Seven-Unit Multifamily
For Sale
$1,999,999
319 Holtby Rd, Bakersfield, CA 93304
Eight buildings on a spacious lot offer open parking and outdoor areas for residents.
Property Size4,866 SF
Lot Size0.60 Acres
Price / SF$411.02
Days on Market127
Property Features for 319 Holtby Rd
General Information
Standard status
Active
Size
4,866 SF
Lot size
0.60 Acres
Property subtype
Residential Income
Additional Details
Multifamily Units
7
Building Details
Year Built
1930
Buildings
8
Listing Agency:
Watson Realty
(661) 327-5161
Listed By:
Esteban Contreras · License #CA01975384
(661) 206-2447
Source:
Exprealty
Added: May 20
Changed: Sep 4
Last Checked: Sep 22 at 8:36PM
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 multifamily property includes 8 character-rich buildings containing 7 residential units and 4,866 square feet of living space. Built in 1930, the property sits on a 0.6-acre lot with substantial spacing between buildings, open parking, and outdoor areas for residents. The property is offered as-is, with offers subject to interior inspection.
Located in Bakersfield’s historic Oleander Tract, the property provides access to Roosevelt Elementary, Emerson Jr. High, and Bakersfield High School, along with nearby shopping, dining, and transit. Tenant privacy is requested, and prospective parties should not disturb the residents.
Located in Bakersfield’s historic Oleander Tract, the property provides access to Roosevelt Elementary, Emerson Jr. High, and Bakersfield High School, along with nearby shopping, dining, and transit. Tenant privacy is requested, and prospective parties should not disturb the residents.
Key Highlights
- 7 residential units across 8 buildings
- 4,866 square feet of living space on a 0.6‑acre lot
- Built in 1930
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
$58,566
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
2.93%
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%
$1,171,320
$1.2M
Cap Rate 7%
$836,657
$836.7K
Cap Rate 9%
$650,733
$650.7K
Market Conditions
NOI Build-Up for 4,866 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
$113.3K $23.28/SF
− Vacancy
−$6.8K −$1.40/SF
EGI
$106.5K $21.88/SF
− OpEx
−$47.9K −$9.85/SF
NOI
$58.6K $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 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%
$1,171,320
Cap Rate 7%
$836,657
Cap Rate 9%
$650,733
Alternative Uses
Best Use
Apartment 5plus
$836.7K
$732.1K – $976.1K
NOI $58,566 @ 7.0% cap · market cap 2.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,391 @ 7.0% cap · market cap 4.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
1,117
Businesses Nearby
Explore this area
Business Placement
Demographics for 93304, CA
50,837
Population
16,380
Households
3.1
Avg Household Size
31
Median Age
11%
College-Educated
71%
High-School Grad
7.5 sq mi
ZIP Area
6,778
Density / Sq Mi
$51,627
Median Household Income
$31,562
Median Earnings
$1,141
Median Rent
$228,800
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?
Multifamily property - Eight buildings on a spacious lot offer open parking and outdoor areas for residents.
Where is this multifamily property located?
The property is located at 319 Holtby Rd Bakersfield, CA.
What is the asking price?
The asking price for this property is $1,999,999.
What are key features of this property?
This property features: 7 residential units across 8 buildings; 4,866 square feet of living space on a 0.6‑acre lot; Built in 1930
