Modernized Quadplex with Townhouse
For Sale
$545,000
1612 Flower Street, Bakersfield, CA 93305
Four occupied residences combine a renovated front home with rear townhouse-style units and dedicated access from the alley.
Property Size3,024 SF
Days on Market556
Property Features for 1612 Flower Street
General Information
Standard status
Active
Size
3,024 SF
Total Parking Spaces
4
Property subtype
MF
Zoning
R-3
Occupancy
100%
Units
Unit Mix
1 x 2BR/1BA, 3 x 2BR/1.5BA
Multifamily Units
4
Building Details
Building Size
3,024 SF
Year Built
1997
Year Renovated
2017
Buildings
2
Stories
2
Units
4
Listing Agency:
Keller Williams Realty
(805) 453-8353
Listed By:
Philip Jordan · License #00966411
(805) 453-8353
Source:
Realnex
Added: Feb 22, 2025
Changed: Aug 30
Last Checked: Aug 31 at 12:34PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This R-3 quadplex includes a two-bedroom, one-bath front house with a fenced yard and private parking, along with three rear townhouse-style residences offering two bedrooms and one and one-half baths each. The rear structure was built in 2017 following a fire and includes a new roof and dual-pane windows. The front house was also renovated in 2017 with a new roof, air conditioning, dual-pane windows, and updated electrical service. Central air and heating systems are 8 years old or newer.
Located on Flower Street in Bakersfield, the rear residences are reached from the alley. All four units are occupied and professionally managed. One unit is on a month-to-month arrangement, while the remaining three units are subject to 1-year leases.
Located on Flower Street in Bakersfield, the rear residences are reached from the alley. All four units are occupied and professionally managed. One unit is on a month-to-month arrangement, while the remaining three units are subject to 1-year leases.
Key Highlights
- Four‑unit R‑3 property with one front house and three rear townhouse‑style residences
- Front residence features 2 bedrooms, 1 bath, fenced yard, and private parking
- Rear units offer 2 bedrooms and 1.5 baths each with alley access
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
$39,188
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
7.19%
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%
$783,760
$783.8K
Cap Rate 7%
$559,829
$559.8K
Cap Rate 9%
$435,422
$435.4K
Market Conditions
NOI Build-Up for 3,024 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
$59.9K $19.80/SF
− Vacancy
−$3.9K −$1.29/SF
EGI
$56.0K $18.51/SF
− OpEx
−$16.8K −$5.55/SF
NOI
$39.2K $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%
$783,760
Cap Rate 7%
$559,829
Cap Rate 9%
$435,422
Alternative Uses
Best Use
Multifamily LT 5
$559.8K
$489.9K – $653.1K
NOI $39,188 @ 7.0% cap · market cap 7.19%
Second Best
Apartment 5plus
$519.9K
$455.0K – $606.6K
NOI $36,396 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$802.5K
$702.2K – $936.2K
NOI $56,174 @ 7.0% cap · market cap 10.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,055
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 occupied residences combine a renovated front home with rear townhouse-style units and dedicated access from the alley.
Where is this quadplex located?
The property is located at 1612 Flower Street Bakersfield, CA.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: Four‑unit R‑3 property with one front house and three rear townhouse‑style residences; Front residence features 2 bedrooms, 1 bath, fenced yard, and private parking; Rear units offer 2 bedrooms and 1.5 baths each with alley access
