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2528 Park Way 4 Unit Apartment Building $830,572 CAD ($207,643 CAD/Unit) 5.50% Cap Rate Bakersfield, CA 93304
INVESTMENT HIGHLIGHTS
- Location: Around the corner from Bakersfield College, one of the largest community colleges in California with 33,000+ students
- Neighborhood Appeal: Beautiful, quiet community with unique architectural charm and historic character
- Unit Mix: Two (2) large one-bedroom units with bonus basement rooms + Two (2) spacious studio units
- Rental Upside: 50% vacancy allows immediate lease-up potential with room for rent growth with current tennats
EXECUTIVE SUMMARY
Marcus and Millichap is pleased to present this 4 unit multi-family property. Nestled in one of Bakersfield’s most charming and historic
neighborhoods, located at 2528 Park Way. Built in 1935, this property offers a unique investment opportunity with timeless appeal. The
property consists of four units, thoughtfully designed to provide both functionality and comfort. The unit mix includes two spacious onebedroom
units, each approximately 850 square feet and featuring a personal laundry room plus a bonus basement room that can be used as
an additional bedroom, office, or storage. The other two units are large studios with a distinctive floorplan and approximately 544 square feet
each, creating a total rentable area of 2,787 square feet. Situated on a 6,558 square foot lot, this multifamily property has been designed to
maximize livability and long-term rental potential.
The neighborhood surrounding Park Way is known for its classic architecture and quiet tree-lined streets that have retained their original
character over the years, creating a uniquely attractive environment for tenants and investors alike. This property is conveniently located
around the corner from Bakersfield College, a long-standing institution founded in 1913 that today serves more than 33,000 students. With
constant demand for student housing and proximity to the college’s campus, the property is ideally positioned to capture consistent rental
interest while maintaining stability in occupancy.
Beyond the charm of the immediate area, the property also benefits from close access to major retail shopping centers, restaurants, and
entertainment venues. Just minutes from Downtown Bakersfield, tenants enjoy easy access to employment hubs, cultural attractions, and local
dining. The neighborhood strikes a balance between quiet residential living and connectivity to the heart of the city. With its unique
character, strong rental fundamentals, and strategic location, 2528 Park Way represents a rare chance to acquire a stable multifamily asset in
one of Bakersfield’s most sought-after areas.
neighborhoods, located at 2528 Park Way. Built in 1935, this property offers a unique investment opportunity with timeless appeal. The
property consists of four units, thoughtfully designed to provide both functionality and comfort. The unit mix includes two spacious onebedroom
units, each approximately 850 square feet and featuring a personal laundry room plus a bonus basement room that can be used as
an additional bedroom, office, or storage. The other two units are large studios with a distinctive floorplan and approximately 544 square feet
each, creating a total rentable area of 2,787 square feet. Situated on a 6,558 square foot lot, this multifamily property has been designed to
maximize livability and long-term rental potential.
The neighborhood surrounding Park Way is known for its classic architecture and quiet tree-lined streets that have retained their original
character over the years, creating a uniquely attractive environment for tenants and investors alike. This property is conveniently located
around the corner from Bakersfield College, a long-standing institution founded in 1913 that today serves more than 33,000 students. With
constant demand for student housing and proximity to the college’s campus, the property is ideally positioned to capture consistent rental
interest while maintaining stability in occupancy.
Beyond the charm of the immediate area, the property also benefits from close access to major retail shopping centers, restaurants, and
entertainment venues. Just minutes from Downtown Bakersfield, tenants enjoy easy access to employment hubs, cultural attractions, and local
dining. The neighborhood strikes a balance between quiet residential living and connectivity to the heart of the city. With its unique
character, strong rental fundamentals, and strategic location, 2528 Park Way represents a rare chance to acquire a stable multifamily asset in
one of Bakersfield’s most sought-after areas.
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $830,572 CAD | Property Subtype | Apartment |
| Price Per Unit | $207,643 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 5.50% | Building Size | 2,787 SF |
| Gross Rent Multiplier | 11.34 | Average Occupancy | 50% |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1935 |
| Zoning | R-2 | ||
| Price | $830,572 CAD |
| Price Per Unit | $207,643 CAD |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| Gross Rent Multiplier | 11.34 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 2,787 SF |
| Average Occupancy | 50% |
| No. Stories | 1 |
| Year Built | 1935 |
| Zoning | R-2 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Washer/Dryer Hookup
- Ceiling Fans
- Tile Floors
- Kitchen
- Refrigerator
- Tub/Shower
- Yard
- Basement
- Dining Room
- Family Room
- Lawn
- Large Bedrooms
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 2 | $1,351 CAD | 544 |
| 2+1 | 2 | $1,947 CAD | 850 |
1 1
PROPERTY TAXES
| Parcel Number | 007-022-06-00-7 | Total Assessment | $498,621 CAD |
| Land Assessment | $63,459 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $435,163 CAD | Tax Year | 2025 Payable 2025 |
PROPERTY TAXES
Parcel Number
007-022-06-00-7
Land Assessment
$63,459 CAD
Improvements Assessment
$435,163 CAD
Total Assessment
$498,621 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025 Payable 2025
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2528 Park Way
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