tomo logo

$1,595,000

Beds
Unknown
sq ft
Unknown

116 Beardsley Ave, Bakersfield, CA 93308

116 Beardsley Ave

Bakersfield, CA 93308

  • 18 days on market
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.

Details

Property type

Apartment

Lot size

0.45 acres

Price per sq ft

Unknown

Year built

1969

Price History

02/05/2025
CRMLS

CRMLS #GD25024858

Listed
$1,595,000
-3.33%
02/04/2025
CRMLS

CRMLS #GD24198522

Removed
$1,650,000
10/08/2024
CRMLS

CRMLS #GD24198522

Listed
$1,650,000

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Curbs, Street Lights, Sidewalks

Status: Active

Tomo last checked: 02/24/2025 at 2:30 PM

Listing updated: 02/05/2025 at 2:35 PM

Listed by: Karine Haneyan, JohnHart Real Estate Phone #: (818) 246-1099

MLS: CRMLS #GD25024858

CRMLS logo

Recently listed in Bakersfield

$469,999|3 bd|2.0 ba|House
$434,900|3 bd|2.0 ba|House
$449,900|3 bd|2.5 ba|House
$500,000|3 bd|2.5 ba|House
$344,950|3 bd|2.0 ba|House
$280,000|2 bd|1.0 ba|House
$1,475,000|4 bd|3.5 ba|House