33-Unit Apartment
New
For Sale
$3,475,000
132 L Street, Bakersfield, CA 93304
Residential Income, Bakersfield, CA
Property Size20,160 SF
Lot Size1.59 Acres
Price / SF$172.37
Days on Market2
Property Features for 132 L Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Covered
Subdivision
The Lowell Addition
Standard status
Active
APN
01032131
Size
20,160 SF
Lot size
1.59 Acres
Building Details
Year built
1971
Floors in Building
1
Number of units
33
Listing Agency:
Central Valley Property Advisors
(661) 376-0575
Listed By:
Eric VanDenk · License #02223453
6613760575x1
Added: Nov 5
Last Checked: Nov 6 at 8:06AM
MLS# 202611697
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.
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Investment Insights
Based on property information with market context.
This 33-unit apartment property at 132 L Street in Bakersfield includes 18 one-bedroom residences and 15 studios. The building contains 20,160 square feet and was constructed in 1971.
The property occupies 1.588 acres and has covered parking.
The property occupies 1.588 acres and has covered parking.
Key Highlights
- 33 apartments: 18 one‑bedroom units and 15 studios
- 20,160 square feet of building area
- Set on 1.588 acres
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$242,641
Cap Rate
6.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,852,820
$4.9M
Cap Rate 7%
$3,466,300
$3.5M
Cap Rate 9%
$2,696,011
$2.7M
Market Conditions
NOI Build-Up for 20,160 SF
Gross rent
$469.3K $23.28/SF
− Vacancy
−$28.2K −$1.40/SF
EGI
$441.2K $21.88/SF
− OpEx
−$198.5K −$9.85/SF
NOI
$242.6K $12.04/SF
Area
Bakersfield, CA
Vacancy
6.00%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,852,820
Cap Rate 7%
$3,466,300
Cap Rate 9%
$2,696,011
Alternative Uses
Best Use
Apartment 5plus
$3.47M
$3.03M – $4.04M
NOI $242,641 @ 7.0% cap · market cap 6.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.35M
$4.68M – $6.24M
NOI $374,492 @ 7.0% cap · market cap 10.78%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
33
Residential units
Location Intelligence
Trade Area within ½ mile
827
Businesses Nearby
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Business Placement
Demographics for 93304, CA
50,837
Population
16,380
Households
3.1
Avg Household Size
31
Median Age
11%
College-Educated
71%
High-School Grad
7.5 sq mi
ZIP Area
6,778
Density / Sq Mi
$51,627
Median Household Income
$31,562
Median Earnings
$1,141
Median Rent
$228,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - The residential mix includes one-bedroom apartments and studio units.
Where is this apartment building located?
The property is located at 132 L Street Bakersfield, CA.
What is the asking price?
The asking price for this property is $3,475,000.
What are key features of this property?
This property features: 33 apartments: 18 one‑bedroom units and 15 studios; 20,160 square feet of building area; Set on 1.588 acres
