7-Unit Apartment
For Sale
Contact for pricing
Pending
2124 O ST, Bakersfield, CA 93301
Rehabilitated interiors, on-site laundry, and alley-accessed parking support the property’s seven-unit rental configuration.
Property Size5,618 SF
Days on Market160
Property Features for 2124 O ST
General Information
Standard status
Pending
Size
5,618 SF
Net Rentable
5,618 SF
Class
C
Total Parking Spaces
9
Property subtype
Multifamily
Zoning
C-2
Occupancy
100%
Net Operating Income
$84,068
Financials
Asking Price
$1,180,800
Gross Income
$98,400
Units
Unit Mix
4 x 2BR/1.75BA, 3 x 1BR/1BA
Multifamily Units
7
Amenities
on-site laundry room
Building Details
Year Built
1985
Year Renovated
2025
Buildings
2
Stories
2
Units
7
Tenancy
Multi
Listing Agency:
Epique Realty
Listed By:
Debra McTaggart · License #02215280
(661) 204-0159
Source:
Crexi
Added: May 10
Changed: Oct 5
Last Checked: Oct 14 at 8:46PM
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 Epique Realty
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Investment Insights
Based on property information with market context.
Built in 1985, this C-2-zoned apartment property contains seven units across approximately 5,618 square feet of rentable space. The configuration includes four two-bedroom, 1.75-bath units and three one-bedroom, one-bath units. Interior rehabilitation, fresh paint, four new HVAC systems installed in 2025, and an on-site laundry room are among the noted improvements. Parking is accessed from the alley.
The property is located in downtown Bakersfield, within walking distance of Downtown Elementary and a 10-minute walk from the Bakersfield Convention Center. Its combination of varied unit layouts and updated interior systems provides a clearly defined multifamily configuration.
The property is located in downtown Bakersfield, within walking distance of Downtown Elementary and a 10-minute walk from the Bakersfield Convention Center. Its combination of varied unit layouts and updated interior systems provides a clearly defined multifamily configuration.
Key Highlights
- Seven‑unit apartment property with four 2‑bedroom/1.75‑bath units and three 1‑bedroom/1‑bath units
- Approximately 5,618 square feet of rentable space
- Four new HVAC systems installed in 2025
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,804
Cap Rate
7.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,456,080
$1.5M
Cap Rate 7%
$1,040,057
$1.0M
Cap Rate 9%
$808,933
$808.9K
Market Conditions
NOI Build-Up for 5,618 SF
Gross rent
$111.2K $19.80/SF
− Vacancy
−$7.2K −$1.29/SF
EGI
$104.0K $18.51/SF
− OpEx
−$31.2K −$5.55/SF
NOI
$72.8K $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 Rate 5%
$1,456,080
Cap Rate 7%
$1,040,057
Cap Rate 9%
$808,933
Alternative Uses
Best Use
Multifamily LT 5
$1.04M
$910.1K – $1.21M
NOI $72,804 @ 7.0% cap · market cap 7.32%
Second Best
Apartment 5plus
$966.0K
$845.2K – $1.13M
NOI $67,617 @ 7.0% cap · market cap 6.80%
Theoretical Best
Office A
$1.49M
$1.30M – $1.74M
NOI $104,360 @ 7.0% cap · market cap 10.49%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
3,749
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Rehabilitated interiors, on-site laundry, and alley-accessed parking support the property’s seven-unit rental configuration.
Where is this apartment building located?
The property is located at 2124 O ST Bakersfield, CA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Seven‑unit apartment property with four 2‑bedroom/1.75‑bath units and three 1‑bedroom/1‑bath units; Approximately 5,618 square feet of rentable space; Four new HVAC systems installed in 2025
