701 Planz Road, Bakersfield, CA, CA 93304
- $5,290,000
- List Price
- $5,290,000
- Status
- ACTIVE
- MLS#
- V1-37768
- County
- Kern
- Year Built
- 1983
- Building Square Feet
- 36,640
- Square Feet
- 83,976
- Days on Market
- 29
- Property Type
- Multifamily
- Stories
- Two Levels
- Neighborhood
- Other
Property Description
701 Planz Road, 'Cedarvale Apartments' presents a rare opportunity to acquire a well located garden style multifamily asset in the Bakersfield market. This offering comprises ten fourplex buildings across two parcels for a total of 40 units, providing meaningful scale within a single transaction.The property features a uniform unit mix of two bedroom and one bathroom floor plans with tile/wood floors and granite countertops, which simplifies operations and supports consistent underwriting across the portfolio. Major capital improvements completed within the past eight years include full roof and HVAC replacements across all units. In place rents remain meaningfully below market, representing a clear path to revenue growth through increasing leases up to market rates.701 Planz Road is well suited for investors seeking to establish or expand a position in the Bakersfield multifamily market.
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Additional Information
- Parcel Number
- 02521003001
- Rent Control
- Yes
- Gross Scheduled Income
- $545,352
- Operating Expense
- 150961
- Net Operating Income
- $394,391
- Number of Buildings
- 10
- Heat
- Central
- Cooling
- Yes
- View
- None
- Exterior Construction
- Wood Siding
- Patio
- Balcony
- Roof
- Composition, Flat
- Community Features
- Biking, Curbs, Suburban, Sidewalks
Listing courtesy of Listing Agent: Nathan Cardenas (nathan@nathansellssocal.com) from Listing Office: Compass.
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.