701 Planz Rd - Apartments FOR SALE


Bakersfield, CA 93304- Wible Orchard
$5,600,000 USD
661-215-8220
701 Planz Rd, Bakersfield, CA for Sale
$5,600,000 USD
Apartments - FOR SALE
1/17
null | 8.18% Cap Rate

701 Planz Rd
Bakersfield, CA 93304
Wible Orchard


HIGHLIGHTS

  • Close Proximity to Highway 99
  • Less Than 5 Miles From Bakersfield Amtrak Train Station
  • Meadows Field Airport Only 10 Miles Away

OVERVIEW

This property consists of two separate APNs: 025-210-03, 025-210-04 with a combined building square footage of 36,640 sf. The Cedarvale Apartment complex (built in 1983) features 40, two-bedroom, one bath units contained within 10 buildings in an attractive setting surrounded by mature trees and lawns. Each building has two ground floor units and two second floor units with balconies. The property is gated and located adjacent to South High school with easy access to Highway 99 which now links up to the Westside Parkway providing quick commutes to most areas of Bakersfield. There is plenty of parking with 73 spaces, 37 of which are covered. Each unit is approximately 1,000 square feet. The average rent per unit is $1,180. Newly vacant units are renting for $1,295. Bakersfield is one of the country's fastest-growing cities and it continues to grow as a top destination for businesses looking to grow and affordable housing throughout Central and Southern California.

FOR SALE DETAILS

PRICE

$5,600,000 USD

PRICE/SF

$153 USD /SF

# OF UNITS

40

PRICE/UNIT

$140,000

CAP RATE

8.18%

% LEASED

92%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Cedarvale Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1983

PARKING SPACES

73

LAND DETAILS

LAND ACRES

1.9 AC

LAND SF

82,764 SF

ZONING

R-3

APN/PARCEL ID

025-210-04-00-4

ASK ABOUT THIS PROPERTY

William GordonWatson RealtyMore Info
661-215-8220

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

William GordonWatson RealtyMore Info
661-215-8220

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.