Thank you
Brad New
Vanguard Property Group
714-446-0100
Major price adjustment - seller willing to meet the market. The Chester Lane Townhomes is a true opportunity for a savvy investor; priced well below replacement cost ($131 CPSF) and 6.42 Cap/8.8 GRM on actual rents with upside to 7.67 Cap/7.95 GRM on market rents. The subject property is a 16 unit multifamily property located approximately 1/4 of a mile from the 99 frwy and California Avenue Exit (west Bakersfield), in a quiet cul-de-sac street. Built in 1984, the Chester Lane Townhomes are situated on a self-contained, gated access, 40,000 sf lot and consists of 16 spacious (2+1.5) townhome style units with approx. 950 sf each; all units have central AC/HT, patios, in-unit washer & dryer hookups, separate gas/electric meters, and RUBS in place for lower overall landlord utility expense. There is ample parking available with a total of 33 onsite spaces of which 12 are covered. There are two potential onsite storage rooms (currently unrented) for additional landlord income. The Chester Lane Townhomes is priced to sell, well below replacement - a perfect apartment investment for investors looking for cash flow and equity growth.
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Water Source : Public
Sewer : Sewer Tap Paid
Roof : Tile
Central Air
Air Conditioning
Central
Has Heating
Year Built: 1984
Building Area Total: 15,520
Roof: Tile
None
Stacked
Block
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.92
Lot Size Source: Assessor
Lot Size Square Feet: 40075
Original List Price: 1,990,000
Listing Contract Date: 2024-01-17
Listing Agreement: Exclusive Right To Sell
Garage Description: Asphalt,Covered,Gated,Paved,One Space
Lease Term: Negotiable
Source Listing Status: Pending
Source Neighborhood: BKSF - Bakersfield
Directions: . The subject property is ideally located approximately 1/4 of a mile from the 99 frwy and California Avenue Exit, in a quiet Cul- De-Sac Street
Zoning: R-2
Source Property Type: Residential Income
Area: BKSF - Bakersfield
Property SubType: Townhouse
Property Age: 40
Common Walls: 1 Common Wall,No One Above
Structure Type: Townhouse
Year Built Source: Assessor
Entry Level: 1
Entry Location: 1
Property Attached: Yes
Levels or Stories: Two
Building Total Stories: 2
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
2604 Pinon Springs Circ.., Bakersfield, CA,93309 | $209,900 | 3 | 1 | 1,174 | 89247 Sqft |
7612 Las Cruces Avenue, Bakersfield, CA,93309 | $534,999 | 3 | 2 | 2,287 | 14899 Sqft |
801 Fairway Drive, Bakersfield, CA,93309 | $770,000 | 4 | 3 | 3,137 | 13939 Sqft |
5507 Wilson Road, Bakersfield, CA,93309 | $472,000 | -- | -- | 1 | 7150 Sqft |
3900 Cooney Way, Bakersfield, CA,93309 | $420,000 | 3 | 2 | 1,585 | 6575 Sqft |
609 Taylor Street #14, Bakersfield, CA,93309 | $199,900 | 2 | 2 | 884 | 436 Acres |
4505 Gardenwood Lane, Bakersfield, CA,93309 | $355,000 | 3 | 2 | 1,385 | 8146 Sqft |
6301 Desert Hills Avenue, Bakersfield, CA,93309 | $349,900 | 3 | 2 | 1,801 | 9020 Sqft |
912 Valhalla Drive, Bakersfield, CA,93309 | $719,000 | 9 | -- | 3,696 | 6840 Sqft |
6017 Nogal Avenue, Bakersfield, CA,93309 | $775,000 | 9 | 5 | 3,464 | 9040 Sqft |
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ByOwner last updated this listing 05/06/2024 @ 00:29
MLS: PW24006820
LISTED BY: Brad New, Vanguard Property Group
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.