2115-2117 G St
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2115-2117 G St
12 Unit Apartment Building $2,598,658 CAD ($216,555 CAD/Unit) 5.76% Cap Rate Bakersfield, CA 93301
Investment Highlights
- Prime Downtown Bakersfield Location
- Spacious 1 Bedroom Units
- 2 Contiguous Parcels
Executive Summary
Central Valley Property Advisors are excited to bring to market a lucrative twelve (12) unit multifamily investment in the thriving Bakersfield Downtown Corridor, just steps from the iconic Fox Theatre and the renowned Padre Hotel. This prime asset comprises two contiguous parcels: an eight-unit building built in 2006, and a four-unit building from 1968, both featuring spacious one-bedroom, one-bathroom units designed for solid performance. Investors can seize a rare opportunity for immediate revenue growth with an 11% rental upside, ready to be capitalized on. Five of the twelve units have been tastefully remodeled, achieving top-market rents. This presents a fantastic opportunity for the new owner to capitalize on the remaining potential by completing the remodels on the other seven units and unlocking even greater rental income. This is an exceptional opportunity to acquire a robust asset with immediate cashflow.
Financial Summary (Actual - 2023) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$231,448
|
$39.56
|
| Other Income |
$3,268
|
$0.56
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$234,717
|
$40.12
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$84,928
|
$14.52
|
| Net Operating Income |
$149,789
|
$25.60
|
Financial Summary (Actual - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $231,448 |
| Annual Per SF | $39.56 |
| Other Income (CAD) | |
|---|---|
| Annual | $3,268 |
| Annual Per SF | $0.56 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $234,717 |
| Annual Per SF | $40.12 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $84,928 |
| Annual Per SF | $14.52 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $149,789 |
| Annual Per SF | $25.60 |
Property Facts
| Price | $2,598,658 CAD | Building Class | C |
| Price Per Unit | $216,555 CAD | Lot Size | 0.07 AC |
| Sale Type | Investment | Building Size | 5,850 SF |
| Cap Rate | 5.76% | Average Occupancy | 100% |
| Gross Rent Multiplier | 11.38 | No. Stories | 2 |
| No. Units | 12 | Year Built | 2006 |
| Property Type | Multifamily | Parking Ratio | 2.05/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low Rise |
| Price | $2,598,658 CAD |
| Price Per Unit | $216,555 CAD |
| Sale Type | Investment |
| Cap Rate | 5.76% |
| Gross Rent Multiplier | 11.38 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 5,850 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2006 |
| Parking Ratio | 2.05/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Double Pane Windows
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | $1,542 CAD | 500 - 600 |
1 of 1
Walk Score ®
Very Walkable (82)
PROPERTY TAXES
| Parcel Number | 003-222-08-00-3 | Improvements Assessment | $892,538 CAD (2024) |
| Land Assessment | $32,061 CAD (2024) | Total Assessment | $924,600 CAD (2024) |
PROPERTY TAXES
Parcel Number
003-222-08-00-3
Land Assessment
$32,061 CAD (2024)
Improvements Assessment
$892,538 CAD (2024)
Total Assessment
$924,600 CAD (2024)
zoning
| Zoning Code | C-C (Residential Apartments) |
| C-C (Residential Apartments) |
-
Esteban Contreras -
Eric Van Denk -
Central Valley Property Advisors
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2115-2117 G St
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