Building Details

Building Size 8,712 SF

Year Built 1935

Units 5

Listed By: Randy Bennett · License #01380249 Show Phone

Source: Elliman

Added: Mar 10 Changed: Sep 27 Last Checked: Oct 7 at 1:17PM

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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 Randy Bennett

Investment Insights

Based on property information with market context.

This fully-occupied 5-unit property is located in Downtown Bakersfield, near restaurants, shops, and with freeway access. The property consists of two buildings on one 8,626 sq ft lot. The front house, located at 800 31st Street, is a single-family home constructed in 1935, featuring 2 bedrooms and 1 bath. The four-plex, located at 3111 Q Street, was built in 1985 and contains four 2-bedroom, 1-bath units. The total living space is 4,244 sq ft. All units are currently rented, generating a combined monthly income of $5,720. The property is located near major employers, schools, and transportation. This multi-unit property is suitable for long-term income generation.

Key Highlights

• Fully rented 5‑unit property generating $5,720 monthly income
• Prime Downtown Bakersfield location near restaurants, shops, and freeway access
• Two buildings on one lot: a 2‑bed/1‑bath single‑family home and a four‑plex with four 2‑bed/1‑bath units

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$51,080

Cap Rate

7.57%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,021,600 $1.0M

Cap Rate 7%

$729,714 $729.7K

Cap Rate 9%

$567,556 $567.6K

Market Conditions

NOI Build-Up for 4,244 SF

Gross rent

$98.8K $23.28/SF

− Vacancy

−$5.9K −$1.40/SF

EGI

$92.9K $21.88/SF

− OpEx

−$41.8K −$9.85/SF

NOI

$51.1K $12.04/SF

Area

Bakersfield, CA

Vacancy

6.00%

Lease Rate

$23.28 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,021,600

Cap Rate 7%

$729,714

Cap Rate 9%

$567,556

Alternative Uses

Best Use

Apartment 5plus

$729.7K

$638.5K – $851.3K (±1% cap)

NOI $51,080 @ 7.0% cap · market cap 7.57%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.13M

$985.5K – $1.31M (±1% cap)

NOI $78,837 @ 7.0% cap · market cap 11.68%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Locksmith Storage Facility (Bike/Boat/Book/etc) Store Electrical Service Restaurant Travel Agency

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,065

Businesses Nearby

Explore this area Business Placement

Demographics for 93301, CA

14,518

Population

6,202

Households

2.3

Avg Household Size

33

Median Age

20%

College-Educated

83%

High-School Grad

4.3 sq mi

ZIP Area

3,376

Density / Sq Mi

$40,725

Median Household Income

$36,623

Median Earnings

$1,129

Median Rent

$264,300

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Apartment building - Fully rented 5-unit property in Downtown Bakersfield with immediate cashflow.

Where is this apartment building located?

The property is located at 800 31st and 3111 Q st Bakersfield, CA.

What is the asking price?

The asking price for this property is $675,000.

What are key features of this property?

This property features: Fully rented 5‑unit property generating $5,720 monthly income; Prime Downtown Bakersfield location near restaurants, shops, and freeway access; Two buildings on one lot: a 2‑bed/1‑bath single‑family home and a four‑plex with four 2‑bed/1‑bath units