3-Unit Multifamily
New
For Sale
$350,000
2512 Niles, Bakersfield, CA 93306
All three residences are tenant occupied and distributed between two single-story structures.
Property Size1,976 SF
Days on Market2
Property Features for 2512 Niles
General Information
Standard status
Active
Size
1,976 SF
Property subtype
Investment
Building Details
Building Size
1,976 SF
Year Built
1950
Stories
1
Units
3
Listing Agency:
Keller Williams Realty SELA
Listed By:
Diana Carbajal · License #01732136
(562) 761-0585
Source:
Elliman
Added: Sep 26
Last Checked: Sep 26 at 3:04PM
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 SELA
Investment Insights
Based on property information with market context.
This 1950-built multifamily property comprises three residences in two single-story buildings. The standalone home has one bedroom and one bathroom; the other structure contains two units, configured as a two-bedroom, one-bathroom residence and a one-bedroom, one-bathroom residence. Together, the units provide four bedrooms on a 6,509-square-foot lot.
The property is at 2512 Niles in Bakersfield. Its Walk Score is 62, identified as somewhat walkable, and its Bike Score is 38, identified as somewhat bikeable.
The property is at 2512 Niles in Bakersfield. Its Walk Score is 62, identified as somewhat walkable, and its Bike Score is 38, identified as somewhat bikeable.
Key Highlights
- Three tenant‑occupied units across two single‑story buildings
- Unit mix: one 1‑bedroom/1‑bathroom standalone residence, plus 2‑bedroom/1‑bathroom and 1‑bedroom/1‑bathroom units
- Four bedrooms total on a 6,509‑square‑foot lot
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
$23,243
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
6.64%
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%
$464,860
$464.9K
Cap Rate 7%
$332,043
$332.0K
Cap Rate 9%
$258,256
$258.3K
Market Conditions
NOI Build-Up for 1,976 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
$44.6K $22.56/SF
− Vacancy
−$2.3K −$1.17/SF
EGI
$42.3K $21.39/SF
− OpEx
−$19.0K −$9.62/SF
NOI
$23.2K $11.76/SF
Area
ZIP 93306
Vacancy
5.20%
Lease Rate
$22.56 /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%
$464,860
Cap Rate 7%
$332,043
Cap Rate 9%
$258,256
Alternative Uses
Best Use
Apartment 5plus
$332.0K
$290.5K – $387.4K
NOI $23,243 @ 7.0% cap · market cap 6.64%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$528.2K
$462.2K – $616.2K
NOI $36,973 @ 7.0% cap · market cap 10.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,229
Businesses Nearby
Explore this area
Business Placement
Demographics for 93306, CA
74,623
Population
23,789
Households
3.1
Avg Household Size
32
Median Age
18%
College-Educated
77%
High-School Grad
97.3 sq mi
ZIP Area
767
Density / Sq Mi
$66,988
Median Household Income
$35,696
Median Earnings
$1,219
Median Rent
$290,700
Median Home Value
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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?
Multifamily property - All three residences are tenant occupied and distributed between two single-story structures.
Where is this multifamily property located?
The property is located at 2512 Niles Bakersfield, CA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Three tenant‑occupied units across two single‑story buildings; Unit mix: one 1‑bedroom/1‑bathroom standalone residence, plus 2‑bedroom/1‑bathroom and 1‑bedroom/1‑bathroom units; Four bedrooms total on a 6,509‑square‑foot lot
