordan

    Listing date Mar 9, 2026

    MLS# 202602500 Listing URL

    Copyright © 2026 Bakersfield 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.

    Learn more

    Property Insight Report

    Overview

    Updated Multifamily Building in Bakersfield

    This East Bakersfield property features ten units, including two 2-bedroom units and eight 1-bedroom units. The building is fully occupied and has been updated with modern dual-pane windows and updated exterior paint. The grounds are well-maintained. The 2-bedroom units rent in the $1291-1522 range, and the 1-bedroom units rent in the $744-1194 range. The property provides a quality living experience for its tenants, resulting in long-term residents. The building contains 5917 square feet and is situated on a 0.35-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bakersfield
    County
    Kern
    State
    California
    Longitude
    -118.969292
    Latitude
    35.380826

    Nearby Similar for Sale

    • $1,495,000
      2,782 SF

      Bakersfield Commercial Property on Rosedale

      1.12-acre C-2 commercial property with office and industrial features.
      9831 Rosedale Hwy, Bakersfield, CA 93312
      View Details
    • $295,000
      1,770 SF

      East Bakersfield Commercial Building For Sale

      Freestanding commercial building suitable for various uses in East Bakersfield.
      1915 Baker St, Bakersfield, CA 93305
      View Details
    • $799,000
      4,615 SF

      Bakersfield Commercial Property For Sale

      Commercial property with long-term tenants and freeway access in Bakersfield.
      309 E Brundage Ln, Bakersfield, CA 93307
      View Details
    • $289,000
      1,800 SF

      Bakersfield Office Medical Space

      Office medical space with reception and exam rooms.
      3535 San Dimas St, Bakersfield, CA 93301
      View Details
    • $850,000
      3,011 SF

      Bakersfield Automotive Garage Shop

      3,011 sq ft automotive garage on 18,295 sq ft lot.
      900 Flower St, Bakersfield, CA 93305
      View Details
    • $199,000
      7,150 SF

      Established Restaurant Opportunity in Bakersfield

      Restaurant in a high-traffic area, built in 2017.
      1901 20Th St, Bakersfield, CA 93301
      View Details
    • $650,000
      4,380 SF

      Bakersfield Commercial Venue with M-1 Zoning

      Entertainment and manufacturing venue with beer and wine license potential.
      407 E 19Th St, Bakersfield, CA 93305
      View Details
    • $1,100,000
      9,150 SF

      Bakersfield Commercial Property with Solar

      Versatile commercial property in central Bakersfield with retail and warehouse space.
      2305 Chester Ave, Bakersfield, CA 93301
      View Details
    • $800,000
      4,720 SF

      Bakersfield Commercial Property For Sale

      Commercial property with versatile shop, ideal for various business operations.
      3315 Buck Owens Blvd, Bakersfield, CA 93308
      View Details
    • New
      $699,000
      3,410 SF

      Bakersfield Fourplex: Investment Opportunity

      Well-maintained fourplex in Bakersfield with immediate rental income.
      2712 Morin Ct, Bakersfield, CA 93304
      View Details
    • $330,000
      1,315 SF

      Charming Bakersfield Duplex with ADU

      Well-maintained duplex with ADU, ideal for investors or homeowners.
      1107 Pacific St, Bakersfield, CA 93305
      View Details
    • New
      $645,000
      3,168 SF

      Modern Triplex in Southwest Bakersfield

      Well-maintained triplex with garages in desirable Bakersfield location.
      4424 White Ln, Bakersfield, CA 93309
      View Details

    FAQs

    What type of property is this?
    Apartment building - Top-tier managed, fully occupied 10-unit building in East Bakersfield.
    Where is this apartment building located?
    The property is located at 1607 Palm Dr Bakersfield, CA.
    What is the asking price?
    The asking price for this property is $1,150,000.
    What are key features of this property?
    This property features: - Fully occupied, well-maintained 10-unit building.; - Updated with modern dual-pane windows and updated exterior paint.; - Consists of two 2-bedroom units and eight 1-bedroom units.
    (805) 453-8353
    Request Owner's contact information
    1607 Palm Dr Bakersfield, CA 93305
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1607 Palm Dr
    Bakersfield, CA 93305
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1607 Palm Dr Bakersfield, CA 93305
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Phil M Jordan
    (805) 453-8353
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!