4-Unit Multifamily
For Sale
$475,000
308 Chester, Bakersfield, CA 93301
The unit mix combines two studios with two-bedroom residences, plus garage parking and laundry hookups.
Property Size2,444 SF
Days on Market20
Property Features for 308 Chester
General Information
Standard status
Active
Size
2,444 SF
Property subtype
Investment
Building Details
Building Size
2,444 SF
Year Built
1939
Stories
1
Units
4
Listing Agency:
eXp Realty of Greater Los Angeles, Inc.
Listed By:
Veronica Alcazar · License #01254201
(661) 250-0710
Source:
Elliman
Added: Sep 26
Changed: Oct 13
Last Checked: Oct 15 at 1:49AM
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 Greater Los Angeles, Inc.
Investment Insights
Based on property information with market context.
This 1939 multifamily property contains four residences across a front triplex and a detached rear home. The triplex has two studio apartments and a two-bedroom, one-bath unit. The rear residence also offers two bedrooms and one bath, along with a private balcony. Two 2-car garages and laundry hookups near the garages serve the property.
Interior work includes a 2026 update to Unit 312, with LVT flooring and remodeled kitchen cabinetry, and new LVT flooring in one studio during 2026. Unit 308 was remodeled in 2022 with granite countertops and LVT flooring. Window A/C units throughout the property were replaced within approximately the past two years.
The property is at 308 Chester in Bakersfield. Its walk score is 57, bike score is 47, and transit score is 34.
Interior work includes a 2026 update to Unit 312, with LVT flooring and remodeled kitchen cabinetry, and new LVT flooring in one studio during 2026. Unit 308 was remodeled in 2022 with granite countertops and LVT flooring. Window A/C units throughout the property were replaced within approximately the past two years.
The property is at 308 Chester in Bakersfield. Its walk score is 57, bike score is 47, and transit score is 34.
Key Highlights
- Four residences on one parcel: a front triplex and detached rear home
- Unit mix includes two studios and two 2‑bedroom / 1‑bath residences
- Two 2‑car garages and laundry hookups near the garages
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,415
Cap Rate
6.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$588,300
$588.3K
Cap Rate 7%
$420,214
$420.2K
Cap Rate 9%
$326,833
$326.8K
Market Conditions
NOI Build-Up for 2,444 SF
Gross rent
$56.9K $23.28/SF
− Vacancy
−$3.4K −$1.40/SF
EGI
$53.5K $21.88/SF
− OpEx
−$24.1K −$9.85/SF
NOI
$29.4K $12.04/SF
Area
Bakersfield, CA
Vacancy
6.00%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$588,300
Cap Rate 7%
$420,214
Cap Rate 9%
$326,833
Alternative Uses
Best Use
Apartment 5plus
$420.2K
$367.7K – $490.3K
NOI $29,415 @ 7.0% cap · market cap 6.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$648.6K
$567.5K – $756.7K
NOI $45,400 @ 7.0% cap · market cap 9.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
769
Businesses Nearby
Explore this area
Business Placement
Demographics for 93301, CA
14,518
Population
6,202
Households
2.3
Avg Household Size
33
Median Age
20%
College-Educated
83%
High-School Grad
4.3 sq mi
ZIP Area
3,376
Density / Sq Mi
$40,725
Median Household Income
$36,623
Median Earnings
$1,129
Median Rent
$264,300
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?
Multifamily property - The unit mix combines two studios with two-bedroom residences, plus garage parking and laundry hookups.
Where is this multifamily property located?
The property is located at 308 Chester Bakersfield, CA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Four residences on one parcel: a front triplex and detached rear home; Unit mix includes two studios and two 2‑bedroom / 1‑bath residences; Two 2‑car garages and laundry hookups near the garages
