Two-Unit
For Sale
$375,000
2320 Michael St, Bakersfield, CA 93307
Residential duplex with matching three-bedroom, one-bath unit layouts.
Property Size2,148 SF
Price / SF$174.58
Days on Market33
Property Features for 2320 Michael St
General Information
Standard status
Active
Size
2,148 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Listing Agency:
Avalar Real Estate Alliance
(661) 596-3404
Listed By:
Elvia E. Alvarez
(661) 596-3404
Source:
Exprealty
Added: Jul 28
Changed: Aug 22
Last Checked: Aug 26 at 1:21PM
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 Avalar Real Estate Alliance
Investment Insights
Based on property information with market context.
This duplex at 2320 Michael St in Bakersfield, CA contains two residential units. Each unit is configured with three bedrooms and one bathroom, providing a consistent layout across the property.
The property is offered for sale as a two-unit residential income asset. Its identical unit configuration supports straightforward comparison between the residences and a uniform leasing setup.
The property is offered for sale as a two-unit residential income asset. Its identical unit configuration supports straightforward comparison between the residences and a uniform leasing setup.
Key Highlights
- Two residential units in a duplex configuration
- Each unit includes 3 bedrooms and 1 bathroom
- Located at 2320 Michael St, Bakersfield, CA
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
$27,330
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
7.29%
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%
$546,600
$546.6K
Cap Rate 7%
$390,429
$390.4K
Cap Rate 9%
$303,667
$303.7K
Market Conditions
NOI Build-Up for 2,148 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
$41.8K $19.44/SF
− Vacancy
−$2.7K −$1.26/SF
EGI
$39.0K $18.18/SF
− OpEx
−$11.7K −$5.45/SF
NOI
$27.3K $12.72/SF
Area
ZIP 93307
Vacancy
6.50%
Lease Rate
$19.44 /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%
$546,600
Cap Rate 7%
$390,429
Cap Rate 9%
$303,667
Alternative Uses
Best Use
Multifamily LT 5
$390.4K
$341.6K – $455.5K
NOI $27,330 @ 7.0% cap · market cap 7.29%
Second Best
Apartment 5plus
$351.0K
$307.2K – $409.5K
NOI $24,572 @ 7.0% cap · market cap 6.55%
Theoretical Best
Office A
$530.7K
$464.4K – $619.2K
NOI $37,152 @ 7.0% cap · market cap 9.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
429
Businesses Nearby
Explore this area
Business Placement
Demographics for 93307, CA
88,338
Population
24,349
Households
3.6
Avg Household Size
29
Median Age
7%
College-Educated
59%
High-School Grad
141.2 sq mi
ZIP Area
626
Density / Sq Mi
$52,572
Median Household Income
$29,141
Median Earnings
$1,195
Median Rent
$238,400
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?
Duplex - Residential duplex with matching three-bedroom, one-bath unit layouts.
Where is this duplex located?
The property is located at 2320 Michael St Bakersfield, CA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two residential units in a duplex configuration; Each unit includes 3 bedrooms and 1 bathroom; Located at 2320 Michael St, Bakersfield, CA
