New Triplex with Paid
For Sale
$445,000
407 Washington Ave, Bakersfield, CA 93308
Brand-new triplex featuring paid-off solar, offering exceptional energy savings.
Property Size2,120 SF
Lot Size0.12 Acres
Days on Market152
Property Features for 407 Washington Ave
General Information
Standard status
Active
Size
2,120 SF
Lot size
0.12 Acres
Property subtype
Investment
Building Details
Building Size
2,120 SF
Year Built
2025
Stories
1
Units
3
Listing Agency:
Central Valley Property Advisors
(661) 376-0575
Listed By:
Eric Van Denk · License #02223453
(661) 376-0575
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 4:35AM
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 Central Valley Property Advisors
Investment Insights
Based on property information with market context.
This new triplex presents a rare opportunity for ownership, featuring paid-off solar panels for energy savings and reduced operating costs. The property includes two 1-bedroom, 1-bath units suitable for rental income or extended-stay tenants. Additionally, there is a spacious 3-bedroom, 2-bath ADU (Accessory Dwelling Unit) that could serve as an owner-occupied residence or a premium rental. Constructed with long-term value, modern finishes, and minimal maintenance in mind, the property is move-in ready and income-producing. Each unit features contemporary kitchens, stylish flooring, and efficient layouts. This property is located in Bakersfield, CA.
Key Highlights
- Brand‑new triplex built in 2025 offering immediate income potential.
- Paid‑off solar panels providing significant energy savings and low operating costs.
- Includes a spacious 3‑bedroom, 2‑bath ADU ideal for owner‑occupancy or premium rental income.
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
$27,473
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
6.17%
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%
$549,460
$549.5K
Cap Rate 7%
$392,471
$392.5K
Cap Rate 9%
$305,256
$305.3K
Market Conditions
NOI Build-Up for 2,120 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
$42.0K $19.80/SF
− Vacancy
−$2.7K −$1.29/SF
EGI
$39.2K $18.51/SF
− OpEx
−$11.8K −$5.55/SF
NOI
$27.5K $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%
$549,460
Cap Rate 7%
$392,471
Cap Rate 9%
$305,256
Alternative Uses
Best Use
Multifamily LT 5
$392.5K
$343.4K – $457.9K
NOI $27,473 @ 7.0% cap · market cap 6.17%
Second Best
Apartment 5plus
$364.5K
$319.0K – $425.3K
NOI $25,516 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$562.6K
$492.3K – $656.4K
NOI $39,381 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
632
Businesses Nearby
Explore this area
Business Placement
Demographics for 93308, CA
56,037
Population
21,443
Households
2.6
Avg Household Size
35
Median Age
18%
College-Educated
84%
High-School Grad
344.6 sq mi
ZIP Area
163
Density / Sq Mi
$59,511
Median Household Income
$39,676
Median Earnings
$1,260
Median Rent
$298,000
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?
Triplex - Brand-new triplex featuring paid-off solar, offering exceptional energy savings.
Where is this triplex located?
The property is located at 407 Washington Ave Bakersfield, CA.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: Brand‑new triplex built in 2025 offering immediate income potential.; Paid‑off solar panels providing significant energy savings and low operating costs.; Includes a spacious 3‑bedroom, 2‑bath ADU ideal for owner‑occupancy or premium rental income.
