24-Unit Apartment
New
For Sale
$5,520,000
2408 Gosford Rd, Bakersfield, CA 93309
A gated, multi-building property offers private garage parking and washer-dryer hookups for each resident.
Property Size30,096 SF
Lot Size1.44 Acres
Price / SF$183.41
Days on Market1
Property Features for 2408 Gosford Rd
General Information
Standard status
Active
Size
30,096 SF
Lot size
1.44 Acres
Property subtype
Multifamily
Units
Unit Mix
7 x 3BR/2.5BA, 17 x 2BR/2.5BA
Multifamily Units
24
Amenities
enclosed parking garage
washer/dryer hookups
gated
pool
Building Details
Buildings
6
Listing Agency:
Bakersfield
Listed By:
Jason Alexander · License #01360995
(661) 631-3818
Source:
Colliers
Added: Sep 24
Last Checked: Sep 24 at 1:52PM
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 Bakersfield
Investment Insights
Based on property information with market context.
The 24-unit apartment community spans 1.44 acres, with approximately 30,096 square feet across six buildings. Its mix includes seven three-bedroom, 2.5-bath units and seventeen two-bedroom, 2.5-bath units. Several apartments have updated kitchens, bathrooms, vinyl flooring, and carpet. Each unit has an enclosed garage with washer-dryer hookups, and the property is secured by perimeter fencing and automatic gates. A pool sits within a gated area at the center of the community.
Property improvements include a tile roof installed in 2005, exterior siding refurbishment and new rain gutters in 2021, driveway and parking lot work completed in 2022, and new automatic wrought-iron gates added in 2023. The pool was replastered in 2024. The property is located at 2408 Gosford Rd in Bakersfield’s southwest submarket.
Property improvements include a tile roof installed in 2005, exterior siding refurbishment and new rain gutters in 2021, driveway and parking lot work completed in 2022, and new automatic wrought-iron gates added in 2023. The pool was replastered in 2024. The property is located at 2408 Gosford Rd in Bakersfield’s southwest submarket.
Key Highlights
- 24 units across six buildings, totaling approximately 30,096 square feet
- 1.44‑acre parcel in Bakersfield’s southwest submarket
- Seven 3‑bedroom, 2.5‑bath units and seventeen 2‑bedroom, 2.5‑bath units
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
$362,228
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
6.56%
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%
$7,244,560
$7.2M
Cap Rate 7%
$5,174,686
$5.2M
Cap Rate 9%
$4,024,756
$4.0M
Market Conditions
NOI Build-Up for 30,096 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
$700.6K $23.28/SF
− Vacancy
−$42.0K −$1.40/SF
EGI
$658.6K $21.88/SF
− OpEx
−$296.4K −$9.85/SF
NOI
$362.2K $12.04/SF
Area
Bakersfield, CA
Vacancy
6.00%
Lease Rate
$23.28 /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%
$7,244,560
Cap Rate 7%
$5,174,686
Cap Rate 9%
$4,024,756
Alternative Uses
Best Use
Apartment 5plus
$5.17M
$4.53M – $6.04M
NOI $362,228 @ 7.0% cap · market cap 6.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.99M
$6.99M – $9.32M
NOI $559,063 @ 7.0% cap · market cap 10.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
24
Residential units
Location Intelligence
Trade Area within ½ mile
285
Businesses Nearby
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Business Placement
Demographics for 93309, CA
61,079
Population
23,546
Households
2.6
Avg Household Size
33
Median Age
20%
College-Educated
83%
High-School Grad
10.5 sq mi
ZIP Area
5,817
Density / Sq Mi
$62,143
Median Household Income
$36,281
Median Earnings
$1,268
Median Rent
$286,600
Median Home Value
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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?
Apartment building - A gated, multi-building property offers private garage parking and washer-dryer hookups for each resident.
Where is this apartment building located?
The property is located at 2408 Gosford Rd Bakersfield, CA.
What is the asking price?
The asking price for this property is $5,520,000.
What are key features of this property?
This property features: 24 units across six buildings, totaling approximately 30,096 square feet; 1.44‑acre parcel in Bakersfield’s southwest submarket; Seven 3‑bedroom, 2.5‑bath units and seventeen 2‑bedroom, 2.5‑bath units
