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 Market56
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
(661) 617-6500
Listed By:
Philip M Jordan · License #00966411
(805) 453-8353
Source:
Exprealty
Added: Aug 19
Changed: Oct 3
Last Checked: Oct 12 at 10:45PM
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 / Yr
$12,700
Cap Rate
4.03%
Suggested Prices Based on Cap Rates
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
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 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.
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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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
