Six-Unit Apartment
New
For Sale
$626,000
308 Orange Avenue, Arvin, CA 93203
Residential Income, Arvin, CA
Property Size2,197 SF
Lot Size0.18 Acres
Price / SF$284.93
Days on Market5
Property Features for 308 Orange Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Covered, Garage
Elementary school
Sierra Vista
Middle school
Haven Drive
High school
Arvin
Elementary school district
Arvin Union
Subdivision
99
Standard status
Active
APN
19123102
Size
2,197 SF
Lot size
0.18 Acres
Building Details
Year built
1937
Floors in Building
1
Number of units
6
Listing Agency:
Watson Realty
(661) 327-5161
Listed By:
Clint J Bottoms
(661) 808-8152
Added: Sep 23
Last Checked: Sep 27 at 4:06PM
MLS# 202610241
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 multifamily property consists of two triplexes on adjoining parcels offered together as one package. The six-unit configuration includes a studio and two 1BR/1BA units at 302 Orange Ave, along with a 3BR/1BA unit and two additional studios at 308 Orange Ave. All units are occupied, and tenants are on month-to-month terms. The property was built in 1937 and includes covered parking and garage parking.
The parcels total 0.1806 acres, with a combined property size of 2,197 square feet. The 302 Orange Ave parcel may accommodate an additional unit, subject to buyer due diligence and applicable permitting. Both parcels are required to be purchased together.
The parcels total 0.1806 acres, with a combined property size of 2,197 square feet. The 302 Orange Ave parcel may accommodate an additional unit, subject to buyer due diligence and applicable permitting. Both parcels are required to be purchased together.
Key Highlights
- Six occupied units across two adjoining triplexes
- Unit mix includes a 3BR/1BA, three studios, and two 1BR/1BA units
- 0.1806‑acre combined parcel area
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
$25,310
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
4.04%
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%
$506,200
$506.2K
Cap Rate 7%
$361,571
$361.6K
Cap Rate 9%
$281,222
$281.2K
Market Conditions
NOI Build-Up for 2,197 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
$47.5K $21.60/SF
− Vacancy
−$1.4K −$0.65/SF
EGI
$46.0K $20.95/SF
− OpEx
−$20.7K −$9.43/SF
NOI
$25.3K $11.52/SF
Area
Kern County, CA
Vacancy
3.03%
Lease Rate
$21.60 /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%
$506,200
Cap Rate 7%
$361,571
Cap Rate 9%
$281,222
Alternative Uses
Best Use
Apartment 5plus
$361.6K
$316.4K – $421.8K
NOI $25,310 @ 7.0% cap · market cap 4.04%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$469.3K
$410.7K – $547.6K
NOI $32,854 @ 7.0% cap · market cap 5.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
388
Businesses Nearby
Explore this area
Business Placement
Demographics for 93203, CA
20,777
Population
5,005
Households
4.2
Avg Household Size
27
Median Age
4%
College-Educated
45%
High-School Grad
172.0 sq mi
ZIP Area
121
Density / Sq Mi
$49,918
Median Household Income
$28,103
Median Earnings
$1,086
Median Rent
$247,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Two adjoining triplexes provide an occupied multifamily configuration with flexible month-to-month tenancy.
Where is this apartment building located?
The property is located at 308 Orange Avenue Arvin, CA.
What is the asking price?
The asking price for this property is $626,000.
What are key features of this property?
This property features: Six occupied units across two adjoining triplexes; Unit mix includes a 3BR/1BA, three studios, and two 1BR/1BA units; 0.1806‑acre combined parcel area
