8-Unit Apartment
New
For Sale
Contact for pricing
210 17th Street, Bakersfield, CA 93301
Vintage apartment property with Spanish bungalows, a two-story rear building, and separate gas and electric meters.
Property Size5,912 SF
Lot Size0.26 Acres
Price / SF$156.46
Days on Market6
Property Features for 210 17th Street
General Information
Standard status
Active
Size
5,912 SF
Total Parking Spaces
7
Lot size
0.26 Acres
Property subtype
Multifamily
Investment Type
Value Add
Net Operating Income
$55,712
Financials
Asking Price
$925,000
Cap Rate
6.02%
Average Monthly Rent
$1,060
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
5 x 1BR/1BA, 3 x 2BR/1BA
Multifamily Units
8
Building Details
Year Built
1935
Buildings
3
Units
8
Tenancy
Multi
Listing Agency:
Lyon Stahl Investment Real Estate
Listed By:
Ryan Gonzalez · License #01874815
Source:
Crexi
Added: Aug 5
Changed: Aug 10
Last Checked: Aug 10 at 2:09PM
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 Lyon Stahl Investment Real Estate
Investment Insights
Based on property information with market context.
This 8-unit apartment property was built in 1935 and combines Spanish bungalow residences along 17th Street with a separate two-story building toward the rear. The unit mix includes five one-bedroom, one-bath units and three two-bedroom, one-bath units. Gas and electricity are separately metered, and five units are vacant at delivery.
The property occupies an 11,325 SF lot in Downtown Bakersfield’s 93301 zip code. It is located blocks from the Chester Avenue core, the Fox Theater, and Bakersfield High School, placing the building within an established urban setting. The combination of multiple building forms, varied unit layouts, and existing vacancy provides a clear physical framework for ownership or repositioning plans supported by the property’s current configuration.
The property occupies an 11,325 SF lot in Downtown Bakersfield’s 93301 zip code. It is located blocks from the Chester Avenue core, the Fox Theater, and Bakersfield High School, placing the building within an established urban setting. The combination of multiple building forms, varied unit layouts, and existing vacancy provides a clear physical framework for ownership or repositioning plans supported by the property’s current configuration.
Key Highlights
- 8‑unit apartment property built in 1935
- Unit mix: 5 one‑bedroom/one‑bath and 3 two‑bedroom/one‑bath units
- 11,325 SF lot in Downtown Bakersfield’s 93301 zip code
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
$71,155
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
7.69%
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%
$1,423,100
$1.4M
Cap Rate 7%
$1,016,500
$1.0M
Cap Rate 9%
$790,611
$790.6K
Market Conditions
NOI Build-Up for 5,912 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
$137.6K $23.28/SF
− Vacancy
−$8.3K −$1.40/SF
EGI
$129.4K $21.88/SF
− OpEx
−$58.2K −$9.85/SF
NOI
$71.2K $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 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%
$1,423,100
Cap Rate 7%
$1,016,500
Cap Rate 9%
$790,611
Alternative Uses
Best Use
Apartment 5plus
$1.02M
$889.4K – $1.19M
NOI $71,155 @ 7.0% cap · market cap 7.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,821 @ 7.0% cap · market cap 11.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,261
Businesses Nearby
Explore this area
Business Placement
Demographics for 93301, CA
14,518
Population
6,202
Households
2.3
Avg Household Size
33
Median Age
20%
College-Educated
83%
High-School Grad
4.3 sq mi
ZIP Area
3,376
Density / Sq Mi
$40,725
Median Household Income
$36,623
Median Earnings
$1,129
Median Rent
$264,300
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?
Apartment building - Vintage apartment property with Spanish bungalows, a two-story rear building, and separate gas and electric meters.
Where is this apartment building located?
The property is located at 210 17th Street Bakersfield, CA.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 8‑unit apartment property built in 1935; Unit mix: 5 one‑bedroom/one‑bath and 3 two‑bedroom/one‑bath units; 11,325 SF lot in Downtown Bakersfield’s 93301 zip code
