Building Details

Year built 1967

Listing Agency: Watson Realty b***@watsonrealty.com Show Phone

Listed By: John C Fugate · License #01338610 Show Phone

Added: May 13 Changed: Aug 26 Last Checked: Oct 15 at 3:06AM

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MLS# 202604725

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 apartment property comprises a fourplex and two additional units on a 0.26-acre parcel. Each fourplex unit contains two bedrooms and 1.5 baths, with recent renovation work completed in those residences. The front additional unit includes three offices, a private bath, conference room, and recent renovations. A second unit provides a kitchen, dining area, bathrooms, and recreation space.

The 5,681-square-foot property was built in 1967 and combines residential units with flexible interior areas. Its existing office, meeting, kitchen, dining, and recreation components provide a layout that may accommodate residential or group-living operations, including assisted living, subject to applicable approvals.

Key Highlights

• Fourplex plus two additional units
• Each fourplex unit has 2 bedrooms and 1.5 baths
• 5,681 square feet on a 0.26‑acre parcel

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$68,375

Cap Rate

8.55%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,367,500 $1.4M

Cap Rate 7%

$976,786 $976.8K

Cap Rate 9%

$759,722 $759.7K

Market Conditions

NOI Build-Up for 5,681 SF

Gross rent

$132.3K $23.28/SF

− Vacancy

−$7.9K −$1.40/SF

EGI

$124.3K $21.88/SF

− OpEx

−$55.9K −$9.85/SF

NOI

$68.4K $12.04/SF

Area

Bakersfield, CA

Vacancy

6.00%

Lease Rate

$23.28 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,367,500

Cap Rate 7%

$976,786

Cap Rate 9%

$759,722

Alternative Uses

Best Use

Apartment 5plus

$976.8K

$854.7K – $1.14M (±1% cap)

NOI $68,375 @ 7.0% cap · market cap 8.55%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.51M

$1.32M – $1.76M (±1% cap)

NOI $105,530 @ 7.0% cap · market cap 13.19%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Assisted living facilities

Suggested Use

Top Pick Real Estate Agency Law Firm Electrical Service Gym & Fitness Center Skin Care Clinic (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,015

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

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Apartment building - Four apartment units offer two-bedroom layouts, complemented by renovated office and shared-use areas.

Where is this apartment building located?

The property is located at 1610 Oregon Street Bakersfield, CA.

What is the asking price?

The asking price for this property is $800,000.

What are key features of this property?

This property features: Fourplex plus two additional units; Each fourplex unit has 2 bedrooms and 1.5 baths; 5,681 square feet on a 0.26‑acre parcel