Multifamily
For Sale
$600,000
3029 Potomac Ave, Bakersfield, CA 93307
Interior updates completed approximately two years ago complement an established rental-income stream.
Property Size2,250 SF
Price / SF$266.67
Days on Market22
Property Features for 3029 Potomac Ave
General Information
Standard status
Active
Size
2,250 SF
Property subtype
Residential Income
Listing Agency:
Broker X
(661) 238-0060
Listed By:
Rebecca Guardado
(661) 869-0059
Source:
Exprealty
Added: Sep 24
Changed: Oct 13
Last Checked: Oct 13 at 2:22AM
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 Broker X
Investment Insights
Based on property information with market context.
This multifamily property has remodeled interiors, with the work completed approximately two years ago. The asset has established rental income in place, offering an existing operating history for a prospective owner.
Key Highlights
- Interior remodeling completed approximately two years ago
- Established rental income
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,739
Cap Rate
4.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$514,780
$514.8K
Cap Rate 7%
$367,700
$367.7K
Cap Rate 9%
$285,989
$286.0K
Market Conditions
NOI Build-Up for 2,250 SF
Gross rent
$49.7K $22.08/SF
− Vacancy
−$2.9K −$1.28/SF
EGI
$46.8K $20.80/SF
− OpEx
−$21.1K −$9.36/SF
NOI
$25.7K $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 Rate 5%
$514,780
Cap Rate 7%
$367,700
Cap Rate 9%
$285,989
Alternative Uses
Best Use
Apartment 5plus
$367.7K
$321.7K – $429.0K
NOI $25,739 @ 7.0% cap · market cap 4.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$556.0K
$486.5K – $648.6K
NOI $38,917 @ 7.0% cap · market cap 6.49%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
184
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
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
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Frequently Asked Questions
What type of property is this?
Multifamily property - Interior updates completed approximately two years ago complement an established rental-income stream.
Where is this multifamily property located?
The property is located at 3029 Potomac Ave Bakersfield, CA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Interior remodeling completed approximately two years ago; Established rental income
