Remodeled Duplex with Permitted
New
For Sale
$299,000
1507 Pearl Street, Bakersfield, CA 93305
Residential Income, Bakersfield, CA
Property Size1,494 SF
Lot Size0.17 Acres
Price / SF$200.13
Days on Market4
Property Features for 1507 Pearl Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Covered
Elementary school
College Heights
Middle school
Compton
High school
East
Subdivision
31
Standard status
Active
APN
12809030
Size
1,494 SF
Lot size
0.17 Acres
Amenities
indoor laundry room
in-unit laundry room
solar
gated front yard
gated backyard
tandem parking
Building Details
Year built
1940
Floors in Building
1
Number of units
2
Listing Agency:
Keller Williams Realty
(661) 617-6500
Listed By:
Phil M Jordan
(805) 453-8353
Added: Sep 9
Changed: Sep 10
Last Checked: Sep 12 at 9:06PM
MLS# 202609754
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.
Investment Insights
Based on property information with market context.
This duplex property contains two independent residences on one parcel totaling 1,494 square feet. The primary home has been fully remodeled with a new kitchen, farmhouse sink, updated tile work, a refreshed bathroom, and an indoor laundry room with hookups. The permitted rear ADU includes a private entrance, paved yard, galley kitchen, and in-unit laundry room.
Paid-in-full solar serves the property. Exterior features include tandem covered parking, a gated front yard, and a separately gated backyard. Built in 1940, the property is located at 1507 Pearl Street in Bakersfield, California 93305.
Paid-in-full solar serves the property. Exterior features include tandem covered parking, a gated front yard, and a separately gated backyard. Built in 1940, the property is located at 1507 Pearl Street in Bakersfield, California 93305.
Key Highlights
- Two independent residences on one parcel
- Fully remodeled 2BD/1BA primary home
- Permitted 2BD/1BA ADU with private entrance
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
$19,361
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
6.48%
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%
$387,220
$387.2K
Cap Rate 7%
$276,586
$276.6K
Cap Rate 9%
$215,122
$215.1K
Market Conditions
NOI Build-Up for 1,494 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
$29.6K $19.80/SF
− Vacancy
−$1.9K −$1.29/SF
EGI
$27.7K $18.51/SF
− OpEx
−$8.3K −$5.55/SF
NOI
$19.4K $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%
$387,220
Cap Rate 7%
$276,586
Cap Rate 9%
$215,122
Alternative Uses
Best Use
Multifamily LT 5
$276.6K
$242.0K – $322.7K
NOI $19,361 @ 7.0% cap · market cap 6.48%
Second Best
Apartment 5plus
$256.9K
$224.8K – $299.7K
NOI $17,981 @ 7.0% cap · market cap 6.01%
Theoretical Best
Office A
$396.5K
$346.9K – $462.6K
NOI $27,753 @ 7.0% cap · market cap 9.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,036
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two independent residences provide flexible living arrangements and rental flexibility.
Where is this duplex located?
The property is located at 1507 Pearl Street Bakersfield, CA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two independent residences on one parcel; Fully remodeled 2BD/1BA primary home; Permitted 2BD/1BA ADU with private entrance
