Tenant-Occupied Duplex with
For Sale
$315,000
515 Wilson Ave, Bakersfield, CA 93308
Two separate residences share a fenced lot with independent access and tandem parking.
Property Size980 SF
Price / SF$321.43
Days on Market11
Property Features for 515 Wilson Ave
General Information
Standard status
Active
Size
980 SF
Property subtype
Residential
Additional Details
Multifamily Units
2
Listing Agency:
Keller Williams Realty
(805) 453-8353
Listed By:
Philip M Jordan · License #00966411
(805) 453-8353
Source:
Exprealty
Added: Aug 19
Changed: Aug 23
Last Checked: Aug 26 at 12:39PM
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 duplex property includes a front residence and a detached studio-style unit positioned at the rear of the lot. The primary home has been expanded beyond its original layout, adding living and sleeping areas along with a private en-suite bath that brings the residence to two full bathrooms. Both residences are tenant occupied and described as well maintained.
The rear unit is fully fenced and has its own driveway, while the front residence includes enclosed front and rear yard areas. Long tandem driveways provide parking access for both homes. The property is located at 515 Wilson Ave in Bakersfield, California.
The rear unit is fully fenced and has its own driveway, while the front residence includes enclosed front and rear yard areas. Long tandem driveways provide parking access for both homes. The property is located at 515 Wilson Ave in Bakersfield, California.
Key Highlights
- Two residences situated on one lot
- Front home expanded with additional living and sleeping areas
- Primary residence includes two full bathrooms
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
$12,700
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
4.03%
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%
$254,000
$254.0K
Cap Rate 7%
$181,429
$181.4K
Cap Rate 9%
$141,111
$141.1K
Market Conditions
NOI Build-Up for 980 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
$19.4K $19.80/SF
− Vacancy
−$1.3K −$1.29/SF
EGI
$18.1K $18.51/SF
− OpEx
−$5.4K −$5.55/SF
NOI
$12.7K $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%
$254,000
Cap Rate 7%
$181,429
Cap Rate 9%
$141,111
Alternative Uses
Best Use
Multifamily LT 5
$181.4K
$158.8K – $211.7K
NOI $12,700 @ 7.0% cap · market cap 4.03%
Second Best
Apartment 5plus
$168.5K
$147.4K – $196.6K
NOI $11,795 @ 7.0% cap · market cap 3.74%
Theoretical Best
Office A
$260.1K
$227.6K – $303.4K
NOI $18,204 @ 7.0% cap · market cap 5.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
548
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?
Duplex - Two separate residences share a fenced lot with independent access and tandem parking.
Where is this duplex located?
The property is located at 515 Wilson Ave Bakersfield, CA.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Two residences situated on one lot; Front home expanded with additional living and sleeping areas; Primary residence includes two full bathrooms
