6-Unit Apartment
For Sale
$626,000
308 Orange Ave, Arvin, CA 93203
Six occupied residences are arranged across two adjoining parcels and offered together.
Property Size2,197 SF
Price / SF$284.93
Days on Market8
Property Features for 308 Orange Ave
General Information
Standard status
Active
Size
2,197 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
3 x studio, 2 x 1BR/1BA, 1 x 3BR/1BA
Multifamily Units
6
Additional Details
Gross Income
$66,600
Building Details
Buildings
2
Listing Agency:
Watson Realty
(661) 327-5161
Listed By:
Clint J. Bottoms
(661) 808-8152
Source:
Exprealty
Added: Sep 23
Changed: Sep 28
Last Checked: Sep 29 at 10:18AM
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 Watson Realty
Investment Insights
Based on property information with market context.
This six-unit apartment property comprises two triplexes on adjoining parcels at 302 and 308 Orange Ave in Arvin. The 302 Orange Ave building has one studio and two 1-bedroom, 1-bathroom units. At 308 Orange Ave, the mix is one 3-bedroom, 1-bathroom unit and two studios. All six residences are occupied under flexible month-to-month terms. The parcels are being sold as a single package. An additional unit may be possible at 302 Orange Ave, subject to buyer due diligence and applicable permitting.
Key Highlights
- Six occupied apartments across two adjoining parcels
- 302 Orange Ave: one studio and two 1‑bedroom, 1‑bathroom units
- 308 Orange Ave: one 3‑bedroom, 1‑bathroom unit and two studios
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
$25,310
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
4.04%
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%
$506,200
$506.2K
Cap Rate 7%
$361,571
$361.6K
Cap Rate 9%
$281,222
$281.2K
Market Conditions
NOI Build-Up for 2,197 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
$47.5K $21.60/SF
− Vacancy
−$1.4K −$0.65/SF
EGI
$46.0K $20.95/SF
− OpEx
−$20.7K −$9.43/SF
NOI
$25.3K $11.52/SF
Area
Kern County, CA
Vacancy
3.03%
Lease Rate
$21.60 /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%
$506,200
Cap Rate 7%
$361,571
Cap Rate 9%
$281,222
Alternative Uses
Best Use
Apartment 5plus
$361.6K
$316.4K – $421.8K
NOI $25,310 @ 7.0% cap · market cap 4.04%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$469.3K
$410.7K – $547.6K
NOI $32,854 @ 7.0% cap · market cap 5.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
388
Businesses Nearby
Explore this area
Business Placement
Demographics for 93203, CA
20,777
Population
5,005
Households
4.2
Avg Household Size
27
Median Age
4%
College-Educated
45%
High-School Grad
172.0 sq mi
ZIP Area
121
Density / Sq Mi
$49,918
Median Household Income
$28,103
Median Earnings
$1,086
Median Rent
$247,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Apartment building - Six occupied residences are arranged across two adjoining parcels and offered together.
Where is this apartment building located?
The property is located at 308 Orange Ave Arvin, CA.
What is the asking price?
The asking price for this property is $626,000.
What are key features of this property?
This property features: Six occupied apartments across two adjoining parcels; 302 Orange Ave: one studio and two 1‑bedroom, 1‑bathroom units; 308 Orange Ave: one 3‑bedroom, 1‑bathroom unit and two studios
