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Property profile & analytics
OFF-MARKET
Estimated value
$20,405,000
Apartment buildings
3900 Riverlakes Dr Bakersfield, CA 93312-6660
Entity Owned
10-yr Hold
Property ID
US09-1909217
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
2004
Construction
WOOD
Total area
104,909 SF
Lot
6.43 ac (280,090 SF)
Zoning code
R-2
APN
451-510-02-00-2
UPID
US09-1909217
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
-
Breakwater Apartments Apartment Complex
-
Jun BBQ Restaurant
-
Pro Corporation Stay America Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$18.08M
Comparable Approach
Comparable
$21.35M
Blend (final)
Blend
$20.41M
Owner & transaction history
Riverlakes Properties LLC · 10 yrs held
Riverlakes Properties LLC
since 2016
7 recorded transactions
Zoning & alternative use
R-2 · Bakersfield, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$24.0M
+49.8%
Office building
$22.2M
+38.3%
Auto repair, garage
$16.7M
+4.3%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$19,585,000
6.5%
$18,075,000
7%
$16,785,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$16,015,000
Current use
MEDICAL BUILDING
$23,985,000
Change: +50% · Conversion: Moderate
OFFICE BUILDING
$22,150,000
Change: +38% · Conversion: Moderate
AUTO REPAIR, GARAGE
$16,710,000
Change: +4% · Conversion: Difficult
RETAIL STORES
$14,915,000
Change: -7% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$14,145,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$20.41M
Range $18.36M – $22.45M · ±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
$195 / 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
$261,028
Tax year 2023
Assessed value
$18,842,450
Assessed 2023
Previous assessed
$18,842,450
+0.0% YoY
Effective rate
1.39%
On assessed value
Assessed land
$1,621,404
Assessed improvement
$17,221,046
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 (100+ UNITS)
Status
Off-Market
Year built
2004
Construction
WOOD
Heating
YES
Cooling
YES
Stories
1
Units
112
Total area
104,909 SF
Lot
6.43 ac (280,090 SF)
Zoning code
R-2
APN
451-510-02-00-2
UPID
US09-1909217
Jurisdiction
KERN
Zoning & alternative use
R-2 · Bakersfield, CA
Zoning R-2 · permitted uses
R-2 · 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
$16.0M
MEDICAL BUILDING
Est. value
$24.0M
OFFICE BUILDING
Est. value
$22.2M
AUTO REPAIR, GARAGE
Est. value
$16.7M
RETAIL STORES
Est. value
$14.9M
INDUSTRIAL (GENERAL)
Est. value
$14.1M
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
2004
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Units
112
Lot
6.43 ac
Current owner
From public records · entity-resolved
Riverlakes Properties LLC
Entity
Mailing address
PO BOX 21251, BAKERSFIELD, CA 93390-1251
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 31, 2016
—
Riverlakes Properties LLC
—
Deed
related
$10,818,000 · Enterprise Mtg Invs
Mar 31, 2016
$16,600,000
Riverlakes Properties LLC
Breakwater Apartments LLC
Grant Deed
—
May 30, 2006
—
Breakwater Apartments LLC
—
Deed Of Trust
related
$7,000,000 · Tri Counties Bank
Mar 4, 2005
—
Breakwater Apartments LLC
—
Deed Of Trust
related
$7,500,000 · Standard Pacific Corp
Dec 17, 2003
—
Breatwater Apartments LLC
Riverlakes Enterprises LLC
Grant Deed
$7,000,000 · Tri Counties Bank
—
—
Breakwater Apartments LLC
—
Deed Of Trust
related
$12,000,000 · Tri Counties Bank
—
—
Breakwater Apartments LLC
—
Deed Of Trust
related
$7,500,000 · Tri Counties Bank
—
—
Riverlakes Properties LLC
—
Deed Of Trust
related
$10,818,000 · Enterprise Mtg Invs
—
—
Breakwater Apartments LLC
—
Deed Of Trust
related
$7,500,000 · Tri Counties Bank
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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