Bakersfield, CA
56 unit Apartment building

DRIVE BY ONLY PLEASE.
 
LARGE 3.9 ACRE PARCEL WITH REDEVELOPMENT POTENTIAL. ALL UNITS 2+1. EXTRA LAND FOR PARKING. COULD BE CONDO CONVERSION POTENTIAL. CHECK WITH CITY. SEPARATE METER, NEWER A/C UNITS. GREAT POTENTIAL. UPSIDE IN RENTS.
 
Primary Type: Multifamily
Garden/Low-Rise

No. Units: 56
Building Size: 47,600 SF
Lot Size: 3.90 Acres
Occupancy: 95.00%
Price: $4,999,990
Price/Unit: $89,285.54
GRM: 10.86
Cap Rate: 6.9%
Year Built: 1965
 
Location Description:
NEAR 58 FWY AND UNION. CORNER LOT. REDEVELOPMENT AREA. CLOSE TO ALL.
 
 
Scheduled Gross Income: $460,500
Vacancy: $13,815
Operating Expenses: $81,140
Total Expenses: $81,140
Net Operating Income: $365,545
Debt Service: $251,811
Pre-Tax Cash Flow: $113,734
Expenses/Unit: $1,449.00
Expenses/SF: $1.70