map Map favorite Favorite share Share image 0 Photos print Print

116 Beardsley Avenue

Bakersfield, CA 93308

$1,650,000

List Price

N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten / sqft

1969

calendar_month Built

Property Description

This property offers an exceptional high cap rate and immediate opportunity to increase cash flow. Current rents are below market and 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. Most units have been updated in recent years. 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.

Listing Information

List Price $1,650,000
Status Active
MLS GD24198522
Type Residential Income
Subtype Apartment
Year Built 1969
Lot Size 19,602
Structure Size N/A
Courtesy Of John Hart Real Estate
Listing Agent Karine Haneyan DRE#02100210

Interior Features

Laundry Information
Location(s) Inside
Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A

Exterior Information

Maps

home_work Nearby Properties

Image

$398,999

king_bed N/A
straighten N/A
straighten 284,621,040
326 Beardsley Avenue,

Bakersfield, CA 93308
Image

$398,999

king_bed N/A
straighten N/A
straighten 6,534
326 Beardsley Avenue,

Bakersfield, CA 93308
Image

$2,157,000

king_bed N/A
shower N/A
straighten N/A
straighten 29,640
330 Roberts Lane,

Bakersfield, CA 93308
Image

$259,000

king_bed 3
shower 1
straighten 1,024
straighten 7,405
222 E Moneta Avenue,

Bakersfield, CA 93308
Image

$58,999

king_bed 2
shower 2
straighten 720
straighten N/A
113 Cedarwood Ln,

Bakersfield, CA 93308

Listing information courtesy of: Karine Haneyan, John Hart Real Estate . *Based on information from the Association of REALTORS/Multiple Listing as of Oct 8th, 2024 at 11:07 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.