Updated Duplex With Private
For Sale
$425,000
1233 Woodrow Ave, Bakersfield, CA 93308
Two homes share a lot, each with its own laundry room and recent building-system improvements.
Property Size1,468 SF
Price / SF$289.51
Days on Market23
Property Features for 1233 Woodrow Ave
General Information
Standard status
Active
Size
1,468 SF
Property subtype
Residential Income
Financials
Gross Income
$38,400
Average Monthly Rent
$1,600
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
private laundry room
Listing Agency:
Redfin Corporation
(661) 330-5039
Listed By:
Valerie A. Fontes
(661) 330-5039
Source:
Exprealty
Added: Aug 6
Changed: Aug 20
Last Checked: Aug 26 at 11:35AM
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 Redfin Corporation
Investment Insights
Based on property information with market context.
This duplex property at 1233 Woodrow Ave in Bakersfield, CA contains two updated residences on a single lot. The combined building area is approximately 1,468 square feet, with each home measuring approximately 734 square feet. Both residences are configured with two bedrooms, one bathroom, and a private laundry room, creating matching layouts across the property.
Recent work includes replacement roofs, new windows, new flooring, and plumbing upgrades. The two-unit configuration provides separate residential spaces within one asset, while the consistent floor plans and private laundry areas support straightforward property management. Each home offers a defined bedroom, bath, and laundry arrangement suited to its residential use.
Recent work includes replacement roofs, new windows, new flooring, and plumbing upgrades. The two-unit configuration provides separate residential spaces within one asset, while the consistent floor plans and private laundry areas support straightforward property management. Each home offers a defined bedroom, bath, and laundry arrangement suited to its residential use.
Key Highlights
- Two residences on one lot
- Approximately 1,468 square feet combined
- Each unit is approximately 734 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
$19,024
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
4.48%
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%
$380,480
$380.5K
Cap Rate 7%
$271,771
$271.8K
Cap Rate 9%
$211,378
$211.4K
Market Conditions
NOI Build-Up for 1,468 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
$29.1K $19.80/SF
− Vacancy
−$1.9K −$1.29/SF
EGI
$27.2K $18.51/SF
− OpEx
−$8.2K −$5.55/SF
NOI
$19.0K $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%
$380,480
Cap Rate 7%
$271,771
Cap Rate 9%
$211,378
Alternative Uses
Best Use
Multifamily LT 5
$271.8K
$237.8K – $317.1K
NOI $19,024 @ 7.0% cap · market cap 4.48%
Second Best
Apartment 5plus
$252.4K
$220.9K – $294.5K
NOI $17,668 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$389.6K
$340.9K – $454.5K
NOI $27,270 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
366
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?
Duplex - Two homes share a lot, each with its own laundry room and recent building-system improvements.
Where is this duplex located?
The property is located at 1233 Woodrow Ave Bakersfield, CA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two residences on one lot; Approximately 1,468 square feet combined; Each unit is approximately 734 square feet
