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Matt O'Brien

matt@homecrave.com +1(619) 302-3010

$ 1,975,000

Est. payment | -/mo

9,785 SqFt

Save

$ 1,975,000

Est. payment | -/mo

Save

9,785 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 9,785 sqft

Price per Sqft $201

Subdivision Citrus Terrace Villa

MLS Listing ID 26669375

HOA Y/N No

Year Built 1982

Lot Size 0.680 Acres

Property Description

Well-positioned 18-unit multifamily investment property located in the strong rental market of North Bakersfield, offering investors the opportunity to acquire a stable, income-producing apartment building with long-term upside potential. Built in 1982, the property consists of approximately 9,785 square feet of building area situated on a 29,620 square foot lot, providing ample space for tenant parking and accessibility. The property features approximately 40 on-site parking spaces, an attractive amenity that supports tenant convenience and occupancy stability. The asset is offered at approximately $201.84 per square foot and $109,722 per unit, providing a competitive price basis compared to similar multifamily properties for sale in Bakersfield. The property is currently operating at a 6% cap rate, making it an appealing opportunity for investors seeking a cash flowing multifamily investment with reliable performance.The property benefits from 5 Section 8 units, providing stable, government-backed rental income and helping reduce vacancy risk. Bakersfield continues to experience steady demand for affordable housing, supporting consistent occupancy and long-term rental growth potential. This 18-unit apartment complex is well suited for investors seeking both passive income and future appreciation in a growing Central California rental market.The property offers convenient access to major transportation routes including California State Route 99, as well as key commercial corridors such as Airport Drive and North Chester Avenue, connecting residents to employment centers, schools, shopping, and everyday services throughout the Bakersfield area. Nearby amenities include retail, dining, and regional shopping destinations such as Valley Plaza Mall, one of the largest retail centers in the San Joaquin Valley. The surrounding neighborhood consists of established residential communities with consistent rental demand and ongoing growth, supporting long-term investment performance. This residential income property presents a compelling opportunity for investors seeking a Bakersfield multifamily investment with strong fundamentals, stable income, and future upside potential.

Location

State CA

County Kern

Area Bksf - Bakersfield

Zoning R-3

Interior

Heating Central

Fireplace No

Laundry Common Area

Exterior

Parking Features None

Total Parking Spaces 40

Building

Story 2

Entry Level Multi/Split

Sewer Other

Water Public

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 11408011006

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Erwin De Leon Exp Commercial of California, Inc. #01512017

NEARBY SCHOOL & BUSINESS

+1(619) 302-3010

matt@homecrave.com

San Diego, CA, 92124

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330 Roberts LN Bakersfield, CA 93308