931 Monterey St
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931 Monterey St
4 Unit Apartment Building $1,580,265 CAD ($395,066 CAD/Unit) 8.43% Cap Rate Bakersfield, CA 93305
Investment Highlights
- 4-bedroom 2 bath per unit
- Section 8 tenancy
- 100% fully renovated structure with new plumbing, electrical, lighting, HVAC, interior and exterior finishes.
- Low Vacancy
- Each tenant prequalified by Housing Authority
Executive Summary
Situated at the intersection of Monterey and Owens Street in Southeast Bakersfield, 931 Monterey stands as a Quadruplex Multi-Family unit, offering approximately 5,280 square feet of living space across four distinct four-bedroom, two-bathroom units. Recently renovated to its entirety, the property boasts brand-new plumbing, electrical systems, lighting, HVAC units, and both interior and exterior finishes, ensuring modern comfort and quality. The surrounding area experiences consistently low vacancy rates and accommodates Section 8 tenancy, with each tenant thoroughly prequalified by the Housing Authority. Zoned as R-2 for Multi-Family purposes, this property represents a compelling and fully upgraded opportunity for multi-unit living in a prime location in Southeast Bakersfield.
Financial Summary (Actual - 2023) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$160,134
|
$30.33
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$160,134
|
$30.33
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$26,931
|
$5.10
|
| Net Operating Income |
$133,203
|
$25.23
|
Financial Summary (Actual - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $160,134 |
| Annual Per SF | $30.33 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $160,134 |
| Annual Per SF | $30.33 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $26,931 |
| Annual Per SF | $5.10 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $133,203 |
| Annual Per SF | $25.23 |
Property Facts
| Price | $1,580,265 CAD | Property Subtype | Apartment |
| Price Per Unit | $395,066 CAD | Apartment Style | Low Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 8.43% | Lot Size | 0.17 AC |
| Gross Rent Multiplier | 9.87 | Building Size | 5,280 SF |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1991/2023 |
| Price | $1,580,265 CAD |
| Price Per Unit | $395,066 CAD |
| Sale Type | Investment |
| Cap Rate | 8.43% |
| Gross Rent Multiplier | 9.87 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 5,280 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1991/2023 |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
Site Amenities
- Fenced Lot
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 4 | $3,512 CAD | 1,250 |
PROPERTY TAXES
| Parcel Number | 015-360-06-00-1 | Improvements Assessment | $774,754 CAD (2024) |
| Land Assessment | $142,003 CAD (2024) | Total Assessment | $916,757 CAD (2024) |
PROPERTY TAXES
Parcel Number
015-360-06-00-1
Land Assessment
$142,003 CAD (2024)
Improvements Assessment
$774,754 CAD (2024)
Total Assessment
$916,757 CAD (2024)
zoning
| Zoning Code | R-2 ((R-2) Multi-Family Zoning) |
| R-2 ((R-2) Multi-Family Zoning) |
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