Four-Unit Residential Income
For Sale
$615,000
3418 N Chester Avenue, Bakersfield, CA 93308
MULTI_FAMILY - Bakersfield, CA
Property Size3,360 SF
Lot Size0.21 Acres
Price / SF$183.04
Days on Market49
Property Features for 3418 N Chester Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Covered
Elementary school
Highland
Middle school
Standard
High school
North
Elementary school district
Standard
Subdivision
21
Standard status
Active
APN
11729001
Size
3,360 SF
Lot size
0.21 Acres
Building Details
Year built
1967
Floors in Building
1
Number of units
4
Listing Agency:
Stockdale Real Estate Group
(661) 377-3800
Listed By:
Dominic V Antongiovanni
(661) 599-9886
Added: Jun 27
Changed: Jun 28
Last Checked: Aug 14 at 7:06AM
MLS# 202606930
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 four-unit residential income property offers four separate two-bedroom, one-bath units. Each unit has its own HVAC system, supporting independent heating and cooling for occupants. According to the seller, two of the HVAC systems were replaced within the last two years. In addition, three units were refurbished within the last two years.
The property is located at 3418 N Chester Avenue in Bakersfield, California 93308, within Kern County. The lot size is listed as 0.21 acres, and the property size is listed as 3,360 square feet.
For buyers seeking a small multifamily asset, the current tenant occupancy is a practical consideration, with all four units noted as having tenants in place. Because tenants are currently there, showings require coordination with the agent, and access should be arranged in advance with a Do Not Disturb instruction for occupants.
The property is located at 3418 N Chester Avenue in Bakersfield, California 93308, within Kern County. The lot size is listed as 0.21 acres, and the property size is listed as 3,360 square feet.
For buyers seeking a small multifamily asset, the current tenant occupancy is a practical consideration, with all four units noted as having tenants in place. Because tenants are currently there, showings require coordination with the agent, and access should be arranged in advance with a Do Not Disturb instruction for occupants.
Key Highlights
- All four units currently have tenants in place, creating immediate rental occupancy
- Four‑unit property with 2 bedrooms and 1 bath in each unit
- Each unit has its own HVAC system
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
$43,543
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
7.08%
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%
$870,860
$870.9K
Cap Rate 7%
$622,043
$622.0K
Cap Rate 9%
$483,811
$483.8K
Market Conditions
NOI Build-Up for 3,360 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
$66.5K $19.80/SF
− Vacancy
−$4.3K −$1.29/SF
EGI
$62.2K $18.51/SF
− OpEx
−$18.7K −$5.55/SF
NOI
$43.5K $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%
$870,860
Cap Rate 7%
$622,043
Cap Rate 9%
$483,811
Alternative Uses
Best Use
Multifamily LT 5
$622.0K
$544.3K – $725.7K
NOI $43,543 @ 7.0% cap · market cap 7.08%
Second Best
Apartment 5plus
$577.7K
$505.5K – $674.0K
NOI $40,440 @ 7.0% cap · market cap 6.58%
Theoretical Best
Office A
$891.6K
$780.2K – $1.04M
NOI $62,415 @ 7.0% cap · market cap 10.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
357
Businesses Nearby
Explore this area
Business Placement
Demographics for 93308, CA
56,037
Population
21,443
Households
2.6
Avg Household Size
35
Median Age
18%
College-Educated
84%
High-School Grad
344.6 sq mi
ZIP Area
163
Density / Sq Mi
$59,511
Median Household Income
$39,676
Median Earnings
$1,260
Median Rent
$298,000
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?
Quadplex - Four tenant-occupied two-bedroom, one-bath units each with its own HVAC system.
Where is this quadplex located?
The property is located at 3418 N Chester Avenue Bakersfield, CA.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: All four units currently have tenants in place, creating immediate rental occupancy; Four‑unit property with 2 bedrooms and 1 bath in each unit; Each unit has its own HVAC system
