Active

2700 White Lane

Bakersfield, CA 93304
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Bed 127

Bed

Bath 0

Bath

SqFt59,600

Sqft

SqFt118,483

Sqft(Lot)

We are pleased to present 2700 White Lane, a 149-unit studio apartment community located at the White Lane interchange with Highway 99 in southwest Bakersfield. Originally constructed in 1965 as a hotel, the property has been converted to multifamily use under Conditional Use Permit 23-0642, approved by the Bakersfield Planning Commission on February 29, 2024. The asset is now offered at $7,900,000, or approximately $53,020 per unit, as a court-supervised receivership sale. Attractive seller financing is available to qualified buyers. Call for terms.The two-story, L-shaped property includes approximately 61,500 square feet of building area across 149 studio units averaging approximately 413 square feet each, with kitchenette configurations in a converted-hotel format. The site offers high visibility from Highway 99, a large surface parking lot, a swimming pool, on-site laundry, and access to retail and services throughout southwest Bakersfield.The May 1, 2026 management rent roll reports 150 active entries because it includes a separate Flex Room. Excluding that non-residential entry, the residential rent roll reflects 149 apartment units, 59 vacant residential units, and approximately 60% residential occupancy. This should be viewed as an active lease-up and operational repositioning opportunity, not a stabilized apartment investment. A new owner can create value by completing the remaining site work, continuing the resident transition, leasing the vacant units with disciplined screening, and improving collections and operating performance.Meaningful capital has already been invested in the property. Seller-provided materials report that the fire sprinkler and alarm systems have been completed, and a City of Bakersfield receipt confirms the receiver paid a $491,700 park fee on March 2, 2026. Two recent third-party bids provide budget references for portions of the remaining exterior, accessibility, and site work: $394,284 from Diamond Peak Construction and $461,291 from Pyramid Construction. The bids have different scopes and exclusions, so buyers should review the plans, permits, public-works requirements, utility work, bid exclusions, and remaining CUP conditions during due diligence.The local rent story is supported by the OM rent comparable set and the property's housing-assistance component. The updated model assumes $1,095 in potential monthly rent per unit, while the OM's local studio rent comparables range from $955 to $1,095 per month. The Bakersfield Housing Authority has approved contract rents at the property up to $1,095 per month, providing additional support for the rent assumption subject to buyer verification and applicable program requirements.With 149 units, a court-supervised sale process, an approved multifamily entitlement, seller financing availability, a low acquisition basis, a paid $491,700 park fee, and current third-party site-work bids, 2700 White Lane offers a clear value-add opportunity for an experienced multifamily operator prepared to complete the remaining work and execute the lease-up plan.

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Detail Ic Property Details

Property Type : ResidentialIncome

Price : $7,900,000

AD Id : 75523125

MLS Id : 26654845

Beds : 127

Lot Size : 118,483 Sqft

Living Area Size : 59,600

Year Built : 1965

County : Kern

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Feature Features

  • Bedroom Information

    Total beds: 149

    Bathroom Information

    Total Baths: 149

  • Building Information

    Year Built: 1965
    Building Area Total: 59600
    Stories: 2
    Private Pool: No

  • Lot Information

    Main Square Feet: 118483 Lot Size Acres: 2.72 Lot Size Source: Assessor Lot Size Square Feet: 118,483

  • Listing Price Information

    Listing Price: $7900000
    Original Price: $9950000

  • Tax Information

    Parcel Number: 40510110006

  • Location Information

    Direction: North of White Lane and East of Hughes Lane
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508 El Prado, Bakersfield, CA, 93304 $254,800 2 1 992 992 SqFt
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The information being provided by Miami Association of REALTORS® is for the consumer's personal, non-commercial use. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the Miami Association of REALTORS®. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by Miami Association of REALTORS® and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright 2026 Miami Association of REALTORS®. All rights reserved.

ByOwner last updated this listing 07/23/2026 @ 06:19

MLS: 26654845 LISTED BY: Filip Niculete, Marcus & Millichap 818-212-2700 SOURCE: CRMLS

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