6-Unit Renovated Apartment
For Sale
$645,888
222 E Street, Taft, CA 93268
Recently updated multifamily property with uniform two-bedroom, one-bathroom apartment layouts and rental income in place.
Property Size4,554 SF
Price / SF$141.83
Days on Market19
Property Features for 222 E Street
General Information
Standard status
Active
Size
4,554 SF
Property subtype
Residential Income
Units
Unit Mix
6 x 2BR/1BA
Multifamily Units
6
Listing Agency:
Benchmark Real Estate Group
(661) 319-0915
Listed By:
Joshua Stone
(661) 319-0915
Source:
Exprealty
Added: Jul 23
Changed: Aug 9
Last Checked: Aug 9 at 4:09PM
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 Benchmark Real Estate Group
Investment Insights
Based on property information with market context.
Located at 222 E Street in Taft, California, this apartment building contains six residential units totaling 4,554 square feet. Each apartment is configured with two bedrooms and one bathroom, creating a consistent unit mix across the property.
The building has undergone recent renovations, with updated finishes throughout the units. Rental income is currently being produced, and the property is maintained as a multifamily asset with a uniform layout and six-unit configuration.
The building has undergone recent renovations, with updated finishes throughout the units. Rental income is currently being produced, and the property is maintained as a multifamily asset with a uniform layout and six-unit configuration.
Key Highlights
- Six‑unit apartment building totaling 4,554 square feet
- Each unit includes 2 bedrooms and 1 bathroom
- Recently renovated with updated finishes throughout
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
$52,462
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
8.12%
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%
$1,049,240
$1.0M
Cap Rate 7%
$749,457
$749.5K
Cap Rate 9%
$582,911
$582.9K
Market Conditions
NOI Build-Up for 4,554 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
$98.4K $21.60/SF
− Vacancy
−$3.0K −$0.65/SF
EGI
$95.4K $20.95/SF
− OpEx
−$42.9K −$9.43/SF
NOI
$52.5K $11.52/SF
Area
Kern County, CA
Vacancy
3.03%
Lease Rate
$21.60 /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%
$1,049,240
Cap Rate 7%
$749,457
Cap Rate 9%
$582,911
Alternative Uses
Best Use
Apartment 5plus
$749.5K
$655.8K – $874.4K
NOI $52,462 @ 7.0% cap · market cap 8.12%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$972.9K
$851.3K – $1.14M
NOI $68,101 @ 7.0% cap · market cap 10.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
112
Businesses Nearby
Explore this area
Business Placement
Demographics for 93268, CA
18,502
Population
6,289
Households
2.9
Avg Household Size
32
Median Age
9%
College-Educated
74%
High-School Grad
68.1 sq mi
ZIP Area
272
Density / Sq Mi
$55,473
Median Household Income
$28,563
Median Earnings
$998
Median Rent
$225,000
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 - Recently updated multifamily property with uniform two-bedroom, one-bathroom apartment layouts and rental income in place.
Where is this apartment building located?
The property is located at 222 E Street Taft, CA.
What is the asking price?
The asking price for this property is $645,888.
What are key features of this property?
This property features: Six‑unit apartment building totaling 4,554 square feet; Each unit includes 2 bedrooms and 1 bathroom; Recently renovated with updated finishes throughout
