4-Unit Apartment
New
For Sale
$595,000
1320 Flower St, Bakersfield, CA 93305
Four two-bedroom apartments feature updated finishes, individual cooling equipment, and washer/dryer connections.
Property Size3,432 SF
Days on Market4
Property Features for 1320 Flower St
General Information
Standard status
Active
Size
3,432 SF
Property subtype
Investment
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Public Transit
Yes
Amenities
gated lot
washer/dryer hook-ups
ceiling fans
granite counter-tops
electric stove
dishwasher
new A/C units
new water heaters
Building Details
Building Size
3,432 SF
Year Built
1984
Buildings
1
Stories
2
Units
4
Listing Agency:
century 21 doug anderson and assoc inc
(661) 317-2843
Listed By:
Jason Bruce · License #01747299
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 10 at 7:44AM
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 century 21 doug anderson and assoc inc
Investment Insights
Based on property information with market context.
This 4-unit apartment building, constructed in 1984, contains four two-bedroom, one-bath residences. Unit interiors include new wood and tile flooring, ceiling fans, granite countertops, electric stoves, dishwashers, new A/C units, and new water heaters. Washer/dryer hookups are also provided. The property includes open parking within a gated lot.
Located at 1320 Flower St in Bakersfield, the building is near shopping, restaurants, public transportation, and downtown Bakersfield. Walk Score is 64, Transit Score is 39, and Bike Score is 44, reflecting some walkability, transit access, and bikeability.
Located at 1320 Flower St in Bakersfield, the building is near shopping, restaurants, public transportation, and downtown Bakersfield. Walk Score is 64, Transit Score is 39, and Bike Score is 44, reflecting some walkability, transit access, and bikeability.
Key Highlights
- Four 2‑bedroom, 1‑bath units
- New wood and tile flooring, granite countertops, and ceiling fans
- New A/C units and new water heaters
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
$44,476
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
7.47%
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%
$889,520
$889.5K
Cap Rate 7%
$635,371
$635.4K
Cap Rate 9%
$494,178
$494.2K
Market Conditions
NOI Build-Up for 3,432 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
$68.0K $19.80/SF
− Vacancy
−$4.4K −$1.29/SF
EGI
$63.5K $18.51/SF
− OpEx
−$19.1K −$5.55/SF
NOI
$44.5K $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%
$889,520
Cap Rate 7%
$635,371
Cap Rate 9%
$494,178
Alternative Uses
Best Use
Multifamily LT 5
$635.4K
$556.0K – $741.3K
NOI $44,476 @ 7.0% cap · market cap 7.47%
Second Best
Apartment 5plus
$590.1K
$516.3K – $688.5K
NOI $41,307 @ 7.0% cap · market cap 6.94%
Theoretical Best
Office A
$910.8K
$796.9K – $1.06M
NOI $63,753 @ 7.0% cap · market cap 10.71%
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
640
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 - Four two-bedroom apartments feature updated finishes, individual cooling equipment, and washer/dryer connections.
Where is this quadplex located?
The property is located at 1320 Flower St Bakersfield, CA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Four 2‑bedroom, 1‑bath units; New wood and tile flooring, granite countertops, and ceiling fans; New A/C units and new water heaters
