2-Unit Duplex with Separate
For Sale
$319,900
2912 Kentucky St, Bakersfield, CA 93305
Two separately metered residences provide distinct utility management for the property owner.
Property Size1,373 SF
Price / SF$232.99
Days on Market18
Property Features for 2912 Kentucky St
General Information
Standard status
Active
Size
1,373 SF
Property subtype
Residential Income
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Listing Agency:
Executive, REALTORS
(661) 889-3201
Listed By:
Felix C. Diaz · License #01981655
(661) 889-3201
Source:
Exprealty
Added: Aug 11
Changed: Aug 21
Last Checked: Aug 26 at 12:01PM
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 Executive, REALTORS
Investment Insights
Based on property information with market context.
This Bakersfield duplex includes two separate residences on one lot with a combined 1,373 SF. The front unit is vacant and measures approximately 860 SF, with two bedrooms and one bathroom. The rear residence contains approximately 513 SF and also provides two bedrooms and one bathroom. Both units are separately metered for electricity and gas, supporting straightforward utility allocation between the residences.
Located at 2912 Kentucky St in Bakersfield, CA 93305, the property offers a two-unit residential configuration with one residence currently unoccupied. The front unit may be leased or otherwise repositioned by the new owner, while the existing layout provides separate living spaces within a single property.
Located at 2912 Kentucky St in Bakersfield, CA 93305, the property offers a two-unit residential configuration with one residence currently unoccupied. The front unit may be leased or otherwise repositioned by the new owner, while the existing layout provides separate living spaces within a single property.
Key Highlights
- Two separate residences occupy one lot
- Combined property size of 1,373 SF
- Front residence: approximately 860 SF with 2 bedrooms and 1 bathroom
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
$17,793
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
5.56%
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%
$355,860
$355.9K
Cap Rate 7%
$254,186
$254.2K
Cap Rate 9%
$197,700
$197.7K
Market Conditions
NOI Build-Up for 1,373 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
$27.2K $19.80/SF
− Vacancy
−$1.8K −$1.29/SF
EGI
$25.4K $18.51/SF
− OpEx
−$7.6K −$5.55/SF
NOI
$17.8K $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 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%
$355,860
Cap Rate 7%
$254,186
Cap Rate 9%
$197,700
Alternative Uses
Best Use
Multifamily LT 5
$254.2K
$222.4K – $296.6K
NOI $17,793 @ 7.0% cap · market cap 5.56%
Second Best
Apartment 5plus
$236.1K
$206.6K – $275.4K
NOI $16,525 @ 7.0% cap · market cap 5.17%
Theoretical Best
Office A
$364.4K
$318.8K – $425.1K
NOI $25,505 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
378
Businesses Nearby
Explore this area
Business Placement
Demographics for 93305, CA
38,392
Population
11,824
Households
3.2
Avg Household Size
29
Median Age
9%
College-Educated
64%
High-School Grad
5.8 sq mi
ZIP Area
6,619
Density / Sq Mi
$41,290
Median Household Income
$27,936
Median Earnings
$1,065
Median Rent
$245,000
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 - Two separately metered residences provide distinct utility management for the property owner.
Where is this duplex located?
The property is located at 2912 Kentucky St Bakersfield, CA.
What is the asking price?
The asking price for this property is $319,900.
What are key features of this property?
This property features: Two separate residences occupy one lot; Combined property size of 1,373 SF; Front residence: approximately 860 SF with 2 bedrooms and 1 bathroom
