Three-Unit Multifamily
For Sale
$545,000
220 F Street, Bakersfield, CA 93304
MULTI_FAMILY - Bakersfield, CA
Property Size2,690 SF
Lot Size0.15 Acres
Price / SF$202.60
Days on Market11
Property Features for 220 F Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Garage
Elementary school
Roosevelt_Bak
Middle school
Emerson
High school
Bakersfield
Subdivision
10
Standard status
Active
APN
00831321
Size
2,690 SF
Lot size
0.15 Acres
Building Details
Year built
1944
Floors in Building
2
Number of units
3
Listing Agency:
Central Valley Property Advisors
(661) 376-0575
Listed By:
Eric VanDenk · License #02223453
6613760575x1
Added: Jul 29
Changed: Aug 7
Last Checked: Aug 8 at 12:06PM
MLS# 202608153
Copyright © 2026 Bakersfield Association of Realtors. 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.
Located at 220 F Street in Bakersfield, this multifamily property contains three residential units within 2,690 square feet. Each residence has a two-bedroom, one-bathroom configuration, creating a consistent layout across the property. Two garages provide on-site parking, and the property occupies 0.15 acres.
Built in 1944, the property is situated in Bakersfield’s Oleander neighborhood. The surrounding area is described as established and tree-lined, with downtown shopping, dining, and everyday conveniences nearby. The combination of uniform unit plans and garage parking creates a straightforward physical configuration for multifamily ownership.
Built in 1944, the property is situated in Bakersfield’s Oleander neighborhood. The surrounding area is described as established and tree-lined, with downtown shopping, dining, and everyday conveniences nearby. The combination of uniform unit plans and garage parking creates a straightforward physical configuration for multifamily ownership.
Key Highlights
- Three‑unit multifamily property with 2,690 square feet
- Each unit features 2 bedrooms and 1 bathroom
- Two garages provide on‑site parking
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
$34,860
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
6.40%
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%
$697,200
$697.2K
Cap Rate 7%
$498,000
$498.0K
Cap Rate 9%
$387,333
$387.3K
Market Conditions
NOI Build-Up for 2,690 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
$53.3K $19.80/SF
− Vacancy
−$3.5K −$1.29/SF
EGI
$49.8K $18.51/SF
− OpEx
−$14.9K −$5.55/SF
NOI
$34.9K $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%
$697,200
Cap Rate 7%
$498,000
Cap Rate 9%
$387,333
Alternative Uses
Best Use
Multifamily LT 5
$498.0K
$435.8K – $581.0K
NOI $34,860 @ 7.0% cap · market cap 6.40%
Second Best
Apartment 5plus
$462.5K
$404.7K – $539.6K
NOI $32,376 @ 7.0% cap · market cap 5.94%
Theoretical Best
Office A
$713.8K
$624.6K – $832.8K
NOI $49,969 @ 7.0% cap · market cap 9.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
911
Businesses Nearby
Explore this area
Business Placement
Demographics for 93304, CA
50,837
Population
16,380
Households
3.1
Avg Household Size
31
Median Age
11%
College-Educated
71%
High-School Grad
7.5 sq mi
ZIP Area
6,778
Density / Sq Mi
$51,627
Median Household Income
$31,562
Median Earnings
$1,141
Median Rent
$228,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Uniform two-bedroom layouts are paired with garage parking in an established Bakersfield neighborhood.
Where is this triplex located?
The property is located at 220 F Street Bakersfield, CA.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: Three‑unit multifamily property with 2,690 square feet; Each unit features 2 bedrooms and 1 bathroom; Two garages provide on‑site parking
