Four-Unit Apartment
For Sale
$599,000
1308 Flower, Bakersfield, CA 93305
Well-maintained quadplex with four 2-bedroom, 1-bath units, washer/dryer hookups, and on-site parking.
Property Size3,432 SF
Price / SF$174.03
Days on Market76
Property Features for 1308 Flower
General Information
Standard status
Active
Size
3,432 SF
Property subtype
Investment
Additional Details
Multifamily Units
4
Building Details
Building Size
3,432 SF
Year Built
1984
Stories
1
Units
4
Tenancy
Multi
Listing Agency:
Luxury Collective
Listed By:
Jorge Perez · License #01921907
Source:
Elliman
Added: Jun 17
Changed: Aug 23
Last Checked: Aug 30 at 6:17PM
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 Luxury Collective
Investment Insights
Based on property information with market context.
This well-maintained four-unit apartment building offers a straightforward quadplex layout with four spacious 2-bedroom, 1-bath units. The property provides approximately 3,442 square feet of living space, along with functional unit floor plans and washer/dryer hookups for resident convenience. On-site parking supports day-to-day tenant use, and the overall configuration is designed to keep each unit independently livable.
Located in Bakersfield, the property is described as having convenient access to local schools, shopping, dining, medical facilities, and major commuter routes. The surrounding area is positioned for everyday errands and routine connectivity, which can simplify tenant lifestyle and commuting considerations.
From a tenant and buyer perspective, this is a practical income-oriented multifamily option with four separate rental units in a single asset. Each unit’s 2-bedroom, 1-bath configuration can appeal to households looking for additional space, while the presence of washer/dryer hookups helps reduce in-unit friction. The combination of a maintained property, manageable unit mix, and on-site parking makes the building well-suited for an owner looking for a fourplex to operate directly or manage as part of a broader rental portfolio.
Located in Bakersfield, the property is described as having convenient access to local schools, shopping, dining, medical facilities, and major commuter routes. The surrounding area is positioned for everyday errands and routine connectivity, which can simplify tenant lifestyle and commuting considerations.
From a tenant and buyer perspective, this is a practical income-oriented multifamily option with four separate rental units in a single asset. Each unit’s 2-bedroom, 1-bath configuration can appeal to households looking for additional space, while the presence of washer/dryer hookups helps reduce in-unit friction. The combination of a maintained property, manageable unit mix, and on-site parking makes the building well-suited for an owner looking for a fourplex to operate directly or manage as part of a broader rental portfolio.
Key Highlights
- Well‑maintained four‑unit apartment building with four 2‑bedroom, 1‑bath units
- Approx. 3,442 SF of living space across the four units
- Washer/dryer hookups available in the 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
$44,605
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
7.45%
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%
$892,100
$892.1K
Cap Rate 7%
$637,214
$637.2K
Cap Rate 9%
$495,611
$495.6K
Market Conditions
NOI Build-Up for 3,442 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
$68.2K $19.80/SF
− Vacancy
−$4.4K −$1.29/SF
EGI
$63.7K $18.51/SF
− OpEx
−$19.1K −$5.55/SF
NOI
$44.6K $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%
$892,100
Cap Rate 7%
$637,214
Cap Rate 9%
$495,611
Alternative Uses
Best Use
Multifamily LT 5
$637.2K
$557.6K – $743.4K
NOI $44,605 @ 7.0% cap · market cap 7.45%
Second Best
Apartment 5plus
$591.8K
$517.8K – $690.5K
NOI $41,427 @ 7.0% cap · market cap 6.92%
Theoretical Best
Office A
$913.4K
$799.2K – $1.07M
NOI $63,939 @ 7.0% cap · market cap 10.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
991
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained quadplex with four 2-bedroom, 1-bath units, washer/dryer hookups, and on-site parking.
Where is this quadplex located?
The property is located at 1308 Flower Bakersfield, CA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Well‑maintained four‑unit apartment building with four 2‑bedroom, 1‑bath units; Approx. 3,442 SF of living space across the four units; Washer/dryer hookups available in the units
