REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your advisor will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listed by Karine Haneyan • JohnHart Real Estate
$ 1,595,000
Est. payment /mo
Active
116 Beardsley Avenue Bakersfield, CA 93308
10,064 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 10,064 sqft
Price per Sqft $158
MLS Listing ID GD-25024858
Year Built 1969
Lot Size 0.450 Acres
Property Sub-Type Apartment
Property Description
This property offers an exceptional high cap rate of over 9% and immediate opportunity to increase cash flow. Excellent value-add property with most rents poised for a 10% increase in 2025, with market rents reaching up to $1,375 per month, unlocking substantial revenue potential. Each unit comes with separate utility meters, making it easier to manage costs, while the roof-mounted AC units with central heating and air conditioning provide added convenience and energy efficiency. Eight units have been updated in 2024 including heaters and A/C units, plumbing and more. All units come with a parking, plus 2 guest parking spots; easily reline the lot to create even more parking spaces to increase tenant satisfaction and appeal. This is a rare opportunity for investors looking for a property with strong income growth, low operating costs, and increasing market demand. The laundry room is not being used; this can add more income if operated. The street is part of the city's beautifying project adding additional value for the years to come. Additionally, two new apartment buildings are planned in the area, boosting future demand and property value. Close to shopping and freeways, the building has a very high occupancy rate and quick turnover.
Location
State CA
County Kern
Area Bksf - Bakersfield
Zoning R-2
Interior
Laundry Inside
Exterior
Parking Features Gated
Pool None
Community Features Curbs, Sidewalks, Street Lights
Building
Lot Description Lot 10000-19999 Sqft, 0-1 Unit/Acre
Sewer Public Sewer