Spacious Bakersfield Duplex For
For Sale
$499,999
729 L Street, Bakersfield, CA 93304
Residential Income, Bakersfield, CA
Property Size2,570 SF
Lot Size0.09 Acres
Price / SF$194.55
Days on Market126
Property Features for 729 L Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking
2
Parking features
Carport
Elementary school
Roosevelt_Bak
Middle school
Emerson
High school
Bakersfield
Elementary school district
Bakersfield City
Subdivision
10
Standard status
Active
APN
00926218
Size
2,570 SF
Lot size
0.09 Acres
Building Details
Year built
2008
Floors in Building
2
Number of units
2
Listing Agency:
Watson Realty
(661) 327-5161
Listed By:
Royce Jennings · License #01959264
(661) 444-6232
Added: Apr 20
Changed: Aug 19
Last Checked: Aug 23 at 7:06AM
MLS# 202604277
Copyright © 2026 Bakersfield Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex property, located in Bakersfield, California, features a combined space of 2570 square feet. Each unit includes 3 bedrooms and 2.5 bathrooms. The master bedroom is spacious and includes a walk-in closet and a private bathroom. The kitchen has been updated and features a pantry, granite countertops, and a breakfast area. The living areas are large. Ceramic tile flooring is present downstairs. The property includes central air conditioning and heating. Two private parking spaces are provided. The lot size is 0.09 acres. This property can be sold as a portfolio with other properties.
Key Highlights
- Spacious duplex with 2570 sq ft of combined living space.
- 3 bedrooms and 2.5 bathrooms, including a large master suite with walk‑in closet and private bathroom.**
- Updated kitchen with granite countertops and pantry.
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
6.66%
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 6.66%
Second Best
Apartment 5plus
$441.9K
$386.7K – $515.5K
NOI $30,932 @ 7.0% cap · market cap 6.19%
Theoretical Best
Office A
$682.0K
$596.8K – $795.7K
NOI $47,740 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,219
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 3 bedrooms, updated kitchen, and private parking.
Where is this duplex located?
The property is located at 729 L Street Bakersfield, CA.
What is the asking price?
The asking price for this property is $499,999.
What are key features of this property?
This property features: Spacious duplex with 2570 sq ft of combined living space.; 3 bedrooms and 2.5 bathrooms, including a large master suite with walk‑in closet and private bathroom.**; Updated kitchen with granite countertops and pantry.
