Duplex with Oversized Two-Car
For Sale
$420,000
2819 Monterey, Bakersfield, CA 93306
MULTI_FAMILY - Other - Bakersfield, CA
Property Size2,054 SF
Lot Size0.16 Acres
Price / SF$204.48
Days on Market13
Property Features for 2819 Monterey
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-2
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Kitchen, Bedroom 4, Bathroom 3, Bedroom 3, Bathroom 1, Laundry Room, Bathroom 4, Bedroom 1, Bedroom 6, Bedroom 5, Bedroom 2
Parking
2
Parking features
Covered, Carport, Driveway
Window features
Blinds
Patio and Porch features
Patio
Interior features
Bar, Dry Bar, Ceiling Fan(s), Formica Counters
Fencing
Chain Link
Appliances
Water Heater, Free-Standing Range
Lot features
Lot 6500-9999, Irregular Lot, Front Yard, Lawn, Yard
Elementary school district
Bakersfield City
Middle school district
Bakersfield City
High school district
Bakersfield City
Directions
East of Pentz St and West of Descanso
Subdivision
BKSF - Bakersfield
Standard status
Active
APN
13708025004
Size
2,054 SF
Lot size
0.16 Acres
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Forced Air, Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1982
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
RE/MAX One · RE/MAX International
(818) 366-3300
Listed By:
Michele Woods · License #01136007
(818) 219-2159
Added: Jul 31
Changed: Aug 11
Last Checked: Aug 12 at 3:06AM
MLS# SR26167950
Copyright © 2026 California Regional Multiple Listing Service, 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 duplex property offers two separate units in a frame structure built in 1982, supported by central forced air heat and central air conditioning. The configuration is described as each unit having three bedrooms and two bathrooms, while the tax assessor records each unit as two bedrooms and one bathroom. The interior includes tile flooring, ceiling fans, Formica counters, and a dry bar, along with a patio and chain link fencing. Utilities include electricity availability with public water and public sewer.
The seller reports the front unit was updated in 2024 due to a fire, stated as caused by an adjacent property and not by tenants. Outside, the front unit has a front yard and the rear unit has a side yard. Parking includes an oversized two-car carport, a long driveway, and street parking.
The property is zoned R-2 and sits on a 0.1643-acre lot with a total property size of 2,054 square feet.
The seller reports the front unit was updated in 2024 due to a fire, stated as caused by an adjacent property and not by tenants. Outside, the front unit has a front yard and the rear unit has a side yard. Parking includes an oversized two-car carport, a long driveway, and street parking.
The property is zoned R-2 and sits on a 0.1643-acre lot with a total property size of 2,054 square feet.
Key Highlights
- R‑2 duplex on a 0.1643‑acre lot
- Total property size of 2,054 square feet
- Front unit updated in 2024 due to a fire from an adjacent property
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
$26,903
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
6.41%
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%
$538,060
$538.1K
Cap Rate 7%
$384,329
$384.3K
Cap Rate 9%
$298,922
$298.9K
Market Conditions
NOI Build-Up for 2,054 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
$40.7K $19.80/SF
− Vacancy
−$2.2K −$1.09/SF
EGI
$38.4K $18.71/SF
− OpEx
−$11.5K −$5.61/SF
NOI
$26.9K $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%
$538,060
Cap Rate 7%
$384,329
Cap Rate 9%
$298,922
Alternative Uses
Best Use
Multifamily LT 5
$384.3K
$336.3K – $448.4K
NOI $26,903 @ 7.0% cap · market cap 6.41%
Second Best
Apartment 5plus
$345.2K
$302.0K – $402.7K
NOI $24,161 @ 7.0% cap · market cap 5.75%
Theoretical Best
Specialty Retail
$549.0K
$480.4K – $640.5K
NOI $38,432 @ 7.0% cap · market cap 9.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,315
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
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 - R-2 duplex on a 0.1643-acre lot with central HVAC, an oversized two-car carport, patio, and driveway plus street parking.
Where is this duplex located?
The property is located at 2819 Monterey Bakersfield, CA.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: R‑2 duplex on a 0.1643‑acre lot; Total property size of 2,054 square feet; Front unit updated in 2024 due to a fire from an adjacent property
