210 17th Street,Bakersfield, CA 93301
Bakersfield, CA 93301
Description
We are pleased to present 210 17th Street, an 8-unit multifamily investment opportunity in Downtown Bakersfield. Built in 1935, the property pairs classic red-tile Spanish bungalows fronting 17th Street with a two-story rear building vintage character product that no longer gets built. The unit mix is a split of 5 one-bedroom / one-bath and 3 two-bedroom / one-bath units on a generous 11,325 SF lot, separately metered for gas and electricity. Offered at $925,000 $115,625 per unit and $156 per SF the asset trades at a fraction of replacement cost. In-place rents average $1,060 the one-bedrooms as low as $600 versus $1,095 and $1,195 at market. The property will be delivered with five vacant units, providing investors with an exceptional value-add opportunity to immediately renovate, lease at market rents, and accelerate NOI growth from day one. Positioned in the 93301 zip code blocks from the Chester Avenue core, the Fox Theater, and Bakersfield High School, the property draws on the deep workforce renter base of California's 9th largest city. Current income delivers a 6.02% cap rate day one, underwriting to an 6.84% market cap as units roll a +8% lift in gross scheduled income.
Details
| MLS # | PW26170501 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Year | 1935 |
| Days On Site | 46 |
| Listing Provided By | Lyon Stahl Investment Real Est | Ryan Gonzalez |
Features
| SQ Feet | 5,912 |
|---|---|
| Garage | 7 |
| Story(s) | 2 |
| Units | 8 |
| Building(s) | 3 |
| Acreage | 0.26 |
Exterior
| Lot Features | Back Yard, Front Yard, Garden |
|---|
Parking
| Garage Yes / No | Yes |
|---|
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Street Lights, Suburban |
|---|
Area Information
| State | CA |
|---|---|
| County | Kern |
| City | Bakersfield |
| Zip Code | 93301 |
| Area | BKSF Bakersfield |
| Listing VS Median (in 93301) | |
Price: $925,000 low | high Med: $417,500 sqft: 5,912 low | high Med: 1,431 $ / sqft: $156 low | high Med: $295 On site: 46 low | high Med: 56.5 | |
Market Activity 93301
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Learn More About This Property
| State | CA |
|---|---|
| County | Kern |
| City | Bakersfield |
| Zip Code | 93301 |
| Area | BKSF Bakersfield |
| Listing VS Median (in 93301) | |
Price: $925,000 low | high Med: $417,500 sqft: 5,912 low | high Med: 1,431 $ / sqft: $156 low | high Med: $295 On site: 46 low | high Med: 56.5 | |
