Updated Duplex with
For Sale
$129,900
239 Station, Ridgecrest, CA 93555
Multi Family, Ridgecrest, CA
Property Size800 SF
Lot Size0.12 Acres
Price / SF$162.38
Days on Market11
Property Features for 239 Station
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Duplex
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Interior features
Flooring- Vinyl
Appliances
Oven/Range, Refrigerator, W/D Hookups
Lot features
Curb & Gutter, Fenced- Partial, Patio- Covered, Storage Shed
Directions
From Ridgecrest Blvd head North on Alvord, East on Station
Subdivision
North West
Standard status
Active
APN
067-140-36
Size
800 SF
Lot size
0.12 Acres
Utilities
Heating system
Wall Furnace
Cooling system
Evaporative Cooling
Amenities
washer/dryer hookups
fenced yard
Building Details
Year built
1944
Number of units
2
Roof type
Metal
Listing Agency:
TNT Western Homes Inc.
(760) 384-0000
Listed By:
Sara Rizzardini · License #01460361
(760) 384-0000
Added: Aug 14
Changed: Aug 19
Last Checked: Aug 24 at 2:06PM
MLS# 2608827
Copyright © 2026 Southern Sierra MLS. 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 contains two separate studio units on a 0.12-acre lot, with 800 square feet of property size and a third structure currently used for storage. The building dates to 1944 and has a metal roof, wall-furnace heating, evaporative cooling, vinyl flooring, and washer and dryer hookups for stacked units. Each residence has a bathroom, while the property includes a single water meter and separate electric and gas service.
The front unit received a kitchen renovation in 2021 with new cabinets, countertops, appliances, and flooring in the kitchen and living room. Its refrigerator was replaced in September 2024, and the bathroom was remodeled in 2025. Both roofs were replaced in 2024. The units are occupied under month-to-month leases, and current tenants have expressed interest in remaining long term. The fenced yard provides additional private exterior space. Interior inspection is required as a condition of offers, and tenant privacy should be respected.
The front unit received a kitchen renovation in 2021 with new cabinets, countertops, appliances, and flooring in the kitchen and living room. Its refrigerator was replaced in September 2024, and the bathroom was remodeled in 2025. Both roofs were replaced in 2024. The units are occupied under month-to-month leases, and current tenants have expressed interest in remaining long term. The fenced yard provides additional private exterior space. Interior inspection is required as a condition of offers, and tenant privacy should be respected.
Key Highlights
- Two separate studio units within an 800‑square‑foot duplex
- 0.12‑acre lot with a small fenced yard area
- Both roofs replaced in 2024
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
$9,985
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
7.69%
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%
$199,700
$199.7K
Cap Rate 7%
$142,643
$142.6K
Cap Rate 9%
$110,944
$110.9K
Market Conditions
NOI Build-Up for 800 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
$14.7K $18.36/SF
− Vacancy
−$423 −$0.53/SF
EGI
$14.3K $17.83/SF
− OpEx
−$4.3K −$5.35/SF
NOI
$10.0K $12.48/SF
Area
Kern County, CA
Vacancy
2.88%
Lease Rate
$18.36 /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%
$199,700
Cap Rate 7%
$142,643
Cap Rate 9%
$110,944
Alternative Uses
Best Use
Multifamily LT 5
$142.6K
$124.8K – $166.4K
NOI $9,985 @ 7.0% cap · market cap 7.69%
Second Best
Apartment 5plus
$131.7K
$115.2K – $153.6K
NOI $9,216 @ 7.0% cap · market cap 7.09%
Theoretical Best
Warehouse
$170.9K
$149.5K – $199.4K
NOI $11,963 @ 7.0% cap · market cap 9.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
701
Businesses Nearby
Explore this area
Business Placement
Demographics for 93555, CA
32,810
Population
14,401
Households
2.3
Avg Household Size
37
Median Age
31%
College-Educated
91%
High-School Grad
78.1 sq mi
ZIP Area
420
Density / Sq Mi
$84,141
Median Household Income
$50,198
Median Earnings
$1,180
Median Rent
$235,400
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 - Two studio residences include separate electric and gas service, plus a fenced outdoor area and stacked laundry hookups.
Where is this duplex located?
The property is located at 239 Station Ridgecrest, CA.
What is the asking price?
The asking price for this property is $129,900.
What are key features of this property?
This property features: Two separate studio units within an 800‑square‑foot duplex; 0.12‑acre lot with a small fenced yard area; Both roofs replaced in 2024
