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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2003 Lester St Bakersfield, CA 93304-3570

    • Apartment buildings
    • 10,250 SF
    • 0.93 lot acres
    OFF-MARKET
    Last Sale
    Sep 16, 2020
    $1,200,000
    Value Estimations
    $1,190,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-3170288
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 2003 Lester St

    Year built
    1940
    Construction
    WOOD
    Lot size
    0.93 lot acres
    Property size
    10,250 SF
    Zone code
    R-3
    Property type
    Apartment buildings
    APN
    147-381-01-00-1
    APU
    14738101001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,195,000
      ML approach
      $1,160,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,416,000
      Market price range: $342k - $2.02M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,375,000
      Current use
      AUTO REPAIR, GARAGE
      $1,635,000
      Change: +19% Conversion: Difficult
      RETAIL STORES
      $1,485,000
      Change: +8% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $1,380,000
      Change: +0% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Bakersfield
    County
    Kern
    State
    California
    Longitude
    -119.025
    Latitude
    35.348
    CBSA code
    12540
    CBSA name
    BAKERSFIELD, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $23,841
    $148,777
    $1,099,702
    $1,248,479
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $8,590,000
      45,562 SF

      1015 O St

      APARTMENT HOUSE (5+ UNITS) • 45,562 SF
      1015 O St, Bakersfield, CA 93304-1488
      View Details
    • Value Estimation
      $12,125,000
      68,768 SF

      500 R St

      APARTMENT HOUSE (5+ UNITS) • 68,768 SF
      500 R St, Bakersfield, CA 93304-0900
      View Details
    • Value Estimation
      $3,420,000
      38,534 SF

      3901 El Potrero Ln

      APARTMENT HOUSE (5+ UNITS) • 38,534 SF
      3901 El Potrero Ln, Bakersfield, CA 93304-6349
      View Details
    • Value Estimation
      $2,475,000
      14,910 SF

      117 Nn St

      APARTMENT HOUSE (5+ UNITS) • 14,910 SF
      117 Nn St, Bakersfield, CA 93304-3131
      View Details
    • Value Estimation
      $2,295,000
      22,404 SF

      4109 Teal St

      APARTMENT HOUSE (5+ UNITS) • 22,404 SF
      4109 Teal St, Bakersfield, CA 93304-6400
      View Details
    • Value Estimation by Request
      3,170 SF

      1609 Ter Way

      APARTMENT HOUSE (5+ UNITS) • 3,170 SF
      1609 Ter Way, Bakersfield, CA 93304-3937
      View Details

    Similar Nearby for Sale

    • $5,600,000

      Cedarvale Apartments: 40 Units

      40-unit apartment complex with recent upgrades and convenient location.
      701 Planz Rd, Bakersfield, CA 93304
      View Details
    • $1,800,000

      Bakersfield Multifamily Investment

      14-Unit Apartment Building, High ROI
      2325 Chester Ln, Bakersfield, CA 93304
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    • $550,000
      2,835 SF

      Bakersfield Duplex: Income Opportunity

      Income-producing duplex in Bakersfield, fully occupied, great location.
      905 Castro Ln, Bakersfield, CA 93304
      View Details
    • $350,000
      1,396 SF

      Bakersfield Multifamily Property For Sale

      Multifamily property in Bakersfield, CA, with 1396 square feet.
      323 E St, Bakersfield, CA 93304
      View Details
    • New
      $435,000
      Pending

      Bakersfield Duplex with Income Potential

      Income-producing duplex in Southwest Bakersfield, ideal for investors or owner-occupants.
      1017 Paloma St, Bakersfield, CA 93304
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    • $720,000
      1,696 SF

      Renovated Triplex in Opportunity Zone

      Versatile triplex suitable for live-work, office, or residential rentals.
      2300 Brundage Ln, Bakersfield, CA 93304
      View Details

    Similar Nearby for Lease

    • $1.50 SF/Yr
      1,463 SF

      Retail Space at Signalized Intersection

      Retail building with endcap space available at a busy intersection.
      1400 Brundage Ln, Bakersfield, CA 93304
      View Details
    • $550 /Mo
      450 SF

      Bakersfield Office Space For Rent

      Office space for rent including utilities and on-site parking.
      1400 Chester Ave, Bakersfield, CA 93304
      View Details
    • $1.10 SF/Yr
      5,184 SF

      Retail Space Available For Rent

      Retail space available for rent in Bakersfield, California.
      913 N Chester Ave, Bakersfield, CA 93304
      View Details
    • Contact for pricing
      4,000 SF

      Retail Space in Bakersfield

      Retail space available for lease in Bakersfield, California.
      4310 California Ave, Bakersfield, CA 93304
      View Details
    • Contact for pricing
      5,000 SF

      Bakersfield Retail Building - Prime Location

      Free-standing retail space, ample parking, high visibility.
      100 Oak St, Bakersfield, CA 93304
      View Details
    • Contact for pricing

      Bakersfield Commercial Land - 0.7 Acres

      Prime Bakersfield location, C-2 zoning, freeway visibility.
      101 Brundage Ln, Bakersfield, CA 93304
      View Details
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    2003 Lester St
    Bakersfield, CA 93304-3570
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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