BAKERSFIELD, CA - CLEAN 9 UNIT APARTMENT OFF MARKET FOR SALE!

Kern County, Bakersfield, CA, 93306 view full address
Expired
Listed at: September 29th, 2023
Price
$749,900
ARV
$1,200,000
Sq. Footage
4678
Type
Multifamily
Parking
Attached Garage
Year build
1948
Lot size
0.33 acres
Bedrooms
10
Bathrooms
9
Half Bathrooms
0
Summary

9 Unit Apartment in Bakersfield CA

Off Market

UNIT MIX

8 Units: 1 bed 1 bath

1 Unit: 2 bed 1 bath

10 single car garages

5 uncovered parking spaces

All are separately metered for electric and gas

Square footage total: 4678 sqft total

# of buildings: 5 buildings total on one parcel

Lot Size: .33 acres

Year Built: 1948 / Remodeled 1995

 

Property Notes: 

Rent roll and lease agreements provided to Verified buyers

Great Upside / property brings in about $81,000 in annual rents / can be raised

ALL tenants except 1 are month to month.

Delivered with Tenant occupied.

Market rents: $1000 for 1 bed 1 bath (with private garage) (rent comps reference: rentcast.io)

Market Rents: $1200 for 2 bed 1 bath with garage (rent comps reference: rentcast.io)

Potential to convert a number of the garages to studio or 1 bed 1 bath for additional cashflow since there is 15 parking spaces combined covered and uncovered. / only 9 units.

current income: $81,000/year

Potential income: $110,400 year (excluding any ADU conversions)

 

ASKING PRICE: $745,000

$83,333/unit +/-

BUY IT NOW: 750,000

 

Photo Link HERE

 

--------------------------------- Multi Family Sale COMPS --------------------------------

 

COMP #1

Address: 1018 Miller St Bakersfield 

1 bed 1 baths all units

Sold Price: $1,200,000 (all remodeled units)

Sold on: closing escrow / pending at 120k a unit

10 Units

all 1 bed 1 baths

No garages

 

Comp #2

Address: 401 Irene st

Sold Price: 886,500

9 units

sold on: June 11, 2024

 

Comp #3

Address: 601-611 Eye St

Sold price: $1,200,000

Sold on: 07/06/23

10 units

9- 1 bed 1 baths

1- 2 bed 1 bath

no garages for tenants

 

 

walkthroughs are available for serious inquiries ONLY!

Call or text Motuma for more details on this

209-219-2459

 

WHOLESALE UNDER CONTRACT / ASSIGNING TO CASH BUYER.

Realtors-add your commission on top of our sales price

Click the BUY IT NOW button to lock this one down and avoid bidding wars

Must use seller's escrow company

Buyer pays all closing costs

The deal is not final until EMD is received

Realtors/wholesalers add commission to our asking price

 

 

.*Important Notes & Disclaimers*
Approaching the seller at any point is prohibited. Anyone who does will be permanently removed from our buyer's list AND black-listed with all other major wholesalers in the area. Further, such contact will be viewed as intentional interference with a contract and may result in legal action being brought against you.
We have a contract with the seller of this property and are therefore a PRINCIPAL in the transaction. We do NOT have a listing agreement with the seller; this is NOT a 'pocket listing.'
Buyers are encouraged to perform their own due diligence regarding properties advertised by TLC Home Deals Information provided by TLC Home Deals about advertised properties is taken from public records and other sources, is provided in good faith, but is not guaranteed to be accurate. After renovated value ("ARV"), estimated repair costs, and other such figures are simply estimates; as such, buyers should conduct their own analysis and diligence regarding all aspects of the property prior to offering/purchasing.

 

 

 

Must use seller's escrow company Buyer pays all closing costs The deal is not final until EMD is received Realtors/wholesalers add commission to our asking price DISCLAIMER: This is an assignment of contract. A legally binding purchasing contract with a memorandum has been signed with the Seller giving this company exclusive rights to purchase the property. This company does not represent the owner. We are NOT brokers and do not represent ourselves as such. DO NOT CONTACT THE OWNER/SELLER without our explicit consent. Any attempts to renegotiate or make contact with the owner will result in legal action.
Street View
Location
current deal
comparables
#2
available
$123k
sold
$99k
Bedrooms
Bathrooms
Sq. footage
Deals nearby
Available
Sold
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