Two-Story
For Sale
$695,000
2801 Morin Ct, Bakersfield, CA 93304
Four-unit residential property with three occupied units and one unit configured for seasonal rental use.
Property Size3,410 SF
Lot Size0.19 Acres
Days on Market49
Property Features for 2801 Morin Ct
General Information
Standard status
Active
Size
3,410 SF
Lot size
0.19 Acres
Property subtype
Investment
Occupancy
75%
Additional Details
Furnished
No
Multifamily Units
4
Building Details
Building Size
3,410 SF
Year Built
1985
Buildings
1
Stories
2
Units
4
Listing Agency:
eXp Realty of California, Inc.
Listed By:
Rockie Mitchell · License #01710122
(818) 693-2173
Source:
Elliman
Added: Aug 28
Changed: Oct 14
Last Checked: Oct 15 at 2:04AM
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 eXp Realty of California, Inc.
Investment Insights
Based on property information with market context.
Built in 1985, this two-level quadplex contains four residential units on an 8,079 sq ft lot positioned along a cul-de-sac. Three units are occupied by established tenants, while the remaining unit has been furnished and operated as a seasonal rental. That unit may also be used for a traditional tenancy or owner occupancy. Furniture is excluded from the sale, although its purchase may be negotiated separately.
The property is in Southwest Bakersfield's Wible Orchard neighborhood, south of downtown Bakersfield. Three shopping centers are within 0.8 miles, with dining options along New Stine Road and California Avenue. Nearby parks, Cal State Bakersfield, and Bakersfield College add to the surrounding neighborhood context. WalkScore is 58, BikeScore is 43, and TransitScore is 42.
The property is in Southwest Bakersfield's Wible Orchard neighborhood, south of downtown Bakersfield. Three shopping centers are within 0.8 miles, with dining options along New Stine Road and California Avenue. Nearby parks, Cal State Bakersfield, and Bakersfield College add to the surrounding neighborhood context. WalkScore is 58, BikeScore is 43, and TransitScore is 42.
Key Highlights
- 4‑unit quadplex built in 1985
- Three of 4 units occupied by established tenants
- One unit has been used as a seasonal rental
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,191
Cap Rate
6.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$883,820
$883.8K
Cap Rate 7%
$631,300
$631.3K
Cap Rate 9%
$491,011
$491.0K
Market Conditions
NOI Build-Up for 3,410 SF
Gross rent
$67.5K $19.80/SF
− Vacancy
−$4.4K −$1.29/SF
EGI
$63.1K $18.51/SF
− OpEx
−$18.9K −$5.55/SF
NOI
$44.2K $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 Rate 5%
$883,820
Cap Rate 7%
$631,300
Cap Rate 9%
$491,011
Alternative Uses
Best Use
Multifamily LT 5
$631.3K
$552.4K – $736.5K
NOI $44,191 @ 7.0% cap · market cap 6.36%
Second Best
Apartment 5plus
$586.3K
$513.0K – $684.0K
NOI $41,042 @ 7.0% cap · market cap 5.91%
Theoretical Best
Office A
$904.9K
$791.8K – $1.06M
NOI $63,344 @ 7.0% cap · market cap 9.11%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
4
Residential units
75%
Occupancy
Location Intelligence
Trade Area within ½ mile
442
Businesses Nearby
Explore this area
Business Placement
Demographics for 93304, CA
50,837
Population
16,380
Households
3.1
Avg Household Size
31
Median Age
11%
College-Educated
71%
High-School Grad
7.5 sq mi
ZIP Area
6,778
Density / Sq Mi
$51,627
Median Household Income
$31,562
Median Earnings
$1,141
Median Rent
$228,800
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?
Quadplex - Four-unit residential property with three occupied units and one unit configured for seasonal rental use.
Where is this quadplex located?
The property is located at 2801 Morin Ct Bakersfield, CA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 4‑unit quadplex built in 1985; Three of 4 units occupied by established tenants; One unit has been used as a seasonal rental
