18-Unit Apartment
For Sale
$2,970,000
900 Terrace Way, Bakersfield, CA 93304
On-site management, security cameras, and solar-powered night lighting support property operations.
Property Size15,360 SF
Days on Market9
Property Features for 900 Terrace Way
General Information
Standard status
Active
Size
15,360 SF
Property subtype
Investment
Occupancy
100%
Lease Term
Month-to-month
Additional Details
Multifamily Units
18
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$28,439
Amenities
laundry facility
community pool area
Building Details
Building Size
15,360 SF
Year Built
1968
Stories
2
Units
18
Listing Agency:
KP Realty & Associates
Listed By:
Adriana Marquez
(562) 774-8766
Source:
Elliman
Added: Oct 24
Changed: Oct 25
Last Checked: Oct 30 at 3:58PM
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 KP Realty & Associates
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Investment Insights
Based on property information with market context.
Built in 1968, this 18-unit apartment property is fully occupied. Fifteen apartments have been remodeled, and recent property-wide work includes a new roof and fresh exterior paint on all buildings.
Residents have access to a community pool area and a laundry facility that generates income. The grounds are gated, with security cameras and solar night lighting, and an on-site manager is in place.
Residents have access to a community pool area and a laundry facility that generates income. The grounds are gated, with security cameras and solar night lighting, and an on-site manager is in place.
Key Highlights
- 18‑unit apartment property with full occupancy
- 15 of 18 units are remodeled
- New roof and exterior paint on all buildings this year
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$184,869
Cap Rate
6.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,697,380
$3.7M
Cap Rate 7%
$2,640,986
$2.6M
Cap Rate 9%
$2,054,100
$2.1M
Market Conditions
NOI Build-Up for 15,360 SF
Gross rent
$357.6K $23.28/SF
− Vacancy
−$21.5K −$1.40/SF
EGI
$336.1K $21.88/SF
− OpEx
−$151.3K −$9.85/SF
NOI
$184.9K $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%
$3,697,380
Cap Rate 7%
$2,640,986
Cap Rate 9%
$2,054,100
Alternative Uses
Best Use
Apartment 5plus
$2.64M
$2.31M – $3.08M
NOI $184,869 @ 7.0% cap · market cap 6.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.08M
$3.57M – $4.76M
NOI $285,327 @ 7.0% cap · market cap 9.61%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
18
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
750
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - On-site management, security cameras, and solar-powered night lighting support property operations.
Where is this apartment building located?
The property is located at 900 Terrace Way Bakersfield, CA.
What is the asking price?
The asking price for this property is $2,970,000.
What are key features of this property?
This property features: 18‑unit apartment property with full occupancy; 15 of 18 units are remodeled; New roof and exterior paint on all buildings this year
