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Listed by Nathan Cardenas • Compass
$5,290,000
Est. payment /mo
36,640 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 36,640 sqft
Price per Sqft $144
MLS Listing ID V1-37768
Year Built 1983
Lot Size 1.928 Acres
Source California Regional Multiple Listing Service (CRMLS)
Property Description
701 Planz Road, 'Cedarvale Apartments' presents a rare opportunity to acquire a well located garden style multifamily asset in the Bakersfield market. This offering comprises ten fourplex buildings across two parcels for a total of 40 units, providing meaningful scale within a single transaction.
The property features a uniform unit mix of two bedroom and one bathroom floor plans with tile/wood floors and granite countertops, which simplifies operations and supports consistent underwriting across the portfolio. Major capital improvements completed within the past eight years include full roof and HVAC replacements across all units.
In place rents remain meaningfully below market, representing a clear path to revenue growth through increasing leases up to market rates.701 Planz Road is well suited for investors seeking to establish or expand a position in the Bakersfield multifamily market.
The property features a uniform unit mix of two bedroom and one bathroom floor plans with tile/wood floors and granite countertops, which simplifies operations and supports consistent underwriting across the portfolio. Major capital improvements completed within the past eight years include full roof and HVAC replacements across all units.
In place rents remain meaningfully below market, representing a clear path to revenue growth through increasing leases up to market rates.701 Planz Road is well suited for investors seeking to establish or expand a position in the Bakersfield multifamily market.
Location
State CA
County Kern
Area Bksf - Bakersfield
Zoning R-3
Interior
Interior Features Balcony
Heating Central
Fireplaces Type None
Laundry Inside
Exterior
Parking Features On Site, Private, Carport, Covered
Pool None
Community Features Biking, Curbs, Sidewalks, Suburban
View Y/N No
View None
Building
Lot Description Sprinklers
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Nearby Locations
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John R Thompson
Broker/Owner | License ID: 01200900
Broker/Owner License ID: 01200900