Fourplex with Attached
For Sale
$639,000
132 Warren Avenue, Bakersfield, CA 93308
MULTI_FAMILY - Bakersfield, CA
Property Size3,636 SF
Lot Size0.21 Acres
Price / SF$175.74
Days on Market123
Property Features for 132 Warren Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-2
Bedrooms
7
Bathrooms
7
Full bathrooms
7
Rooms
Bathroom 2, Bedroom 1, Bathroom 1, Bathroom 5, Bedroom 3, Bathroom 4, Bedroom 7, Bedroom 4, Bathroom 6, Bathroom 3, Bedroom 2, Bedroom 5, Bedroom 6, Bathroom 7
Directions
North Chester Avenue, West on Warren Avenue
Subdivision
96 - Out of Area North
Standard status
Active
APN
113-321-11
Size
3,636 SF
Lot size
0.21 Acres
Utilities
Cooling system
Central Air
Amenities
private patios
in-unit laundry
Building Details
Year built
1967
Number of units
4
Building materials
Stucco
Roof type
Composition
Listing Agency:
BHGRE Platinum Realty Group
(661) 488-7411
Listed By:
Jennie Settelmeyer · License #01195487
(661) 618-3790
Added: Apr 23
Changed: Aug 7
Last Checked: Aug 23 at 4:06AM
MLS# 26003274
Copyright © 2026 Greater Antelope Valley Association of Realtors. 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 four-unit multifamily property contains 3,636 square feet on a 0.21-acre lot. The configuration includes three two-bedroom residences and one one-bedroom residence, with bathroom counts ranging from one to two full or partial baths. Each unit has an attached garage, while additional features include private patios and in-unit laundry. Unit layouts include both single-story and two-story residences, and the garage arrangement ranges from one to two spaces per unit.
Constructed in 1967, the property has stucco construction, composition roofing, and central air conditioning. It is zoned R-2 and located in Bakersfield near shopping centers, dining, and transportation. The property includes updated units and offers four distinct residential floor plans within a single multifamily asset.
Constructed in 1967, the property has stucco construction, composition roofing, and central air conditioning. It is zoned R-2 and located in Bakersfield near shopping centers, dining, and transportation. The property includes updated units and offers four distinct residential floor plans within a single multifamily asset.
Key Highlights
- Four‑unit property totaling 3,636 square feet on 0.21 acres
- Unit mix includes three 2‑bedroom residences and one 1‑bedroom residence
- Attached garages serve all four units; garage capacity ranges from 1 to 2 spaces
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
$47,119
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
7.37%
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%
$942,380
$942.4K
Cap Rate 7%
$673,129
$673.1K
Cap Rate 9%
$523,544
$523.5K
Market Conditions
NOI Build-Up for 3,636 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
$72.0K $19.80/SF
− Vacancy
−$4.7K −$1.29/SF
EGI
$67.3K $18.51/SF
− OpEx
−$20.2K −$5.55/SF
NOI
$47.1K $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%
$942,380
Cap Rate 7%
$673,129
Cap Rate 9%
$523,544
Alternative Uses
Best Use
Multifamily LT 5
$673.1K
$589.0K – $785.3K
NOI $47,119 @ 7.0% cap · market cap 7.37%
Second Best
Apartment 5plus
$625.2K
$547.0K – $729.4K
NOI $43,762 @ 7.0% cap · market cap 6.85%
Theoretical Best
Office A
$964.9K
$844.3K – $1.13M
NOI $67,542 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
509
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?
Quadplex - Updated multifamily property with private patios, in-unit laundry, and a varied one- and two-bedroom unit mix.
Where is this quadplex located?
The property is located at 132 Warren Avenue Bakersfield, CA.
What is the asking price?
The asking price for this property is $639,000.
What are key features of this property?
This property features: Four‑unit property totaling 3,636 square feet on 0.21 acres; Unit mix includes three 2‑bedroom residences and one 1‑bedroom residence; Attached garages serve all four units; garage capacity ranges from 1 to 2 spaces
