Building Details

Year built 1914

Floors in Building 1

Number of units 2

Listing Agency: New Generation Real Estate Group j***@gottahouse.com Show Phone

Listed By: Terri M Garcia Show Phone

Added: May 6 Changed: Aug 4 Last Checked: Aug 6 at 5:06PM

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MLS# 202605073

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 duplex property includes two homes situated on a single 21,344 sq. ft. lot. The property records identify 1,523 square feet of property size, with covered parking available. Built in 1914, the asset offers a two-home configuration within Wasco’s residential market.

Located at 374 Broadway Street in Wasco, the property is occupied by tenants. Showing access requires three days’ notice, supporting advance coordination for inspections and private viewings.

Key Highlights

• Two homes located on one lot
• 21,344 sq. ft. lot
• 1,523 square feet of reported property size

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

$19,010

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

6.56%

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%

$380,200 $380.2K

Cap Rate 7%

$271,571 $271.6K

Cap Rate 9%

$211,222 $211.2K

Market Conditions

NOI Build-Up for 1,523 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

$28.0K $18.36/SF

− Vacancy

−$805 −$0.53/SF

EGI

$27.2K $17.83/SF

− OpEx

−$8.1K −$5.35/SF

NOI

$19.0K $12.48/SF

Area

Kern County, CA

Vacancy

2.88%

Lease Rate

$18.36 /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%

$380,200

Cap Rate 7%

$271,571

Cap Rate 9%

$211,222

Alternative Uses

Best Use

Multifamily LT 5

$271.6K

$237.6K – $316.8K (±1% cap)

NOI $19,010 @ 7.0% cap · market cap 6.56%

Second Best

Apartment 5plus

$250.6K

$219.3K – $292.4K (±1% cap)

NOI $17,545 @ 7.0% cap · market cap 6.05%

Theoretical Best

Warehouse

$325.4K

$284.7K – $379.6K (±1% cap)

NOI $22,775 @ 7.0% cap · market cap 7.85%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Duplexes

Suggested Use

Top Pick Law Firm Real Estate Agency Parking Lot & Garage HVAC Service Plumbing Service Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

494

Businesses Nearby

Explore this area Business Placement

Demographics for 93280, CA

28,182

Population

6,848

Households

4.1

Avg Household Size

29

Median Age

8%

College-Educated

63%

High-School Grad

316.0 sq mi

ZIP Area

89

Density / Sq Mi

$55,060

Median Household Income

$31,843

Median Earnings

$996

Median Rent

$255,300

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Tenant-occupied duplex with two homes on one lot and covered parking.

Where is this duplex located?

The property is located at 374 Broadway Street Wasco, CA.

What is the asking price?

The asking price for this property is $290,000.

What are key features of this property?

This property features: Two homes located on one lot; 21,344 sq. ft. lot; 1,523 square feet of reported property size