Bakersfield, CA 93308,116 Beardsley Avenue
Bakersfield, CA 93308,116 Beardsley Avenue
Bakersfield, CA 93308,116 Beardsley Avenue
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$1,595,000
Est. payment /mo
10,064 SqFt
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Key Details

Property Type Commercial

Sub Type Other

Listing Status Active

Purchase Type For Sale

Square Footage 10,064 sqft

Price per Sqft $158

MLS Listing ID CRGD25024858

HOA Y/N No

Year Built 1969

Lot Size 0.450 Acres

Acres 0.45

Property Sub-Type Other

Property Description

This property offers an exceptional high cap rate of over 9% and immediate opportunity to increase cash flow. Excellent value-add property with most rents poised for a 10% increase in 2025, with market rents reaching up to $1,375 per month, unlocking substantial revenue potential. Each unit comes with separate utility meters, making it easier to manage costs, while the roof-mounted AC units with central heating and air conditioning provide added convenience and energy efficiency. Eight units have been updated in 2024 including heaters and A/C units, plumbing and more. All units come with a parking, plus 2 guest parking spots; easily reline the lot to create even more parking spaces to increase tenant satisfaction and appeal. This is a rare opportunity for investors looking for a property with strong income growth, low operating costs, and increasing market demand. The laundry room is not being used; this can add more income if operated. The street is part of the city's beautifying project adding additional value for the years to come. Additionally, two new apartment buildings are planned in the area, boosting future demand and property value. Close to shopping and freeways, the building has a very high occupancy rate and quick turnover.

Location

State CA

County Kern

Zoning R-2

Interior

Fireplace No

Laundry Inside

Building

Sewer Public Sewer

Water Public

New Construction No

Others

Tax ID 11425041002


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Bridge MLS
Listed by Karine Haneyan • JohnHart Real Estate

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agent

Maya Hiersoux

+1(415) 971-3559

Agent | License ID: 01450016

Agent License ID: 01450016

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