Two-Unit Duplex with Private
For Sale
$399,000
651 Greenwood Meadow Ln, Bakersfield, CA 93308
Each residence includes an attached garage and laundry hookups.
Property Size1,590 SF
Lot Size0.16 Acres
Price / SF$250.94
Days on Market17
Property Features for 651 Greenwood Meadow Ln
General Information
Standard status
Active
Size
1,590 SF
Total Parking Spaces
2
Lot size
0.16 Acres
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
laundry hookups
private patio
Building Details
Year Built
2005
Listing Agency:
ASU Commercial
(661) 862-5454
Listed By:
Caleb A. Fisk
(661) 282-0807
Source:
Exprealty
Added: Oct 12
Changed: Oct 27
Last Checked: Oct 27 at 4:19AM
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 ASU Commercial
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Investment Insights
Based on property information with market context.
Built in 2005, this duplex contains two 2-bedroom, 1-bathroom residences with approximately 1,590 square feet of combined living area. Each unit has an attached one-car garage, laundry hookups, and a private patio. The property occupies a 6,970-square-foot lot in Bakersfield.
Key Highlights
- Two 2‑bedroom, 1‑bathroom units
- Approximately 1,590 square feet of total living space
- Built in 2005
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,605
Cap Rate
5.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$412,100
$412.1K
Cap Rate 7%
$294,357
$294.4K
Cap Rate 9%
$228,944
$228.9K
Market Conditions
NOI Build-Up for 1,590 SF
Gross rent
$31.5K $19.80/SF
− Vacancy
−$2.0K −$1.29/SF
EGI
$29.4K $18.51/SF
− OpEx
−$8.8K −$5.55/SF
NOI
$20.6K $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%
$412,100
Cap Rate 7%
$294,357
Cap Rate 9%
$228,944
Alternative Uses
Best Use
Multifamily LT 5
$294.4K
$257.6K – $343.4K
NOI $20,605 @ 7.0% cap · market cap 5.16%
Second Best
Apartment 5plus
$273.4K
$239.2K – $319.0K
NOI $19,137 @ 7.0% cap · market cap 4.80%
Theoretical Best
Office A
$421.9K
$369.2K – $492.3K
NOI $29,536 @ 7.0% cap · market cap 7.40%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
105
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes an attached garage and laundry hookups.
Where is this duplex located?
The property is located at 651 Greenwood Meadow Ln Bakersfield, CA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bathroom units; Approximately 1,590 square feet of total living space; Built in 2005
