Bakersfield Triplex Value-Add
For Sale
$399,000
Pending
1024 Bernard Street, Bakersfield, CA 93305
Triplex in convenient location with income potential and upside.
Property Size2,400 SF
Days on Market263
Property Features for 1024 Bernard Street
General Information
Standard status
Pending
Size
2,400 SF
Property subtype
Residential Income
Amenities
Curbs, Street Lights, Sidewalks
Assigned
Building Details
Building Size
2,400 SF
Year Built
1984
Buildings
1
Stories
2
Listing Agency:
Luxury Collective
Listed By:
Jenny Segovia · License #01331605
(818) 378-9022
Source:
Evrealestate
Added: Jan 27
Changed: Oct 3
Last Checked: Oct 16 at 7:51AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Luxury Collective
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Investment Insights
Based on property information with market context.
This multi-family triplex in Bakersfield offers income potential and long-term upside. Positioned in a convenient location with access to schools, shopping, employment centers, and major thoroughfares, this property is suited for stable cash flow and future appreciation. The triplex features three separate units, each with its own private living space and functional layout. The property’s configuration offers flexibility for full rental operation, owner-occupancy with income, or repositioning for increased rents. Generous lot space and onsite parking add to tenant convenience and overall desirability. There is consistent demand for rental housing in the area. Located minutes from downtown Bakersfield, local employers, dining, and commuter routes, this property delivers both accessibility and investment appeal. The bike score is 42, making it somewhat bikeable. The walk score is 69, making it somewhat walkable. The transit score is 35, indicating some transit options.
Key Highlights
- Strong income potential and long‑term upside for investors or owner‑users.
- Convenient Bakersfield location with easy access to schools, shopping, employment, and major thoroughfares.
- Three separate units, each with private living space and functional layout.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,102
Cap Rate
7.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$622,040
$622.0K
Cap Rate 7%
$444,314
$444.3K
Cap Rate 9%
$345,578
$345.6K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$47.5K $19.80/SF
− Vacancy
−$3.1K −$1.29/SF
EGI
$44.4K $18.51/SF
− OpEx
−$13.3K −$5.55/SF
NOI
$31.1K $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 Rate 5%
$622,040
Cap Rate 7%
$444,314
Cap Rate 9%
$345,578
Alternative Uses
Best Use
Multifamily LT 5
$444.3K
$388.8K – $518.4K
NOI $31,102 @ 7.0% cap · market cap 7.79%
Second Best
Apartment 5plus
$412.7K
$361.1K – $481.4K
NOI $28,886 @ 7.0% cap · market cap 7.24%
Theoretical Best
Office A
$636.9K
$557.3K – $743.0K
NOI $44,582 @ 7.0% cap · market cap 11.17%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
645
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Triplex in convenient location with income potential and upside.
Where is this triplex located?
The property is located at 1024 Bernard Street Bakersfield, CA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Strong income potential and long‑term upside for investors or owner‑users.; Convenient Bakersfield location with easy access to schools, shopping, employment, and major thoroughfares.; Three separate units, each with private living space and functional layout.
