116 Beardsley Avenue, Bakersfield, CA 93308 (MLS # GD24198522)

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PRICE $1,650,000 dsIDX morgage calculator
BEDS n/a
BATHS 0
HOME SIZE 10,064 sqft
LOT SIZE 19,602 sqft

This property offers an exceptional high cap rate of 8.6% and immediate opportunity to increase cash flow. Current rents are below market and 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. Most units have been updated in recent years. 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.

DAYS ON MARKET 22 LAST UPDATED 10/10/2024
YEAR BUILT 1969 COMMUNITY Bakersfield
COUNTY Kern STATUS Active
PROPERTY TYPE(S) Residential Income


ADDITIONAL DETAILS
AREA Bakersfield
LOT 0.45 acre(s)
LOT DESCRIPTION 0-1 Unit/Acre
POOL DESCRIPTION None
SEWER Public Sewer
STORIES 2
WATER Public
ZONING R-2
MORTGAGE CALCULATOR
   

TOTAL MONTHLY PAYMENT

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Listed with John Hart Real Estate

The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. as of 10/30/24 10:21 AM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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