Two-Unit Duplex with
For Sale
Contact for pricing
1104 Gage St, Bakersfield, CA 93305
Newer construction duplex with in-unit laundry hookups, hard-surface finishes, and HVAC serving both residences.
Property Size1,920 SF
Price / SF$234.38
Days on Market144
Property Features for 1104 Gage St
General Information
Standard status
Active
Size
1,920 SF
Property subtype
Multifamily
Zoning
R4
Building Details
Year Built
2017
Stories
1
Units
2
Listing Agency:
Clemmer & Company Real Estate Services
(661) 477-2310
Listed By:
Mark Clemmer · License #01994471
Source:
Crexi
Added: Apr 10
Changed: Aug 29
Last Checked: Aug 29 at 11:17PM
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 Clemmer & Company Real Estate Services
Investment Insights
Based on property information with market context.
Built in 2017, this duplex contains 2 residential units within approximately 1,920 square feet. Each residence provides 3 bedrooms and 2 bathrooms, along with interior laundry hookups, hard-surface finishes, and its own HVAC equipment. The two-unit configuration offers a straightforward multifamily layout with matching unit plans.
The property is located on Gage St in Bakersfield, California, and is identified as R4 zoning. Both residences include the core features outlined for practical day-to-day occupancy, including dedicated laundry connections and climate control.
The property is located on Gage St in Bakersfield, California, and is identified as R4 zoning. Both residences include the core features outlined for practical day-to-day occupancy, including dedicated laundry connections and climate control.
Key Highlights
- Two‑unit duplex built in 2017
- Each unit has 3 bedrooms and 2 bathrooms
- Approximately 1,920 square feet
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
$24,881
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
5.53%
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%
$497,620
$497.6K
Cap Rate 7%
$355,443
$355.4K
Cap Rate 9%
$276,456
$276.5K
Market Conditions
NOI Build-Up for 1,920 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
$38.0K $19.80/SF
− Vacancy
−$2.5K −$1.29/SF
EGI
$35.5K $18.51/SF
− OpEx
−$10.7K −$5.55/SF
NOI
$24.9K $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%
$497,620
Cap Rate 7%
$355,443
Cap Rate 9%
$276,456
Alternative Uses
Best Use
Multifamily LT 5
$355.4K
$311.0K – $414.7K
NOI $24,881 @ 7.0% cap · market cap 5.53%
Second Best
Apartment 5plus
$330.1K
$288.9K – $385.2K
NOI $23,109 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$509.5K
$445.8K – $594.4K
NOI $35,666 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
698
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
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Frequently Asked Questions
What type of property is this?
Duplex - Newer construction duplex with in-unit laundry hookups, hard-surface finishes, and HVAC serving both residences.
Where is this duplex located?
The property is located at 1104 Gage St Bakersfield, CA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two‑unit duplex built in 2017; Each unit has 3 bedrooms and 2 bathrooms; Approximately 1,920 square feet
