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Property profile & analytics
OFF-MARKET
Estimated value
$2,295,000
Apartment buildings
1919 Lacey St Bakersfield, CA 93304-5923
Individually Owned
21-yr Hold
Property ID
US09-0258402
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1977
Construction
WOOD
Total area
15,946 SF
Lot
0.76 ac (33,105 SF)
Zoning code
R3
APN
023-171-07-00-5
UPID
US09-0258402
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.96M
Comparable Approach
Comparable
$2.19M
Blend (final)
Blend
$2.30M
Owner & transaction history
Pedro C Morales · 21 yrs held
Pedro C Morales
since 2005
6 recorded transactions
Zoning & alternative use
R3 · Bakersfield, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$3.6M
+70.3%
Office building
$3.1M
+44.6%
Auto repair, garage
$2.5M
+18.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Bakersfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bakersfield submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,200,000
6.5%
$2,955,000
7%
$2,740,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,140,000
Current use
MEDICAL BUILDING
$3,645,000
Change: +70% · Conversion: Moderate
OFFICE BUILDING
$3,095,000
Change: +45% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,540,000
Change: +19% · Conversion: Difficult
RETAIL STORES
$2,315,000
Change: +8% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,150,000
Change: +0% · Conversion: Difficult
Blend value · Realmo final
$2.30M
Range $2.07M – $2.52M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$144 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$23,857
Tax year 2023
Assessed value
$1,540,740
Assessed 2023
Previous assessed
$1,540,740
+0.0% YoY
Effective rate
1.55%
On assessed value
Assessed land
$267,947
Assessed improvement
$1,272,793
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1977
Construction
WOOD
Heating
YES
Cooling
YES
Stories
2
Units
12
Total area
15,946 SF
Lot
0.76 ac (33,105 SF)
Zoning code
R3
APN
023-171-07-00-5
UPID
US09-0258402
Jurisdiction
KERN
Zoning & alternative use
R3 · Bakersfield, CA
Zoning R3 · permitted uses
R3 · Bakersfield, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bakersfield. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$2.1M
MEDICAL BUILDING
Est. value
$3.6M
OFFICE BUILDING
Est. value
$3.1M
AUTO REPAIR, GARAGE
Est. value
$2.5M
RETAIL STORES
Est. value
$2.3M
INDUSTRIAL (GENERAL)
Est. value
$2.2M
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1977
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
2
Units
12
Lot
0.76 ac
Current owner
From public records · entity-resolved
Pedro C Morales
Individual
Mailing address
PO BOX 664, SEASIDE, CA 93955-0664
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 19, 2022
—
Maria G Maldonado Morales
—
Deed
related
$1,200,000 · Axos Bank
Dec 20, 2016
—
Pedro C Morales
—
Deed
related
$700,000 · Bofi Federal Bank
May 27, 2005
$1,150,000
Pedro C Morales
Lily Properties LLC
Grant Deed
$590,000 · Banco Popular North America
Dec 20, 2004
$550,000
Lily Properties LLC
Najjarine,fouad & Kathleen
Grant Deed
$550,000 · Jackson Federal Bank
Mar 31, 2004
$665,000
Fouad Najjarine
Casner,richard J & Lelsie
Grant Deed
$450,000 · Jackson Federal Bank
—
—
Harrison Trust
—
Deed Of Trust
related
$295,000 · Bank Of America
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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