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116 Beardsley Avenue

Bakersfield, CA 93308

– beds
– baths
– sqft
~1/2 acre lot
1969 build
– on site

This property offers an exceptional high cap rate of 8.6% and immediate opportunity to increase cash flow. Current rents are below market and poised for a 10% increase in 2025, with market rents reaching up to $1,375 per month, unlocking substantial revenue potential. Each unit comes with separate utility meters, making it easier to manage costs, while the roof-mounted AC units with central heating and air conditioning provide added convenience and energy efficiency. Most units have been updated in recent years. All units come with a parking, plus 2 guest parking spots; easily reline the lot to create even more parking spaces to increase tenant satisfaction and appeal. This is a rare opportunity for investors looking for a property with strong income growth, low operating costs, and increasing market demand. The laundry room is not being used; this can add more income if operated. The street is part of the city's beautifying project adding additional value for the years to come. Additionally, two new apartment buildings are planned in the area, boosting future demand and property value. Close to shopping and freeways, the building has a very high occupancy rate and quick turnover.

Listed By CRMLS_CA / Karine Haneyan / John Hart Real Estate / Karinehaneyanjh@gmail.com

Last checked: Checking… • Last updated Oct 10, 2024 •

MLS# GD24198522 —

The Building

Year Built:

1969
Year Built Source:

Assessor
New Construction:

No
Entry Level:

1
Common Walls:

2+ Common Walls
Building Area Total:

10064.00
Building Area Units:

Square Feet
# of Buildings:

2
Total Number Of Units:

14
Stories Total:

2
# of Separate Gas Meters:

14
# of Separate Water Meters:

1
# of Separate Electric Meters:

15

Interior

Levels:

Two
Entry Location:

Front door
Laundry:

Inside
Laundry:

1

Location

Directions:

Take Chester Ave to Beardsley Ave
Latitude:

35.40532700
Longitude:

-119.02289300

The Property

Property Type:

Residential Income
Subtype:

Apartment
Zoning:

R-2
Lot Features:

0-1 Unit/Acre, Lot 10000-19999 Sqft
Lot Size Area:

19602.0000
Lot Size Acres:

0.4500
Lot Size SqFt:

19602.00
Lot Size Source:

Assessor
Property Attached:

1
Additional Parcels:

No
Land Lease:

No

Listing Agent

Contact info:

Taxes

Tax Block:

B
Tax Census Tract:

4.00
Tax Lot:

44

The Listing

Special Listing Conditions:

Standard
Parcel Number:

11425041002

Utilities

Sewer:

Public Sewer
Water Source:

Public

The Community

Senior Community:

No
Features:

Curbs, Sidewalks, Street Lights
Pool:

None
Private Pool:

No

Parking

Parking Spaces:

17.00
Uncovered Spaces:

17.00

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Transit Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
10/8/24 Oct 8, 2024	Listed / Active	CRMLS_CA	$1,650,000

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This multifamily located in North Bakersfield, Oildale, CA 93308 is currently for sale for $1,650,000. 116 Beardsley Avenue is a – square foot multifamily with – beds and – baths that has been on Estately for 48 days. 116 Beardsley Avenue is in the North Bakersfield neighborhood of Oildale and has a WalkScore® of 59, making it somewhat walkable. This multifamily is in the attendance area of Beardsley Junior High School, North Beardsley Elementary School, and North High School.

Listing Courtesy of: CRMLS_CA and John Hart Real Estate. Based on information from California Regional Multiple Listing Service, Inc. as of 23:57 on Nov 24.

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.