Property Details
About this Property
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.
MLS Listing Information
MLS #
CRGD24198522
MLS Source
California Regional MLS
Days on Site
80
Interior Features
Appliances
Other
Parking, School, and Other Information
Garage/Parking
Garage: 0 Car(s)
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 2 | 14 | – |
Neighborhood: Around This Home
Neighborhood: Local Demographics
Nearby Homes for Sale
116 Beardsley Ave is a Residential Income in Bakersfield, CA 93308. This – square foot property sits on a – Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $1,650,000 and was built in 1969. This address can also be written as 116 Beardsley Ave, Bakersfield, CA 93308.
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This listing information is up-to-date as of October 10, 2024. For the most current information, please contact Karine Haneyan, (818) 445-8900
