8-Unit Apartment
For Sale
$960,000
Pending
600 S Real Rd, Bakersfield, CA 93309
Every residence follows the same two-bedroom, one-bathroom layout for consistent property operations.
Property Size6,534 SF
Days on Market74
Property Features for 600 S Real Rd
General Information
Standard status
Pending
Size
6,534 SF
Property subtype
Residential Income
Units
Unit Mix
8 x 2BR/1BA
Multifamily Units
8
Listing Agency:
Central Valley Property Advisors
Listed By:
Eric VanDenk · License #02071696
(661) 376-0575
Source:
Exprealty
Added: Jul 6
Changed: Sep 3
Last Checked: Sep 17 at 12:10AM
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 Central Valley Property Advisors
Investment Insights
Based on property information with market context.
This 6,534-square-foot apartment property contains 8 units, each configured with 2 bedrooms and 1 bathroom. The standardized floor plan creates a consistent physical layout across the asset and provides a straightforward framework for ongoing property administration.
The property is located at 600 S Real Rd in Bakersfield, California 93309. Its uniform unit mix distinguishes the asset within the multifamily category and keeps the residential configuration consistent from one apartment to the next.
The property is located at 600 S Real Rd in Bakersfield, California 93309. Its uniform unit mix distinguishes the asset within the multifamily category and keeps the residential configuration consistent from one apartment to the next.
Key Highlights
- 8‑unit apartment property
- Uniform mix of 2‑bedroom, 1‑bathroom units
- 6,534 square feet of 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
$78,642
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
8.19%
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%
$1,572,840
$1.6M
Cap Rate 7%
$1,123,457
$1.1M
Cap Rate 9%
$873,800
$873.8K
Market Conditions
NOI Build-Up for 6,534 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
$152.1K $23.28/SF
− Vacancy
−$9.1K −$1.40/SF
EGI
$143.0K $21.88/SF
− OpEx
−$64.3K −$9.85/SF
NOI
$78.6K $12.04/SF
Area
Bakersfield, CA
Vacancy
6.00%
Lease Rate
$23.28 /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%
$1,572,840
Cap Rate 7%
$1,123,457
Cap Rate 9%
$873,800
Alternative Uses
Best Use
Apartment 5plus
$1.12M
$983.0K – $1.31M
NOI $78,642 @ 7.0% cap · market cap 8.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.73M
$1.52M – $2.02M
NOI $121,376 @ 7.0% cap · market cap 12.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1,132
Businesses Nearby
Explore this area
Business Placement
Demographics for 93309, CA
61,079
Population
23,546
Households
2.6
Avg Household Size
33
Median Age
20%
College-Educated
83%
High-School Grad
10.5 sq mi
ZIP Area
5,817
Density / Sq Mi
$62,143
Median Household Income
$36,281
Median Earnings
$1,268
Median Rent
$286,600
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?
Apartment building - Every residence follows the same two-bedroom, one-bathroom layout for consistent property operations.
Where is this apartment building located?
The property is located at 600 S Real Rd Bakersfield, CA.
What is the asking price?
The asking price for this property is $960,000.
What are key features of this property?
This property features: 8‑unit apartment property; Uniform mix of 2‑bedroom, 1‑bathroom units; 6,534 square feet of property size
