Duplex Investment Property With Two
For Sale
$435,000
709 L St, Bakersfield, CA 93304
Duplex with two spacious units, each with three bedrooms, 2.5 baths, and a two-car garage.
Property Size2,570 SF
Price / SF$169.26
Days on Market42
Property Features for 709 L St
General Information
Standard status
Active
Size
2,570 SF
Total Parking Spaces
4
Property subtype
Residential Income
Occupancy
100%
Building Details
Tenancy
Multi
Listing Agency:
Bonadelle Realty, Inc.
(559) 304-8345
Listed By:
Alejandro Trevino
(559) 304-8345
Source:
Exprealty
Added: Jul 13
Changed: Aug 21
Last Checked: Aug 22 at 1:41PM
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 Bonadelle Realty, Inc.
Investment Insights
Based on property information with market context.
This duplex is set up as a two-unit investment property with fully rented occupancy. The property features two spacious units, and each unit offers three bedrooms, 2.5 baths, and a two-car garage—providing practical space for everyday living and vehicle storage.
The duplex is described as conveniently located for renters, and it’s positioned for buyers interested in owner-occupancy alongside rental income. With two separate units, the layout supports flexible use—live in one unit while the other helps offset expenses.
Overall, this is a straightforward two-unit residential income property with a consistent unit configuration and dedicated garage parking for each unit.
The duplex is described as conveniently located for renters, and it’s positioned for buyers interested in owner-occupancy alongside rental income. With two separate units, the layout supports flexible use—live in one unit while the other helps offset expenses.
Overall, this is a straightforward two-unit residential income property with a consistent unit configuration and dedicated garage parking for each unit.
Key Highlights
- Two‑unit duplex with fully rented occupancy
- Each unit has three bedrooms and 2.5 baths
- Each unit includes a two‑car garage
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
$33,305
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
7.66%
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%
$666,100
$666.1K
Cap Rate 7%
$475,786
$475.8K
Cap Rate 9%
$370,056
$370.1K
Market Conditions
NOI Build-Up for 2,570 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
$50.9K $19.80/SF
− Vacancy
−$3.3K −$1.29/SF
EGI
$47.6K $18.51/SF
− OpEx
−$14.3K −$5.55/SF
NOI
$33.3K $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%
$666,100
Cap Rate 7%
$475,786
Cap Rate 9%
$370,056
Alternative Uses
Best Use
Multifamily LT 5
$475.8K
$416.3K – $555.1K
NOI $33,305 @ 7.0% cap · market cap 7.66%
Second Best
Apartment 5plus
$441.9K
$386.7K – $515.5K
NOI $30,932 @ 7.0% cap · market cap 7.11%
Theoretical Best
Office A
$682.0K
$596.8K – $795.7K
NOI $47,740 @ 7.0% cap · market cap 10.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,199
Businesses Nearby
Explore this area
Business Placement
Demographics for 93304, CA
50,837
Population
16,380
Households
3.1
Avg Household Size
31
Median Age
11%
College-Educated
71%
High-School Grad
7.5 sq mi
ZIP Area
6,778
Density / Sq Mi
$51,627
Median Household Income
$31,562
Median Earnings
$1,141
Median Rent
$228,800
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 - Duplex with two spacious units, each with three bedrooms, 2.5 baths, and a two-car garage.
Where is this duplex located?
The property is located at 709 L St Bakersfield, CA.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: Two‑unit duplex with fully rented occupancy; Each unit has three bedrooms and 2.5 baths; Each unit includes a two‑car garage
