Two-Unit Duplex with Covered
New
For Sale
$325,000
2528 Security Avenue, Bakersfield, CA 93306
Residential Income, Bakersfield, CA
Property Size1,904 SF
Lot Size0.15 Acres
Price / SF$170.69
Days on Market2
Property Features for 2528 Security Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Covered
Elementary school
Mann, Horace
Middle school
Compton
High school
East
Subdivision
32
Standard status
Active
APN
13721015
Size
1,904 SF
Lot size
0.15 Acres
Amenities
central heat and air
ceiling fans
indoor washer/dryer hookups
Building Details
Year built
1977
Floors in Building
1
Number of units
2
Listing Agency:
Keller Williams Realty
(661) 617-6500
Listed By:
Phil M Jordan
(805) 453-8353
Added: Sep 22
Last Checked: Sep 23 at 6:06AM
MLS# 202610177
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 1,904-square-foot duplex, built in 1977, contains two residential units with a matching two-bedroom, one-bathroom layout. Both units include central heat and air, ceiling fans, and indoor washer/dryer hookups. One residence is occupied by a long-term Section 8 tenant, while the other is vacant and ready for occupancy.
The property sits on a 0.1512-acre lot in an established East Bakersfield neighborhood and provides four off-street parking spaces, with covered parking listed among the site features. The property has remained under the same ownership for more than 20 years. Unit A has been identified with a $1,350 market rent, while Unit B is leased to the existing Section 8 tenant.
The property sits on a 0.1512-acre lot in an established East Bakersfield neighborhood and provides four off-street parking spaces, with covered parking listed among the site features. The property has remained under the same ownership for more than 20 years. Unit A has been identified with a $1,350 market rent, while Unit B is leased to the existing Section 8 tenant.
Key Highlights
- 1,904‑square‑foot duplex on a 0.1512‑acre lot
- Two units, each with 2BR/1BA configuration
- Unit B leased to a long‑term Section 8 tenant
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
$24,938
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
7.67%
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%
$498,760
$498.8K
Cap Rate 7%
$356,257
$356.3K
Cap Rate 9%
$277,089
$277.1K
Market Conditions
NOI Build-Up for 1,904 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
$37.7K $19.80/SF
− Vacancy
−$2.1K −$1.09/SF
EGI
$35.6K $18.71/SF
− OpEx
−$10.7K −$5.61/SF
NOI
$24.9K $13.10/SF
Area
ZIP 93306
Vacancy
5.50%
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%
$498,760
Cap Rate 7%
$356,257
Cap Rate 9%
$277,089
Alternative Uses
Best Use
Multifamily LT 5
$356.3K
$311.7K – $415.6K
NOI $24,938 @ 7.0% cap · market cap 7.67%
Second Best
Apartment 5plus
$319.9K
$280.0K – $373.3K
NOI $22,396 @ 7.0% cap · market cap 6.89%
Theoretical Best
Specialty Retail
$508.9K
$445.3K – $593.8K
NOI $35,626 @ 7.0% cap · market cap 10.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
717
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes two bedrooms, one bathroom, central heat and air, ceiling fans, and indoor laundry hookups.
Where is this duplex located?
The property is located at 2528 Security Avenue 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: 1,904‑square‑foot duplex on a 0.1512‑acre lot; Two units, each with 2BR/1BA configuration; Unit B leased to a long‑term Section 8 tenant
