Two-Home Multifamily
For Sale
$489,900
719 Philippine Street, Taft, CA 93268
Remodeled two-home configuration with central heating, air conditioning, a detached garage, and outdoor patio space.
Property Size2,658 SF
Days on Market46
Property Features for 719 Philippine Street
General Information
Standard status
Active
Size
2,658 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
Central AC
Central Heat
Building Details
Building Size
2,658 SF
Year Built
1945
Buildings
2
Stories
1
Listing Agency:
Watson Realty
(661) 903-3183
Listed By:
Alex Daredia · License #02035436
(661) 903-3183
Source:
Kw
Added: Jul 18
Changed: Aug 31
Last Checked: Aug 31 at 12:35AM
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 Watson Realty
Investment Insights
Based on property information with market context.
This multifamily property includes two separate homes situated on one lot, providing a flexible residential configuration. The main residence has been remodeled with updated finishes while retaining historic character. Both homes are supported by central AC and central heat, and the property includes a detached two-car garage along with patio space. Built in 1945, the property is located at 719 Philippine Street in Taft, California.
Key Highlights
- Two homes on one lot
- Remodeled main home with updated finishes and historic character
- Detached 2‑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
$30,620
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
6.25%
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%
$612,400
$612.4K
Cap Rate 7%
$437,429
$437.4K
Cap Rate 9%
$340,222
$340.2K
Market Conditions
NOI Build-Up for 2,658 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
$57.4K $21.60/SF
− Vacancy
−$1.7K −$0.65/SF
EGI
$55.7K $20.95/SF
− OpEx
−$25.1K −$9.43/SF
NOI
$30.6K $11.52/SF
Area
Kern County, CA
Vacancy
3.03%
Lease Rate
$21.60 /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%
$612,400
Cap Rate 7%
$437,429
Cap Rate 9%
$340,222
Alternative Uses
Best Use
Apartment 5plus
$437.4K
$382.8K – $510.3K
NOI $30,620 @ 7.0% cap · market cap 6.25%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$567.8K
$496.9K – $662.5K
NOI $39,748 @ 7.0% cap · market cap 8.11%
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
67
Businesses Nearby
Explore this area
Business Placement
Demographics for 93268, CA
18,502
Population
6,289
Households
2.9
Avg Household Size
32
Median Age
9%
College-Educated
74%
High-School Grad
68.1 sq mi
ZIP Area
272
Density / Sq Mi
$55,473
Median Household Income
$28,563
Median Earnings
$998
Median Rent
$225,000
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?
Multifamily property - Remodeled two-home configuration with central heating, air conditioning, a detached garage, and outdoor patio space.
Where is this multifamily property located?
The property is located at 719 Philippine Street Taft, CA.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: Two homes on one lot; Remodeled main home with updated finishes and historic character; Detached 2‑car garage
