Individually Metered
New
For Sale
$499,900
2037 Oregon St, Bakersfield, CA 93305
Four separate residential units support distinct utility metering within the property.
Property Size2,164 SF
Days on Market2
Property Features for 2037 Oregon St
General Information
Standard status
Active
Size
2,164 SF
Property subtype
Investment
Additional Details
Multifamily Units
4
Building Details
Building Size
2,164 SF
Year Built
1950
Stories
1
Units
4
Listed By:
Rafael Cortes
(562) 682-8559
Source:
Elliman
Added: Sep 1
Last Checked: Sep 1 at 9:06PM
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 Rafael Cortes
Investment Insights
Based on property information with market context.
This Bakersfield quadplex contains four separate residential units, each with individual utility metering. The property was built in 1950 and is located at 2037 Oregon St.
Walk Score is 56, indicating Somewhat Walkable access, while Bike Score is 44 and Transit Score is 39.
Walk Score is 56, indicating Somewhat Walkable access, while Bike Score is 44 and Transit Score is 39.
Key Highlights
- Four separate residential units
- Individually metered units
- Built in 1950
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
$28,043
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
5.61%
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%
$560,860
$560.9K
Cap Rate 7%
$400,614
$400.6K
Cap Rate 9%
$311,589
$311.6K
Market Conditions
NOI Build-Up for 2,164 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
$42.8K $19.80/SF
− Vacancy
−$2.8K −$1.29/SF
EGI
$40.1K $18.51/SF
− OpEx
−$12.0K −$5.55/SF
NOI
$28.0K $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%
$560,860
Cap Rate 7%
$400,614
Cap Rate 9%
$311,589
Alternative Uses
Best Use
Multifamily LT 5
$400.6K
$350.5K – $467.4K
NOI $28,043 @ 7.0% cap · market cap 5.61%
Second Best
Apartment 5plus
$372.1K
$325.6K – $434.1K
NOI $26,045 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$574.3K
$502.5K – $670.0K
NOI $40,198 @ 7.0% cap · market cap 8.04%
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
1,075
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 separate residential units support distinct utility metering within the property.
Where is this quadplex located?
The property is located at 2037 Oregon St Bakersfield, CA.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Four separate residential units; Individually metered units; Built in 1950
