S H Garden Apartments 3143 S H St 24 Unit Apartment Building $4,808,945 CAD ($200,373 CAD/Unit) 6.45% Cap Rate Bakersfield, CA 93304

Marcus & Millichap are pleased to present the opportunity to acquire a well-maintained 24-unit multifamily property located at 3143 S H Street in Bakersfield, CA. (APN: 023-172-19-01-6). This two-story garden-style property was built in 1968 and has been renovated through the years of ownership, offering a clean, professionally managed asset with a total of 20,760 rentable square feet on a 0.74-acre lot. The property consists of a strong unit mix of (23) two-bedroom / one-bathroom and (1) one-bedroom/one-bathroom apartments, providing strong tenant appeal in a submarket with steady rental demand. On-site amenities include a large, well-maintained swimming pool and a high-performing laundry facility that generates additional income.
Located along the South H Street corridor, the property enjoys high visibility and near access to Highway 99, public transportation, and major arterial roads. Residents benefit from proximity to major amenities, including Valley Plaza Mall, Walmart, Target, and several grocery stores. The neighborhood is also surrounded by public parks, schools, and community services, making it an attractive rental location for families and working professionals alike. The S H Bakersfield submarket is known for its mix of residential stability, retail convenience, and proximity to employment centers that support long-term tenant retention and consistent occupancy rates.
This offering presents a compelling value-add opportunity for investors. Current rents are below market levels, allowing new ownership to unlock immediate upside through targeted rent adjustments and minor interior upgrades. With solid in-place income, desirable unit layouts, and strong supporting demographics, 3143 S H Street is a rare chance to acquire a stabilized multifamily asset with proven performance and meaningful potential for increased returns in one of Bakersfield’s most established and accessible rental corridors.