Four-Unit Apartment
For Sale
$639,000
2801 Alta Vista Drive, Bakersfield, CA 93305
Residential Income, Bakersfield, CA
Property Size3,723 SF
Lot Size0.27 Acres
Price / SF$171.64
Days on Market83
Property Features for 2801 Alta Vista Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
4
Parking features
Carport
Elementary school
Noble, Myra A.
Middle school
Washington
High school
North
Subdivision
31
Standard status
Active
APN
12319009
Size
3,723 SF
Lot size
0.27 Acres
Building Details
Year built
1968
Floors in Building
1
Number of units
4
Listing Agency:
LPT Realty. Inc.
(877) 366-2213
Listed By:
Jason Rodriguez · License #01825023
(661) 220-9773
Added: Jun 11
Changed: Aug 26
Last Checked: Aug 31 at 11:06PM
MLS# 202606353
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 four-unit residential property contains 3723 square feet on a 0.27-acre parcel. The configuration includes three 2-bedroom, 1-bathroom units and one 3-bedroom, 1.75-bathroom unit. Built in 1968, the property offers carport parking along with garage space, a paved parking area, and street parking.
The property is located on Alta Vista Drive in Bakersfield, near Garces Memorial High School, Bakersfield College, Panorama Park, shopping, major medical facilities, and Hwy 178. The surrounding area also provides access to the Kern River and established neighborhood amenities. Long-term tenants are in place, and the property is described as producing rental income.
The property is located on Alta Vista Drive in Bakersfield, near Garces Memorial High School, Bakersfield College, Panorama Park, shopping, major medical facilities, and Hwy 178. The surrounding area also provides access to the Kern River and established neighborhood amenities. Long-term tenants are in place, and the property is described as producing rental income.
Key Highlights
- Four residential units with three 2‑bedroom layouts and one 3‑bedroom layout
- Unit configuration includes three 1‑bathroom units and one 1.75‑bathroom unit
- 3723 square feet on a 0.27‑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
$48,247
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
7.55%
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%
$964,940
$964.9K
Cap Rate 7%
$689,243
$689.2K
Cap Rate 9%
$536,078
$536.1K
Market Conditions
NOI Build-Up for 3,723 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
$73.7K $19.80/SF
− Vacancy
−$4.8K −$1.29/SF
EGI
$68.9K $18.51/SF
− OpEx
−$20.7K −$5.55/SF
NOI
$48.2K $12.96/SF
Area
Bakersfield, CA
Vacancy
6.50%
Lease Rate
$19.80 /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%
$964,940
Cap Rate 7%
$689,243
Cap Rate 9%
$536,078
Alternative Uses
Best Use
Multifamily LT 5
$689.2K
$603.1K – $804.1K
NOI $48,247 @ 7.0% cap · market cap 7.55%
Second Best
Apartment 5plus
$640.1K
$560.1K – $746.8K
NOI $44,809 @ 7.0% cap · market cap 7.01%
Theoretical Best
Office A
$988.0K
$864.5K – $1.15M
NOI $69,158 @ 7.0% cap · market cap 10.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
598
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Unit mix includes three two-bedroom residences and one three-bedroom residence.
Where is this quadplex located?
The property is located at 2801 Alta Vista Drive Bakersfield, CA.
What is the asking price?
The asking price for this property is $639,000.
What are key features of this property?
This property features: Four residential units with three 2‑bedroom layouts and one 3‑bedroom layout; Unit configuration includes three 1‑bathroom units and one 1.75‑bathroom unit; 3723 square feet on a 0.27‑acre parcel
