Duplex with Covered
For Sale
$390,000
1229 Jeffrey Street, Bakersfield, CA 93305
Residential Income, Bakersfield, CA
Property Size1,489 SF
Lot Size0.15 Acres
Price / SF$261.92
Days on Market69
Property Features for 1229 Jeffrey Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Covered
Elementary school
Noble, Myra A.
Middle school
Washington
High school
East
Subdivision
31
Standard status
Active
APN
12607208
Size
1,489 SF
Lot size
0.15 Acres
Building Details
Year built
1940
Floors in Building
1
Number of units
2
Listing Agency:
Central Valley Property Advisors
(661) 376-0575
Listed By:
Eric VanDenk · License #02223453
6613760575x1
Added: Jun 24
Changed: Aug 28
Last Checked: Aug 31 at 12:06PM
MLS# 202606781
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 duplex property includes 1,489 square feet of residential space on a 0.15-acre lot. The improvements date to 1940, and covered parking is provided on site.
The property is located on Jeffrey Street in Bakersfield, within the 93305 ZIP code. Schools, parks, shopping, and everyday amenities are identified nearby, providing access to routine services and community facilities.
The property is located on Jeffrey Street in Bakersfield, within the 93305 ZIP code. Schools, parks, shopping, and everyday amenities are identified nearby, providing access to routine services and community facilities.
Key Highlights
- 1,489‑square‑foot duplex on a 0.15‑acre lot
- Covered parking included
- Improvements built in 1940
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
$19,296
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
4.95%
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%
$385,920
$385.9K
Cap Rate 7%
$275,657
$275.7K
Cap Rate 9%
$214,400
$214.4K
Market Conditions
NOI Build-Up for 1,489 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
$29.5K $19.80/SF
− Vacancy
−$1.9K −$1.29/SF
EGI
$27.6K $18.51/SF
− OpEx
−$8.3K −$5.55/SF
NOI
$19.3K $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%
$385,920
Cap Rate 7%
$275,657
Cap Rate 9%
$214,400
Alternative Uses
Best Use
Multifamily LT 5
$275.7K
$241.2K – $321.6K
NOI $19,296 @ 7.0% cap · market cap 4.95%
Second Best
Apartment 5plus
$256.0K
$224.0K – $298.7K
NOI $17,921 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$395.1K
$345.8K – $461.0K
NOI $27,660 @ 7.0% cap · market cap 7.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
562
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?
Duplex - Two-unit residential property with covered parking in a central Bakersfield location.
Where is this duplex located?
The property is located at 1229 Jeffrey Street Bakersfield, CA.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: 1,489‑square‑foot duplex on a 0.15‑acre lot; Covered parking included; Improvements built in 1940
