Renovated Apartment
For Sale
$800,000
1610 Oregon Street, Bakersfield, CA 93305
Commercial Sale, Bakersfield, CA
Property Size5,681 SF
Lot Size0.26 Acres
Price / SF$140.82
Days on Market109
Property Features for 1610 Oregon Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
R3
Subdivision
31
Standard status
Active
APN
13812021
Size
5,681 SF
Lot size
0.26 Acres
Building Details
Year built
1967
Listing Agency:
Watson Realty
(661) 327-5161
Listed By:
John C Fugate
6613275161x3728
Added: May 13
Changed: Aug 26
Last Checked: Aug 29 at 12:06PM
MLS# 202604725
Copyright © 2026 Golden Empire MLS, Inc. 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 apartment property comprises a fourplex and two additional units on a 0.26-acre parcel. Each fourplex unit contains two bedrooms and 1.5 baths, with recent renovation work completed in those residences. The front additional unit includes three offices, a private bath, conference room, and recent renovations. A second unit provides a kitchen, dining area, bathrooms, and recreation space.
The 5,681-square-foot property was built in 1967 and combines residential units with flexible interior areas. Its existing office, meeting, kitchen, dining, and recreation components provide a layout that may accommodate residential or group-living operations, including assisted living, subject to applicable approvals.
The 5,681-square-foot property was built in 1967 and combines residential units with flexible interior areas. Its existing office, meeting, kitchen, dining, and recreation components provide a layout that may accommodate residential or group-living operations, including assisted living, subject to applicable approvals.
Key Highlights
- Fourplex plus two additional units
- Each fourplex unit has 2 bedrooms and 1.5 baths
- 5,681 square feet on a 0.26‑acre parcel
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
$68,375
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
8.55%
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%
$1,367,500
$1.4M
Cap Rate 7%
$976,786
$976.8K
Cap Rate 9%
$759,722
$759.7K
Market Conditions
NOI Build-Up for 5,681 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
$132.3K $23.28/SF
− Vacancy
−$7.9K −$1.40/SF
EGI
$124.3K $21.88/SF
− OpEx
−$55.9K −$9.85/SF
NOI
$68.4K $12.04/SF
Area
Bakersfield, CA
Vacancy
6.00%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$1,367,500
Cap Rate 7%
$976,786
Cap Rate 9%
$759,722
Alternative Uses
Best Use
Apartment 5plus
$976.8K
$854.7K – $1.14M
NOI $68,375 @ 7.0% cap · market cap 8.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,530 @ 7.0% cap · market cap 13.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,015
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?
Apartment building - Four apartment units offer two-bedroom layouts, complemented by renovated office and shared-use areas.
Where is this apartment building located?
The property is located at 1610 Oregon Street Bakersfield, CA.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Fourplex plus two additional units; Each fourplex unit has 2 bedrooms and 1.5 baths; 5,681 square feet on a 0.26‑acre parcel
