12-Unit Apartment
For Sale
$1,650,000
3017 Potomac Avenue, Bakersfield, CA 93307
Each residence features a three-bedroom, one-bath layout with dedicated on-site parking.
Property Size8,954 SF
Days on Market117
Property Features for 3017 Potomac Avenue
General Information
Standard status
Active
Size
8,954 SF
Total Parking Spaces
24
Property subtype
Multi Family Home
Units
Unit Mix
12 x 3BR/1BA
Multifamily Units
12
Additional Details
Highway Access
Yes
Amenities
fully fenced
Building Details
Building Size
8,954 SF
Year Built
2010
Stories
2
Units
12
Listing Agency:
Golden Valley Real Estate Group
(661) 477-3484
Listed By:
Roger V. Magana · License #01708253
(661) 477-3484
Source:
Coalingamidstaterealty
Added: Apr 13
Changed: Aug 5
Last Checked: Aug 6 at 12:50PM
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 Golden Valley Real Estate Group
Investment Insights
Based on property information with market context.
This multifamily property contains 12 apartments, each configured with three bedrooms and one bathroom. The property provides 24 parking spaces and is enclosed by fencing, adding a defined boundary around the site.
The property is located at 3017 Potomac Avenue in Bakersfield, California, near shopping centers, dining options, and major freeways. Its consistent unit layout offers a straightforward configuration across the apartment community.
The property is located at 3017 Potomac Avenue in Bakersfield, California, near shopping centers, dining options, and major freeways. Its consistent unit layout offers a straightforward configuration across the apartment community.
Key Highlights
- 12 apartment units with consistent three‑bedroom, one‑bathroom layouts
- 24 parking spaces included
- Fully fenced 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
$102,431
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
6.21%
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%
$2,048,620
$2.0M
Cap Rate 7%
$1,463,300
$1.5M
Cap Rate 9%
$1,138,122
$1.1M
Market Conditions
NOI Build-Up for 8,954 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
$197.7K $22.08/SF
− Vacancy
−$11.5K −$1.28/SF
EGI
$186.2K $20.80/SF
− OpEx
−$83.8K −$9.36/SF
NOI
$102.4K $11.44/SF
Area
ZIP 93307
Vacancy
5.80%
Lease Rate
$22.08 /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%
$2,048,620
Cap Rate 7%
$1,463,300
Cap Rate 9%
$1,138,122
Alternative Uses
Best Use
Apartment 5plus
$1.46M
$1.28M – $1.71M
NOI $102,431 @ 7.0% cap · market cap 6.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.21M
$1.94M – $2.58M
NOI $154,871 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
12
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
645
Businesses Nearby
Explore this area
Business Placement
Demographics for 93307, CA
88,338
Population
24,349
Households
3.6
Avg Household Size
29
Median Age
7%
College-Educated
59%
High-School Grad
141.2 sq mi
ZIP Area
626
Density / Sq Mi
$52,572
Median Household Income
$29,141
Median Earnings
$1,195
Median Rent
$238,400
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?
Apartment building - Each residence features a three-bedroom, one-bath layout with dedicated on-site parking.
Where is this apartment building located?
The property is located at 3017 Potomac Avenue Bakersfield, CA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 12 apartment units with consistent three‑bedroom, one‑bathroom layouts; 24 parking spaces included; Fully fenced property
