Remodeled Duplex with Studio
For Sale
$299,900
314 Monterey Street, Bakersfield, CA 93305
Residential Income, Bakersfield, CA
Property Size1,865 SF
Lot Size0.17 Acres
Price / SF$160.80
Days on Market66
Property Features for 314 Monterey Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
2
Parking features
Covered
Elementary school
Longfellow
Middle school
Washington
High school
Bakersfield
Subdivision
32
Standard status
Active
APN
01406017
Lot size
0.17 Acres
Building Details
Year built
1981
Floors in Building
1
Number of units
2
Listing Agency:
Keller Williams Realty
(661) 617-6500
Listed By:
Ian A Mellon
(661) 805-2481
Added: Jun 24
Changed: Aug 26
Last Checked: Aug 28 at 11:06PM
MLS# 202606854
Copyright © 2026 Golden Empire MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1981 duplex includes a 1,350 SF front residence and a 515 SF rear studio ADU on a 0.17-acre lot. The front unit has two bedrooms, one bathroom, an indoor utility area, and a living room. The studio includes a living area, sleeping area, kitchenette, bathroom, and a private indoor utility space for a washer and dryer. Both units have been remodeled with modern finishes, black fixtures, and white dolomite countertops.
Each residence has separate access and dedicated parking, while covered parking is also listed among the property features. The building operates from one electrical meter and includes a new solar system designed to offset 100% of electrical usage. The property is located at 314 Monterey Street in Bakersfield, California, within Kern County.
Each residence has separate access and dedicated parking, while covered parking is also listed among the property features. The building operates from one electrical meter and includes a new solar system designed to offset 100% of electrical usage. The property is located at 314 Monterey Street in Bakersfield, California, within Kern County.
Key Highlights
- 1,350 SF front unit with 2 bedrooms and 1 bathroom
- 515 SF rear studio ADU with kitchenette and bathroom
- Both units remodeled with modern finishes and white dolomite countertops
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
$24,169
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
8.06%
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%
$483,380
$483.4K
Cap Rate 7%
$345,271
$345.3K
Cap Rate 9%
$268,544
$268.5K
Market Conditions
NOI Build-Up for 1,865 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
$36.9K $19.80/SF
− Vacancy
−$2.4K −$1.29/SF
EGI
$34.5K $18.51/SF
− OpEx
−$10.4K −$5.55/SF
NOI
$24.2K $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%
$483,380
Cap Rate 7%
$345,271
Cap Rate 9%
$268,544
Alternative Uses
Best Use
Multifamily LT 5
$345.3K
$302.1K – $402.8K
NOI $24,169 @ 7.0% cap · market cap 8.06%
Second Best
Apartment 5plus
$320.7K
$280.6K – $374.1K
NOI $22,447 @ 7.0% cap · market cap 7.48%
Theoretical Best
Office A
$494.9K
$433.1K – $577.4K
NOI $34,644 @ 7.0% cap · market cap 11.55%
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
983
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 accessed units provide dedicated parking, indoor laundry areas, and flexible occupancy options.
Where is this duplex located?
The property is located at 314 Monterey Street Bakersfield, CA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 1,350 SF front unit with 2 bedrooms and 1 bathroom; 515 SF rear studio ADU with kitchenette and bathroom; Both units remodeled with modern finishes and white dolomite countertops
