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8.23% Cap Rate | Major Reduction | 10 Units 1700 Lincoln St 10 Unit Apartment Building $1,230,589 CAD ($123,059 CAD/Unit) 8.23% Cap Rate Bakersfield, CA 93305
Investment Highlights
- 8.23% Cap Rate!
- Walking Distance to Kern Medical Hospital
- Good Unit Mix | 6 (2+2) 4 (1+1)
- Upside in Rents
Executive Summary
Weiss CRE and Kidder Mathews are pleased to present for sale 1700 Lincoln Street in Bakersfield, CA. This ten unit apartment building has six 2 bedroom 1 bath units and four 1 bedroom 1 bath units. Current cap rate of 8.23% and GRM of 7! This corner property is within walking distance to the Kern Medical Hospital.
Price has been adjusted by $100,000 to account for any retrofitting or differed maintenance.
Price has been adjusted by $100,000 to account for any retrofitting or differed maintenance.
Property Facts
| Price | $1,230,589 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $123,059 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 8.23% | Building Size | 6,428 SF |
| Gross Rent Multiplier | 7 | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1962 |
| Property Subtype | Apartment | Parking Ratio | 2.33/1,000 SF |
| Zoning | R-3 - restricted Density Multiple Dwelling | ||
| Price | $1,230,589 CAD |
| Price Per Unit | $123,059 CAD |
| Sale Type | Investment |
| Cap Rate | 8.23% |
| Gross Rent Multiplier | 7 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 6,428 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1962 |
| Parking Ratio | 2.33/1,000 SF |
| Zoning | R-3 - restricted Density Multiple Dwelling |
Amenities
Unit Amenities
- Air Conditioning
- Range
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 2+1 | 6 | - | - |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 128-170-11-00-3 | Improvements Assessment | $1,258,999 CAD |
| Land Assessment | $72,356 CAD | Total Assessment | $1,331,355 CAD |
Property Taxes
Parcel Number
128-170-11-00-3
Land Assessment
$72,356 CAD
Improvements Assessment
$1,258,999 CAD
Total Assessment
$1,331,355 CAD
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8.23% Cap Rate | Major Reduction | 10 Units | 1700 Lincoln St
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