Bakersfield Apartment Portfolio
Portfolio Description
Marcus and Millichap are pleased to have been chosen to Exclusively Represent for Sale this (29) Unit Multi-Family Portfolio of properties located in Bakersfield, Ca. There are (6) 4-plexes and (1) 5-plex available in this package. These properties are in good solid rental areas within Bakersfield. Predominantly, the Southwest side of Highway 99. These properties are very well maintained and always kept full. On rare occasions when tenants move out, the Owner has been able to receive more rental income. Most properties have two-car garages and laundry rooms or laundry hook ups. These are large units with a solid unit mix.The properties specifics are as follows.
6300, 6302, 6304, 6309, 6401 Castleford Street - These (5) 4-plexes are highly desirable 3 bd / 2 ba units that command higher rents. Each unit is separately metered for gas, electric with (2) car garages for each.
432 S. Real Rd. – This (4) plex is on the desirable west side of Hwy 99. These units have (2) 3bd / 2ba and (2) 2bd / 2ba units. There are very large laundry rooms that potentially could be converted to additional ADU’s. Please check with the COB. Each unit is separately metered for gas and electricity.
2812 N. Half Moon Dr. - This is a (5) plex in a highly desirable SW location. One of the historically best zip codes in town. These units are comprised of (1) 3bd / 1ba and (4) 2bd / 1ba units. These units have carports and garages. A discriminating Buyer may want to explore converting the garages to ADU’s for additional equity and cash flow.
These units are new to the market and a great investment opportunity. It is not often, that Investors have a chance to obtain multiple units like this. Also, having the back side opportunity to sell away part if there is a necessity to raise capital, without selling all of them. They are located in a very, very strong rental market in a highly sought-after area. This geographic location is near schools, retail with easy access on/off the freeway’s and thoroughfares. With its convenient location in Bakersfield you are in vicinity of a very large rental pool.
Portfolio Key Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Highest & best offer |
| Multifamily type: | Apartments |
| Price: | $ 5,775,000 |
| No. of Units: | 29 |
| Cap Rate: | 6.38% |
| Year Built: | 1985 |
| Opportunity Zone: | No |
| Price per unit: | $199,138 |
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