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Property profile & analytics
OFF-MARKET
Estimated value
$1,615,000
Apartment buildings
2501 Bishop Dr Bakersfield, CA 93306-1006
Entity Owned
1-yr Hold
Property ID
US09-7396693
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1960
Construction
WOOD
Total area
10,056 SF
Lot
0.36 ac (15,681 SF)
Zoning code
R-3
APN
382-052-01-00-7
UPID
US09-7396693
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
Current use
Occupant on record · Public records
-
Bishop Apartments Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.62M
CAP Approach
CAP
$1.82M
Comparable Approach
Comparable
$1.85M
Blend (final)
Blend
$1.62M
Owner & transaction history
2501 Bishop Apartments LLC · 1 yrs held
2501 Bishop Apartments LLC
since 2024
Last sale
$1.6M
7 recorded transactions
Zoning & alternative use
R-3 · Bakersfield, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.3M
+58.4%
Office building
$2.1M
+46.3%
Auto repair, garage
$1.6M
+10.3%
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
$1,615,000
ML approach
$1,615,000
CAP Approach
CAP Return
Estimation
6%
$1,970,000
6.5%
$1,820,000
7%
$1,690,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,450,000
Current use
MEDICAL BUILDING
$2,300,000
Change: +58% · Conversion: Moderate
OFFICE BUILDING
$2,125,000
Change: +46% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,600,000
Change: +10% · Conversion: Difficult
RETAIL STORES
$1,510,000
Change: +4% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,355,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$1.62M
Range $1.45M – $1.78M · ±10% · vs last sale $1.62M (Dec 18 2024)
Last sale anchor
$1.62M
Dec 18 2024
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
$161 / 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
$19,980
Tax year 2023
Assessed value
$1,378,530
Assessed 2023
Previous assessed
$1,378,530
+0.0% YoY
Effective rate
1.45%
On assessed value
Assessed land
$114,444
Assessed improvement
$1,264,086
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
1960
Construction
WOOD
Heating
FORCED AIR
Cooling
YES
Stories
2
Units
12
Total area
10,056 SF
Lot
0.36 ac (15,681 SF)
Zoning code
R-3
APN
382-052-01-00-7
UPID
US09-7396693
Jurisdiction
KERN
Zoning & alternative use
R-3 · Bakersfield, CA
Zoning R-3 · permitted uses
R-3 · 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
$1.5M
MEDICAL BUILDING
Est. value
$2.3M
OFFICE BUILDING
Est. value
$2.1M
AUTO REPAIR, GARAGE
Est. value
$1.6M
RETAIL STORES
Est. value
$1.5M
INDUSTRIAL (GENERAL)
Est. value
$1.4M
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
1960
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
12
Lot
0.36 ac
Current owner
From public records · entity-resolved
2501 Bishop Apartments LLC
Entity
Mailing address
966 HILGARD AVE #806, LOS ANGELES, CA 90024-3057
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 18, 2024
$1,615,000
2501 Bishop Apartments LLC
7728 Norton Ave LLC
Grant Deed
$888,250 · Axos Bank
Nov 12, 2020
$1,325,000
7728 Norton Ave LLC
2501 Bishop Drive LLC
Grant Deed
$927,500 · Fresno First Bank
May 14, 2019
$955,000
2501 Bishop Drive LLC
Young For Christ Of Kern County
Grant Deed
$710,000 · Fresno First Bank
Aug 19, 2016
$875,000
Youth For Christ Of Kern County
Harvest Creek LLC
Grant Deed
$450,000 · River Lane Six Trust (ct)
Feb 28, 2014
$725,000
Harvest Creek LLC
West Ridge Rentals LLC
Grant Deed
—
May 25, 2012
—
West Ridge Rentals LLC
Mid-cal Realty Services INC
Grant Deed
—
May 25, 2012
$428,300
Mid-cal Realty Services INC
Assured Lender Svcs INC
Trustees Deed
related
—
Sep 23, 2005
$910,000
Fernando Porras
John Q & Lucile P Long LLC
Grant Deed
$450,000 · Sgc Trust 006329
Oct 2, 2003
—
John Q & Lucille P Long LLC
Long,tr
Quit Claim Deed
related
—
Jul 15, 1991
$135,000
John Q Long
Dancer,rentals
Grant Deed
related
—
Apr 3, 1991
$135,000
Rentals I Dancer
Long,trust
Grant Deed
related
—
—
—
Harvest Creek LLC
—
Deed Of Trust
related
$699,746 · A-10 Investments INC
—
—
West Ridge Rentals LLC
—
Deed Of Trust
related
$550,000 · Granite Ranch Opportunities
—
—
Fernando Porras
—
Deed Of Trust
related
$595,000 · Greenpoint Mortgage Funding
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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