Turnkey Multifamily Investment
1800 Forrest Street Bakersfield, CA 93304
1800 Forrest Street, Bakersfield, CA, 93304
$1,225,000
For Sale
Under Contract
$1,225,000
MULTI_FAMILY - Bakersfield, CA
Property Size4,272 SF
Lot Size0.28 Acres
Price / SF$286.75
Days on Market101
Property Features for 1800 Forrest Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking
- 8
- Standard status
- Active Under Contract
- APN
- 00719712
- Size
- 4,272 SF
- Lot size
- 0.28 Acres
Building Details
- Year built
- 1919
- Floors in Building
- 1
- Number of units
- 8
Listing Agency
Miramar Realty
(661) 381-6500
9700 Stockdale Hwy, Suite 329, Bakersfield, CA
Listed by
Troy T Lei
(661) 342-0095
Added: Apr 7 Checked: Jul 16 at 6:06 pm
MLS# 202603702
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.
Investment Insights
Based on property information with market context.
This is a fully renovated 8-unit Spanish-style multifamily property. Priced at $1.2M, it generates $9,000 per month, totaling $108,000 annually, with rents at or near market rates. The property combines character, functionality, and a clean operational profile, enhanced by a desirable central location. The seller has completed a full rehabilitation, presenting investors with a turnkey situation, eliminating construction, lease-up, and rent speculation risks. This makes it ideal for investors seeking a low-maintenance asset. The unit mix is suited for the current market, featuring primarily 1-bedroom units renting for $1,100, equipped with washer and dryer hookups, along with two 2-bedroom units renting for $1,200. This caters to a renter profile that maintains consistent occupancy. All units include washer and dryer hookups. The property is situated on a 0.28-acre lot and the building size is 4,272 square feet. The property is located in Bakersfield, CA.
Key Highlights
- Turnkey, fully renovated 8‑unit Spanish‑style multifamily property.
- Strong in‑place income: $9,000/month ($108K annually) with rents at or near market value.
- No construction, lease‑up, or rent speculation risk due to recent full rehab.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $99.5k | $23.28 |
| − Vacancy | −$6.0k | −$1.40 |
| EGI | $93.5k | $21.88 |
| − OpEx | −$42.1k | −$9.85 |
| NOI | $51.4k | $12.04 |
4,272 SF · lease $23.28/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$734.5K
$642.7K – $857.0K
NOI $51,417 @ 7.0% cap · market cap 4.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.13M
$992.0K – $1.32M
NOI $79,357 @ 7.0% cap · market cap 6.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Fully renovated 8-unit Spanish-style property with strong in-place income.
Where is this apartment building located?
The property is located at 1800 Forrest Street Bakersfield, CA.
What is the asking price?
The asking price for this property is $1,225,000.
What are key features of this property?
This property features: Turnkey, **fully renovated 8‑unit Spanish‑style multifamily property.**; **Strong in‑place income:** $9,000/month ($108K annually) with rents at or near market value.; No construction, lease‑up, or rent speculation risk due to recent full rehab.
