Eight-Unit Apartment Buildings with Covered
For Sale
$1,050,000
4320 Columbus Street, Bakersfield, CA 93306
Two fourplexes offer two-bedroom layouts, private yards, covered parking, and shared on-site laundry facilities.
Property Size6,336 SF
Price / SF$165.72
Days on Market90
Property Features for 4320 Columbus Street
General Information
Standard status
Active
Size
6,336 SF
Property subtype
Multi-Family
Occupancy
100%
Financials
Cap Rate
6.7%
Gross Income
$107,520
Units
Unit Mix
8 x 2BD/1BA
Multifamily Units
8
Amenities
private yard areas
covered parking
common area between buildings
on-site laundry room
Central AC
Building Details
Year Built
1962
Buildings
2
Stories
1
Listing Agency:
Keller Williams Realty
(805) 453-8353
Listed By:
Philip Jordan · License #CADRE
(805) 453-8353
Source:
Kw
Added: Jun 4
Changed: Aug 31
Last Checked: Aug 2 at 5:46AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This multifamily property consists of two fourplex buildings on a single parcel, with eight total units and 6,336 square feet. Each residence features a two-bedroom, one-bath layout, private yard area, and access to covered parking. A shared area separates the buildings, while an on-site laundry room adds a practical common amenity. Central AC serves the property, with 6 of the 8 units equipped with systems that are about 6 years old or newer. Some windows have also been replaced.
Built in 1962, the property is located at 4320 Columbus Street in Bakersfield’s 93306 area. All 8 units are occupied, and the reported cap rate is 6.7%.
Built in 1962, the property is located at 4320 Columbus Street in Bakersfield’s 93306 area. All 8 units are occupied, and the reported cap rate is 6.7%.
Key Highlights
- 8‑unit multifamily property arranged as two 4‑plex buildings on one parcel
- 6,336 square feet with all units configured as 2BD/1BA
- 100% occupied with a reported 6.7% cap rate
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
$74,529
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
7.10%
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%
$1,490,580
$1.5M
Cap Rate 7%
$1,064,700
$1.1M
Cap Rate 9%
$828,100
$828.1K
Market Conditions
NOI Build-Up for 6,336 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
$142.9K $22.56/SF
− Vacancy
−$7.4K −$1.17/SF
EGI
$135.5K $21.39/SF
− OpEx
−$61.0K −$9.62/SF
NOI
$74.5K $11.76/SF
Area
ZIP 93306
Vacancy
5.20%
Lease Rate
$22.56 /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%
$1,490,580
Cap Rate 7%
$1,064,700
Cap Rate 9%
$828,100
Alternative Uses
Best Use
Apartment 5plus
$1.06M
$931.6K – $1.24M
NOI $74,529 @ 7.0% cap · market cap 7.10%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.69M
$1.48M – $1.98M
NOI $118,553 @ 7.0% cap · market cap 11.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
180
Businesses Nearby
Explore this area
Business Placement
Demographics for 93306, CA
74,623
Population
23,789
Households
3.1
Avg Household Size
32
Median Age
18%
College-Educated
77%
High-School Grad
97.3 sq mi
ZIP Area
767
Density / Sq Mi
$66,988
Median Household Income
$35,696
Median Earnings
$1,219
Median Rent
$290,700
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 - Two fourplexes offer two-bedroom layouts, private yards, covered parking, and shared on-site laundry facilities.
Where is this apartment building located?
The property is located at 4320 Columbus Street Bakersfield, CA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 8‑unit multifamily property arranged as two 4‑plex buildings on one parcel; 6,336 square feet with all units configured as 2BD/1BA; 100% occupied with a reported 6.7% cap rate
