Duplex with Separate-Entry
New
For Sale
$775,000
7501 Penny Marie Avenue, Bakersfield, CA 93308
Residential Income, Bakersfield, CA
Property Size3,284 SF
Lot Size0.29 Acres
Price / SF$235.99
Days on Market7
Property Features for 7501 Penny Marie Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
2
Parking features
Garage
Subdivision
4210-b
Elementary school
Olive Drive
Middle school
Norris
High school
Centennial
Standard status
Active
APN
36214108
Size
3,284 SF
Lot size
0.29 Acres
Amenities
solar panels
220 Volt EV fast charging station
pool
RV Parking space
Building Details
Year built
1984
Floors in Building
1
Number of units
2
Listing Agency:
Watson Realty
(661) 327-5161
Listed By:
Brenda L Barrientos
(661) 900-4119
Added: Oct 22
Changed: Oct 24
Last Checked: Oct 28 at 6:06PM
MLS# 202611235
Copyright © 2026 Golden Empire MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 1984, this 3,284-square-foot duplex pairs a three-bedroom, two-bath main home with an attached two-bedroom, one-bath residence. Each living area has a separate entrance. Interior updates include quartz kitchen counters and backsplash, recessed LED kitchen lighting, and luxury vinyl flooring in the main home; the attached unit has luxury vinyl flooring in its living room and a walk-in shower. The attached unit was remodeled in 2013 following a fire.
The 0.2913-acre corner lot includes a replastered pool, completed in October 2025, RV parking behind a roller door, and a garage with a 220-volt EV charging station. The property also has a 42-panel solar system, fully paid off.
The 0.2913-acre corner lot includes a replastered pool, completed in October 2025, RV parking behind a roller door, and a garage with a 220-volt EV charging station. The property also has a 42-panel solar system, fully paid off.
Key Highlights
- 3,284‑square‑foot duplex on a 0.2913‑acre corner lot
- Main residence: 3 bedrooms and 2 full baths; attached unit: 2 bedrooms and 1 bath
- Separate entrances serve the two living areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,558
Cap Rate
5.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$851,160
$851.2K
Cap Rate 7%
$607,971
$608.0K
Cap Rate 9%
$472,867
$472.9K
Market Conditions
NOI Build-Up for 3,284 SF
Gross rent
$65.0K $19.80/SF
− Vacancy
−$4.2K −$1.29/SF
EGI
$60.8K $18.51/SF
− OpEx
−$18.2K −$5.55/SF
NOI
$42.6K $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%
$851,160
Cap Rate 7%
$607,971
Cap Rate 9%
$472,867
Alternative Uses
Best Use
Multifamily LT 5
$608.0K
$532.0K – $709.3K
NOI $42,558 @ 7.0% cap · market cap 5.49%
Second Best
Apartment 5plus
$564.6K
$494.1K – $658.8K
NOI $39,525 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$871.5K
$762.6K – $1.02M
NOI $61,004 @ 7.0% cap · market cap 7.87%
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
197
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 - Two distinct living areas include a three-bedroom primary home and an attached two-bedroom suite, each with its own entrance.
Where is this duplex located?
The property is located at 7501 Penny Marie Avenue Bakersfield, CA.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: 3,284‑square‑foot duplex on a 0.2913‑acre corner lot; Main residence: 3 bedrooms and 2 full baths; attached unit: 2 bedrooms and 1 bath; Separate entrances serve the two living areas
