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615 Olive St - 615 Olive Street 3 Unit Apartment Building Offered at $430,000 at a 6% Cap Rate Bakersfield, CA 93304
Investment Highlights
- 100% occupied — $3,640/mo actual income
- Main house remodeled, re-plumbed, new AC — all within last 10 years
- Corner lot in the historic Oleander neighborhood, minutes from downtown
- All 2BD/1BA units with private areas
- Newer windows throughout, central AC/heat well-maintained
- Duplex plus standalone 2-bedroom home on one parcel ?????You said: Loopnet calculated an NOI after I punched in the Price GRM and Cap Rate
Executive Summary
Three units, all leased, all paying..... and this one is sitting in the historic Oleander neighborhood just minutes from downtown Bakersfield! 615 Olive Street is a corner lot featuring a duplex PLUS a standalone 2-bedroom home — 100% occupied and generating $3,640 a month in actual rents right now.
The main house has been remodeled, re-plumbed, updated, and had a new AC installed — all within the last 10 years. Newer windows throughout, central air and heat in well-maintained condition. This is not a fixer..... this is a ready-to-perform asset with solid tenants already in place.
Corner lot position gives you more presence and more footprint than a standard interior lot at this price point. At $430,000 in one of Bakersfield's most coveted historic neighborhoods, this one is not going to last. Call or text Phil at (805) 453-8353 or email phil@jordanapartmentguys.com. Rents are ACTUAL; expenses are PROJECTED. Drive-by only — do not disturb tenants. Subject to interior inspection.
The main house has been remodeled, re-plumbed, updated, and had a new AC installed — all within the last 10 years. Newer windows throughout, central air and heat in well-maintained condition. This is not a fixer..... this is a ready-to-perform asset with solid tenants already in place.
Corner lot position gives you more presence and more footprint than a standard interior lot at this price point. At $430,000 in one of Bakersfield's most coveted historic neighborhoods, this one is not going to last. Call or text Phil at (805) 453-8353 or email phil@jordanapartmentguys.com. Rents are ACTUAL; expenses are PROJECTED. Drive-by only — do not disturb tenants. Subject to interior inspection.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 3 | $1,220 | 676 - 726 |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
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615 Olive St - 615 Olive Street
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