King Square Apartments | 1601 Lotus Ln
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King Square Apartments 1601 Lotus Ln
72 Unit Apartment Building $9,411,356 CAD ($130,713 CAD/Unit) 5.43% Cap Rate Bakersfield, CA 93307
Investment Highlights
- IRS Section 42 LIHTC Restricted. Built in 2008 With Extended Use Restrictions on Regulatory Agreement for 55 Years.
- Excellent Unit Make Up With 36-Two-Bedrooms, 33-Three-Bedrooms, and 4-Four-Bedrooms
- Unique Opportunity to Purchase 70+ Units of 2008 Construction at well below Replacement Value
Financial Summary (Actual - 2023) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| 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 (Actual - 2023) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| 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 | $9,411,356 CAD | Building Class | C |
| Price Per Unit | $130,713 CAD | Lot Size | 4.78 AC |
| Sale Type | Investment | Building Size | 78,804 SF |
| Cap Rate | 5.43% | Average Occupancy | 100% |
| No. Units | 72 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2009 |
| Property Subtype | Apartment | Parking Ratio | 1.02/1,000 SF |
| Apartment Style | Garden | Opportunity Zone |
Yes
|
| Price | $9,411,356 CAD |
| Price Per Unit | $130,713 CAD |
| Sale Type | Investment |
| Cap Rate | 5.43% |
| No. Units | 72 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 4.78 AC |
| Building Size | 78,804 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2009 |
| Parking Ratio | 1.02/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Heating
- Kitchen
- Range
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Recycling
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 36 | - | 902 |
| 3+2 | 32 | - | 1,136 |
| 4+2 | 4 | - | 1,336 |
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PROPERTY TAXES
| Parcel Number | 170-060-11-00-0 | Total Assessment | $11,641,093 CAD (2024) |
| Land Assessment | $1,317,344 CAD (2024) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $10,323,749 CAD (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
170-060-11-00-0
Land Assessment
$1,317,344 CAD (2024)
Improvements Assessment
$10,323,749 CAD (2024)
Total Assessment
$11,641,093 CAD (2024)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2023
zoning
| Zoning Code | R-2 (Residential) |
| R-2 (Residential) |
-
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Marcus and Millichap Investment Services
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King Square Apartments | 1601 Lotus Ln
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