Updated Triplex with On-Site
For Sale
$395,000
130 Highland Drive, Bakersfield, CA 93308
Residential Income, Bakersfield, CA
Property Size2,477 SF
Lot Size0.16 Acres
Price / SF$159.47
Days on Market25
Property Features for 130 Highland Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
4
Parking features
Covered, Garage
Elementary school
Wingland
Middle school
Standard
High school
North
Elementary school district
Standard
Subdivision
22
Standard status
Active
APN
11227325
Size
2,477 SF
Lot size
0.16 Acres
Amenities
on-site laundry
Building Details
Year built
1948
Floors in Building
2
Number of units
3
Listing Agency:
Watson Realty
(661) 327-5161
Listed By:
Nick E Megazzi
(661) 301-2725
Added: Aug 7
Changed: Aug 28
Last Checked: Aug 31 at 4:06AM
MLS# 202608685
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 2,477-square-foot triplex contains three residential units on a 0.16-acre lot. The front portion is a detached single-family residence, while the rear structure contains two additional units with private outdoor areas and abundant natural light. Shared laundry facilities are located in the utility area, and parking includes garage and covered spaces.
Built in 1948, the property has received updates to the roof, plumbing, and sewer systems. All three units are currently leased. The property is situated in Bakersfield, with shopping, dining, local services, and a public elementary school approximately one mile away.
Built in 1948, the property has received updates to the roof, plumbing, and sewer systems. All three units are currently leased. The property is situated in Bakersfield, with shopping, dining, local services, and a public elementary school approximately one mile away.
Key Highlights
- Three‑unit triplex on a 0.16‑acre lot
- 2,477 square feet; built in 1948
- Front detached single‑family residence plus two rear 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
$32,100
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
8.13%
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%
$642,000
$642.0K
Cap Rate 7%
$458,571
$458.6K
Cap Rate 9%
$356,667
$356.7K
Market Conditions
NOI Build-Up for 2,477 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
$49.0K $19.80/SF
− Vacancy
−$3.2K −$1.29/SF
EGI
$45.9K $18.51/SF
− OpEx
−$13.8K −$5.55/SF
NOI
$32.1K $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%
$642,000
Cap Rate 7%
$458,571
Cap Rate 9%
$356,667
Alternative Uses
Best Use
Multifamily LT 5
$458.6K
$401.3K – $535.0K
NOI $32,100 @ 7.0% cap · market cap 8.13%
Second Best
Apartment 5plus
$425.9K
$372.7K – $496.9K
NOI $29,813 @ 7.0% cap · market cap 7.55%
Theoretical Best
Office A
$657.3K
$575.2K – $766.9K
NOI $46,013 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
529
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 - Three leased units include a detached home and two rear residences with shared laundry.
Where is this triplex located?
The property is located at 130 Highland Drive Bakersfield, CA.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Three‑unit triplex on a 0.16‑acre lot; 2,477 square feet; built in 1948; Front detached single‑family residence plus two rear units
