$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
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CRMLS #GD25024858
Listed
$1,595,000
-3.33%
02/04/2025
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CRMLS #GD24198522
Removed
$1,650,000
10/08/2024
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CRMLS #GD24198522
Listed
$1,650,000
Schools & Community
Elementary school:
Unknown
Middle school:
Unknown
High school:
Unknown
Community features: Curbs, Street Lights, Sidewalks
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
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