Multi-Building Apartment
For Sale
$1,999,999
319 Holtby Road, Bakersfield, CA 93304
Residential Income, Bakersfield, CA
Property Size4,866 SF
Lot Size0.60 Acres
Price / SF$411.02
Days on Market95
Property Features for 319 Holtby Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
8
Parking features
Garage, Carport
Elementary school
Roosevelt_Bak
Middle school
Emerson
High school
Bakersfield
Subdivision
10
Standard status
Active
APN
00818213
Size
4,866 SF
Lot size
0.60 Acres
Building Details
Year built
1930
Floors in Building
1
Number of units
7
Listing Agency:
Watson Realty
(661) 327-5161
Listed By:
Esteban Contreras · License #CA01975384
(661) 617-0074
Added: May 20
Changed: Aug 19
Last Checked: Aug 22 at 6:06PM
MLS# 202605510
Copyright © 2026 Bakersfield Association of Realtors. 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 multi-building apartment community features eight character-rich residential buildings totaling seven units and 4,866 sq ft of living space. The property is situated on a 0.6-acre lot (26,136 sq ft) designed to provide spacing between units, along with ample open parking and outdoor space for tenants. Built in 1930, the complex is offered as-is.
Parking is supported by garage and carport features. The property is located on Holtby Road in Bakersfield, with easy access to local schools including Roosevelt Elementary, Emerson Jr. High, and Bakersfield High School, along with shopping, dining, and transit.
Offers are to be made subject to interior inspection; please do not disturb the tenants.
Parking is supported by garage and carport features. The property is located on Holtby Road in Bakersfield, with easy access to local schools including Roosevelt Elementary, Emerson Jr. High, and Bakersfield High School, along with shopping, dining, and transit.
Offers are to be made subject to interior inspection; please do not disturb the tenants.
Key Highlights
- Eight residential buildings on a 0.6‑acre lot (26,136 sq ft)
- Seven units total with 4,866 sq ft of living space
- 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
Property Profile
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 1930-built multi-building apartment community with seven units and garage and carport parking on a large lot.
Where is this apartment building located?
The property is located at 319 Holtby Road 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: Eight residential buildings on a 0.6‑acre lot (26,136 sq ft); Seven units total with 4,866 sq ft of living space; Built in 1930
