Duplex with Detached Second
For Sale
$325,000
Pending
2329 Lomita Verde Dr, Bakersfield, CA 93305
Two distinct residences share one parcel, including a three-bedroom main home and a separate one-bedroom living area.
Property Size1,464 SF
Days on Market44
Property Features for 2329 Lomita Verde Dr
General Information
Standard status
Pending
Size
1,464 SF
Property subtype
Residential Income
Listing Agency:
Keller Williams Realty
(661) 706-2477
Listed By:
Jessica J. Self
(661) 706-2477
Source:
Exprealty
Added: Jul 16
Changed: Aug 21
Last Checked: Aug 28 at 12:53PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This duplex property at 2329 Lomita Verde Dr includes two separate living spaces on a single lot. The primary residence provides three bedrooms and one bathroom, while a detached garage has been converted into an additional one-bedroom, one-bath living area. The property measures 1,464 square feet overall, and the main home has a new roof and new A/C unit.
The property is near Garces Memorial High School, with schools, shopping, parks, and restaurants also located nearby. Its two-residence configuration offers distinct living areas within one property, with the detached unit providing additional space for household, guest, office, or other uses described in the source information.
The property is near Garces Memorial High School, with schools, shopping, parks, and restaurants also located nearby. Its two-residence configuration offers distinct living areas within one property, with the detached unit providing additional space for household, guest, office, or other uses described in the source information.
Key Highlights
- Two separate living spaces on one lot
- Main residence includes 3 bedrooms and 1 bathroom
- Detached garage converted to a 1‑bedroom, 1‑bath living area
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
$18,972
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
5.84%
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%
$379,440
$379.4K
Cap Rate 7%
$271,029
$271.0K
Cap Rate 9%
$210,800
$210.8K
Market Conditions
NOI Build-Up for 1,464 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
$29.0K $19.80/SF
− Vacancy
−$1.9K −$1.29/SF
EGI
$27.1K $18.51/SF
− OpEx
−$8.1K −$5.55/SF
NOI
$19.0K $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%
$379,440
Cap Rate 7%
$271,029
Cap Rate 9%
$210,800
Alternative Uses
Best Use
Multifamily LT 5
$271.0K
$237.2K – $316.2K
NOI $18,972 @ 7.0% cap · market cap 5.84%
Second Best
Apartment 5plus
$251.7K
$220.3K – $293.7K
NOI $17,620 @ 7.0% cap · market cap 5.42%
Theoretical Best
Office A
$388.5K
$339.9K – $453.3K
NOI $27,195 @ 7.0% cap · market cap 8.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
737
Businesses Nearby
Explore this area
Business Placement
Demographics for 93305, CA
38,392
Population
11,824
Households
3.2
Avg Household Size
29
Median Age
9%
College-Educated
64%
High-School Grad
5.8 sq mi
ZIP Area
6,619
Density / Sq Mi
$41,290
Median Household Income
$27,936
Median Earnings
$1,065
Median Rent
$245,000
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?
Duplex - Two distinct residences share one parcel, including a three-bedroom main home and a separate one-bedroom living area.
Where is this duplex located?
The property is located at 2329 Lomita Verde Dr Bakersfield, CA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two separate living spaces on one lot; Main residence includes 3 bedrooms and 1 bathroom; Detached garage converted to a 1‑bedroom, 1‑bath living area
