720 Terrace Way

    Bakersfield, CA 93304
    • $3,900,000
    • STATUS: Active
    • ON SITE: 89 days
    • ID#: IG18150246
    UPDATED: 38 min ago
    $3,900,000
    • 0
      BEDS
    • 3.96
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 46,098
      SQFT
    • $85
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1965
    County:

    School Ratings & Info

    Description

    Bakersfield Multi-unit Opportunity! 56 Apartment units on a 3.96 acre lot. Seller has done significant repairs throughout each unit and more work is still in process on the exterior. These 1966 construction units consist of identical 2 Bedroom and 1 Bath each with 750sqft. of rentable space. Includes carports and a common laundry unit. This property has good access and exposure. This is the investment for you. Property is right next to HWY 58 currently being extended and a few minutes from downtown, The County Fairgrounds and main shopping centers.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-09-20T22:29:35.237. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
    www.pismohomes.com/homes/84948443

    720 Terrace Way Bakersfield, CA 93304

    • Price: $3,900,000
    • Status: Active
    • Updated: 38 min ago
    • ID#: IG18150246
    0
    Beds
    0
    Baths
    0
    ½ Baths
    3.96
    Acres
    46,098
    SQFT
    $85
    $/SQFT
    1965
    Built
    Neighborhood:
    BKSF - Bakersfield
    County:
    Kern
    Area:
    BKSF - Bakersfield
    Property Description
    Bakersfield Multi-unit Opportunity! 56 Apartment units on a 3.96 acre lot. Seller has done significant repairs throughout each unit and more work is still in process on the exterior. These 1966 construction units consist of identical 2 Bedroom and 1 Bath each with 750sqft. of rentable space. Includes carports and a common laundry unit. This property has good access and exposure. This is the investment for you. Property is right next to HWY 58 currently being extended and a few minutes from downtown, The County Fairgrounds and main shopping centers.
    Exterior Features

    Carport Spaces 51.00 Construction Materials Stucco Fence YN Yes Fencing Wire Lot Features Corner LotFront YardLawnLot Over 40000 Sqft Lot Size Dimensions 3.96 Lot Size Source Assessor Lot Size Units Acres Parking Total 64.00

    Interior Features

    Condo Area Units Square Feet Cooling Central Cooling YN Yes Laundry Features CommunityGas & Electric Dryer HookupIndividual Room

    Property Features

    Accounting Type Actual Additional Parcels Description 0115035 Additional Parcels YN Yes Asset Class Multi-Family Building Area Units Square Feet Building Status Existing Cap Rate 7.13 Country Us Current Use Comments 90% Occupancy Effective Gross 372300 Electric 220V In KitchenElectricity - On Property Investment Property YN Yes Land Lease YN No Land Use Multi-Family Laundry YN Yes Leasable Area Units Square Feet Lot Dimensions Source Assessor Max Total Area Units Square Feet Min Total Area Units Square Feet Net Operating Income 265520.00 Number Of Units Leased 50 Occupancy Occupied Operating Expense 106780.00 Property Sub Type Multi Family Special Listing Conditions Standard Tax Annual Amount 38680.00 Utilities Natural Gas AvailableSewer ConnectedWater Connected Water Source Public Year Built Source Assessor Zoning R2

    Listing provided courtesy of Anna Rodriguez of Momentum Realty.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-09-20T22:29:35.237. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
     
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