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

    249 E Marengo Ave Shafter, CA 93263

    View on Map
    Sponsored
    For Sale
    $349,000

    MULTI_FAMILY - Shafter, CA

    Property size:
    1,738 SF
    Lot size:
    0.18 Acres
    Days on Market:
    1
    Last Refresh:
    Mar 10 at 5:06 pm

    Property Features for 249 E Marengo Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    APN
    02822208
    Parking features
    Covered
    Size
    1,738 SF
    Lot size
    0.18 Acres

    Building Details

    Year built
    1935
    Floors in Building
    1
    Number of units
    2

    We can help!

    Listing Contact
    Jesse Corona

    Miramar International

    Listing agent Jesse Corona

    Listing date Mar 10, 2026

    MLS# 202602509 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

    Shafter Multifamily Investment Opportunity

    This multifamily property in Shafter, California, presents an excellent investment opportunity. It features two freestanding homes, each with individual electric, gas, and water meters, as well as separate addresses (249/251). The front home includes a living room, dining room, kitchen, two bedrooms, and a bonus room. It was updated in 2016 with new windows, color coating, inside plumbing, and some electrical work, including the electrical box. The bathroom was rebuilt with a new walk-in tiled shower. The roof was replaced in 2024. It also has separate fenced yards, inside laundry hookups, window AC, and a wall heater. An extended driveway in front accommodates RV parking. The back home features two bedrooms, a living room, dining room, kitchen, bathroom, and laundry hookups. It was updated in 2019 with new windows and a rebuilt bathroom with a tiled stand shower, and a wall heater. The roof was replaced in 2024. The hot water heater was newly installed in 2026. Alley access parking is available. The property is listed as a duplex and sits on a lot of approximately 0.18 acres. The front home was updated in 2016 and the back home was updated in 2019. Both homes have new roofs as of 2024.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Shafter
    County
    Kern
    State
    California
    Longitude
    -119.274643
    Latitude
    35.498497

    Nearby Similar for Sale

    • $450,000

      Commercial Property in Shafter

      Well-maintained commercial property suitable for retail, office, or service-based operations.
      588 E Lerdo Hwy, Shafter, CA 93263
      View Details
    • $450,000

      Shafter Commercial Property for Sale

      Well-maintained commercial property in Shafter with flexible space.
      588 E Lerdo Hwy, Shafter, CA 93263
      View Details
    • $325,000
      0.17 Acres

      Shafter Multifamily Investment Opportunity

      Multifamily property in Shafter, CA with steady cash flow.
      208 California Ave, Shafter, CA 93263
      View Details
    • Contact for pricing

      Shafter Almond Orchard For Sale

      77.27+/- acre almond property with irrigation water access.
      30701 Madera Ave, Shafter, CA 93263
      View Details
    • Contact for pricing
      19.58 Acres

      Shafter Industrial Property For Sale/Lease

      ±129,465 SF Spec Building, 19.58 Acres
      0 Swc Coberly Rd And Cherry Ave, Shafter, CA 93314
      View Details
    • Contact for pricing
      6,000 SF

      Shafter Industrial Space For Lease

      Modern metal buildings, flexible space available.
      5240 Doolittle Ave, Shafter, CA 93263
      View Details
    • $1,875,000
      12,891 SF

      Shafter Industrial Property - 11.7 Acres

      Prime Shafter location, large industrial lot, office & shop.
      1270 Riverside St, Shafter, CA 93263
      View Details

    FAQs

    What type of property is this?
    Duplex - Two freestanding homes, updated, with separate utilities and yards.
    Where is this duplex located?
    The property is located at 249 E Marengo Ave Shafter, CA.
    What is the asking price?
    The asking price for this property is $349,000.
    What are key features of this property?
    This property features: - Duplex: Two freestanding homes with separate addresses and individual utilities.; - Updated Front Home: Renovated in 2016 with new windows, plumbing, some electrical work, and a rebuilt bathroom with a tiled walk-in shower.; - Updated Back Home: Renovated in 2019 with new windows and rebuilt bathroom with tiled stand shower.
    (661) 282-8980
    Request Owner's contact information
    249 E Marengo Ave Shafter, CA 93263
    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.
    249 E Marengo Ave
    Shafter, CA 93263
    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
    249 E Marengo Ave Shafter, CA 93263
    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
    Jesse Corona
    (661) 282-8980 (661) 706-3379
    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!