Property History
Property Type
Property Type
Property Subtype
Marketing Description
40 Unit Multi-Family Apartment, Mobile Home, and Commercial units on ±2.61 Acres of land in Bakersfield, CA. Property consists of multiple structures totaling ±19,515 SF including (6) apartment type buildings with multiple units, (1) SFR, (2) commercial buildings and (16) mobile home spaces. The property has (3) studio units, (8) 1 bed/1 bath units, (10) 2 bed/1 bath units, (1) 3 bed/2 bath unit, (1) SFR unit, (16) generous-sized mobile home spaces, and (4) commercial spaces. Each multi-family unit has separate gas & electric meters, all units have private rear patio/backyards, mobile home lots are spacious with existing pads poured, and all roads throughout are paved. Each lease term is typically MTM, noting tenants to pay their own utility & hot water, and separate electric meter. There are (2) commercial buildings that are fully leased; #335 operates as a church and #327-329 has been a long-term Smoke Shop who recently expanded, and extended the lease by 5 additional years showing their commitment to the space. The apartments are located in North Bakersfield with the Meadows Apartment and Amazon Distribution Center just North of the property. There are Elementary, Middle School and High School and local colleges within a few miles of the property.
The value-add opportunity consists of addressing the under-market rent of (10) tenants by very minimal amounts, extending lease length over the next 6-12 months for the (5) tenants at market rates, and leasing the remaining (25) units totaling 62.5% of the property. Value-add opportunity with actual rents of $140,148/year collected plus upside potential. After addressing the vacancies alone, the annual income is $324,351 (231% upside). After addressing the undermarket units, this deal has potential annual income of $365,580. Unique investment offering easy-to-rent small spaces within an under-built market offering a strong need for these type of units. Once stabilized, the deal offers a 12.6% Cap rate, 26.45% cash-on-cash return when leveraged with 30% down, which produces a 2.7 Debt Coverage Ratio!
BONUS APN/Structure: 323 1/2 is on a sperate APN valued at $120k that is included in the sale price!
Investment Highlights
- Value Add Cash Cow | TEEN Cap Rate After Stabilized
- ±19,515 SF Total on ±2.61 Acres
- 40 Units | (15) Freestanding Buildings
- Leased Investment w/ Long-Term Tenants
- (3) Studio | (8) 1 Bed/1 Bath | (10) 2 Bed/1 Bath | (1) 4 SFR
- (1) 3 Bed/2 Bath | (15) Mobile Home Spaces | (4) Commercial Spaces
- Ample Parking, Quality Tenants, & Great Exposure
- Units Equipped w/ Separate HVAC's & Meters
- Well-Known Location @ Center Of Town
- Long-Term Tenants | Low Turnover | Low Maintenance
- Easy Access | Separate Suites | Multiple Configurations
- Easy Access from Surrounding Major Corridors
Property Type
Property Type
Asking Details
Asking Cap Rate
Marketing Description
CVPA is pleased to have been chosen to exclusively present for sale this rare opportunity to acquire a mixed-use multi-family/commercial property. Consisting of 22 apartment units, 16 mobile home spaces & 2 commercial buildings, the offering has 18, 715 Sq. Ft. of rentable square footage and sits on almost 3 acres of land. There is tremendous upside in this property with a majority of the apartment units being vacant, this allows a savvy investor to go in and rehab the units that are vacant without the headaches of dealing with evictions and handing over cash for keys.
Investment Highlights
- 200 Ft. of busy roberts lane traffic. (6,000 cars pass per day)
- 22 Apartments + 18 MH Spaces & 2 Retail Buildings
- True value-add play
Loan History
Financial History
Tax History
Contact Information
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Ownership Information
Zoning
R-2 ResidentialMulti FamilyMedium Density Residential
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View all 70 uses Last updated Mar 3, 2026 For deeper zoning details, reports are available at Zoneomics
Property Details
Contacts
Sold on
BY:
Eric Van Denk PRO
•••.•••.6896
eric@•••••••••••••••••••••••••••••.com
Listing removed on
BY:
Kevin Land PRO
•••.•••.1000
•evin@•••••••••••••••••••.com
Listing removed on
BY:
Jared Ennis PRO
•••.•••.1000
•ared@•••••••••••••••••••.com
Listing removed on
BY:
Juan Bustamante
•••.•••.9315
juan@•••••••••••••••••••••••••••••.com
CENTRAL VALLEY PROPERTY ADVISORS
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