Mixed Multifamily Income
For Sale
Contact for pricing
1134 Lomita Dr, Bakersfield, CA 93307
Income property includes a triplex plus detached one-bedroom and studio units on over one acre with yard space.
Property Size4,142 SF
Price / SF$188.31
Days on Market151
Property Features for 1134 Lomita Dr
General Information
Standard status
Active
Size
4,142 SF
Property subtype
Multifamily
Zoning
R-S
Additional Details
Multifamily Units
6
Building Details
Year Built
1928
Stories
1
Units
6
Listing Agency:
Clemmer & Company Real Estate Services
Listed By:
Mark Clemmer · License #01994471
(661) 477-2310
Source:
Crexi
Added: Apr 10
Changed: Sep 5
Last Checked: Sep 5 at 11:21AM
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.
This income-producing property for sale in Bakersfield includes multiple residential units: a 3-bedroom, 2-bath home, a triplex with three 2-bedroom, 1-bath units, a standalone one-bedroom apartment, and a separate studio apartment. The offering is designed to provide a mix of unit types within a single property footprint.
The property sits on over one acre and includes yard space that remains available. Current total rents are stated as $4,500 per month and described as below market value, with the opportunity for additional rent growth mentioned in the remarks.
As configured, the property provides five total rental units plus the additional 3-bedroom home within one over-one-acre parcel.
The property sits on over one acre and includes yard space that remains available. Current total rents are stated as $4,500 per month and described as below market value, with the opportunity for additional rent growth mentioned in the remarks.
As configured, the property provides five total rental units plus the additional 3-bedroom home within one over-one-acre parcel.
Key Highlights
- Income‑producing property built in 1928 in Bakersfield
- Includes a 3 bed, 2 bath home plus a triplex, detached 1‑bedroom apartment, and studio apartment
- Triplex features three 2 bed, 1 bath units
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
$52,701
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
6.76%
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%
$1,054,020
$1.1M
Cap Rate 7%
$752,871
$752.9K
Cap Rate 9%
$585,567
$585.6K
Market Conditions
NOI Build-Up for 4,142 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
$80.5K $19.44/SF
− Vacancy
−$5.2K −$1.26/SF
EGI
$75.3K $18.18/SF
− OpEx
−$22.6K −$5.45/SF
NOI
$52.7K $12.72/SF
Area
ZIP 93307
Vacancy
6.50%
Lease Rate
$19.44 /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%
$1,054,020
Cap Rate 7%
$752,871
Cap Rate 9%
$585,567
Alternative Uses
Best Use
Multifamily LT 5
$752.9K
$658.8K – $878.4K
NOI $52,701 @ 7.0% cap · market cap 6.76%
Second Best
Apartment 5plus
$676.9K
$592.3K – $789.7K
NOI $47,383 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office A
$1.02M
$895.5K – $1.19M
NOI $71,641 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
366
Businesses Nearby
Explore this area
Business Placement
Demographics for 93307, CA
88,338
Population
24,349
Households
3.6
Avg Household Size
29
Median Age
7%
College-Educated
59%
High-School Grad
141.2 sq mi
ZIP Area
626
Density / Sq Mi
$52,572
Median Household Income
$29,141
Median Earnings
$1,195
Median Rent
$238,400
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?
Apartment building - Income property includes a triplex plus detached one-bedroom and studio units on over one acre with yard space.
Where is this apartment building located?
The property is located at 1134 Lomita Dr Bakersfield, CA.
What is the asking price?
The asking price for this property is $780,000.
What are key features of this property?
This property features: Income‑producing property built in 1928 in Bakersfield; Includes a 3 bed, 2 bath home plus a triplex, detached 1‑bedroom apartment, and studio apartment; Triplex features three 2 bed, 1 bath units
