Two-Unit Duplex with Covered
For Sale
$375,000
2320 MICHAEL Street, Bakersfield, CA 93307
Residential Income, Bakersfield, CA
Property Size2,148 SF
Lot Size0.17 Acres
Price / SF$174.58
Days on Market36
Property Features for 2320 MICHAEL Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Covered
Elementary school
Wayside
Middle school
Sequoia
High school
South
Subdivision
51
Standard status
Active
APN
16626112
Size
2,148 SF
Lot size
0.17 Acres
Building Details
Year built
1980
Floors in Building
1
Number of units
2
Listing Agency:
Avalar Real Estate Alliance
(805) 815-9600
Listed By:
Elvia E Alvarez
(661) 596-3404
Added: Jul 28
Changed: Aug 26
Last Checked: Sep 1 at 6:06AM
MLS# 202608117
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.
Built in 1980, this duplex contains 2,148 square feet arranged as two matching units. Each unit offers three bedrooms and one bathroom, creating a consistent layout across the property. Covered parking is included, and the parcel encompasses 0.1724 acres.
The property is located on Michael Street in Bakersfield, California 93307, within Kern County. Its two-unit configuration and separately arranged residential spaces support continued use as a residential income property.
The property is located on Michael Street in Bakersfield, California 93307, within Kern County. Its two-unit configuration and separately arranged residential spaces support continued use as a residential income property.
Key Highlights
- Two‑unit duplex with 2,148 square feet
- Each unit includes 3 bedrooms and 1 bathroom
- Built in 1980
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
$27,330
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
7.29%
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%
$546,600
$546.6K
Cap Rate 7%
$390,429
$390.4K
Cap Rate 9%
$303,667
$303.7K
Market Conditions
NOI Build-Up for 2,148 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
$41.8K $19.44/SF
− Vacancy
−$2.7K −$1.26/SF
EGI
$39.0K $18.18/SF
− OpEx
−$11.7K −$5.45/SF
NOI
$27.3K $12.72/SF
Area
ZIP 93307
Vacancy
6.50%
Lease Rate
$19.44 /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%
$546,600
Cap Rate 7%
$390,429
Cap Rate 9%
$303,667
Alternative Uses
Best Use
Multifamily LT 5
$390.4K
$341.6K – $455.5K
NOI $27,330 @ 7.0% cap · market cap 7.29%
Second Best
Apartment 5plus
$351.0K
$307.2K – $409.5K
NOI $24,572 @ 7.0% cap · market cap 6.55%
Theoretical Best
Office A
$530.7K
$464.4K – $619.2K
NOI $37,152 @ 7.0% cap · market cap 9.91%
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
429
Businesses Nearby
Explore this area
Business Placement
Demographics for 93307, CA
88,338
Population
24,349
Households
3.6
Avg Household Size
29
Median Age
7%
College-Educated
59%
High-School Grad
141.2 sq mi
ZIP Area
626
Density / Sq Mi
$52,572
Median Household Income
$29,141
Median Earnings
$1,195
Median Rent
$238,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two matching three-bedroom, one-bath units provide a residential income configuration.
Where is this duplex located?
The property is located at 2320 MICHAEL Street Bakersfield, CA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,148 square feet; Each unit includes 3 bedrooms and 1 bathroom; Built in 1980
