Upgraded Duplex with Covered
For Sale
$440,000
2321 B Street, Bakersfield, CA 93301
Residential Income, Bakersfield, CA
Property Size1,117 SF
Lot Size0.16 Acres
Price / SF$393.91
Days on Market11
Property Features for 2321 B Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Covered
Elementary school
Franklin
Middle school
Emerson
High school
Bakersfield
Subdivision
10
Standard status
Active
APN
00309003
Size
1,117 SF
Lot size
0.16 Acres
Building Details
Year built
1947
Floors in Building
1
Number of units
2
Listing Agency:
Central Valley Property Advisors
(661) 376-0575
Listed By:
Robin Hundal
(661) 330-6896
Added: Sep 11
Changed: Sep 14
Last Checked: Sep 20 at 11:06PM
MLS# 202609887
Copyright © 2026 Golden Empire MLS, Inc. 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.
This duplex at 2321 B Street contains 1,117 square feet and was built in 1947. The unit configuration includes one two-bedroom, one-bath residence and one one-bedroom, one-bath residence. Both units have dedicated parking, with covered parking identified among the property features. Improvements have been made throughout the building, supporting its current residential income use.
The property is located in Bakersfield’s Westchester submarket, within ZIP Code 93301. The 0.16-acre parcel offers a compact duplex setting in an established residential area. Its two-unit layout and distinct bedroom configurations provide a straightforward small-scale multifamily asset.
The property is located in Bakersfield’s Westchester submarket, within ZIP Code 93301. The 0.16-acre parcel offers a compact duplex setting in an established residential area. Its two-unit layout and distinct bedroom configurations provide a straightforward small-scale multifamily asset.
Key Highlights
- Duplex with one 2BD/1BA unit and one 1BD/1BA unit
- 1,117‑square‑foot property on a 0.16‑acre lot
- Built in 1947
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
$14,475
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
3.29%
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%
$289,500
$289.5K
Cap Rate 7%
$206,786
$206.8K
Cap Rate 9%
$160,833
$160.8K
Market Conditions
NOI Build-Up for 1,117 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
$22.1K $19.80/SF
− Vacancy
−$1.4K −$1.29/SF
EGI
$20.7K $18.51/SF
− OpEx
−$6.2K −$5.55/SF
NOI
$14.5K $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%
$289,500
Cap Rate 7%
$206,786
Cap Rate 9%
$160,833
Alternative Uses
Best Use
Multifamily LT 5
$206.8K
$180.9K – $241.3K
NOI $14,475 @ 7.0% cap · market cap 3.29%
Second Best
Apartment 5plus
$192.1K
$168.1K – $224.1K
NOI $13,444 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$296.4K
$259.4K – $345.8K
NOI $20,749 @ 7.0% cap · market cap 4.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,980
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with a one-bedroom residence, a two-bedroom residence, and covered parking for occupants.
Where is this duplex located?
The property is located at 2321 B Street Bakersfield, CA.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: Duplex with one 2BD/1BA unit and one 1BD/1BA unit; 1,117‑square‑foot property on a 0.16‑acre lot; Built in 1947
