$1,595,000
0.45 Acre Lot

116 Beardsley Avenue, Bakersfield, California 93308

  • Residential Income Property Type
  • 1969 Year Built
Property Description

This property offers an exceptional high cap rate of over 9% and immediate opportunity to increase cash flow. Excellent value-add property with most rents 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. Eight units have been updated in 2024 including heaters and A/C units, plumbing and more. 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.

Basic Details
Residential Income
For Sale
GD25024858
$1,595,000
1969
0.45 Acre
Active
1
Apartment
Features
: None
: Inside
: Public Sewer
$0
Address Map
CA
Kern
Bakersfield
93308
Beardsley
116
Avenue
W120° 58' 37.6''
N35° 24' 19.2''
Take Chester Ave to Beardsley Ave
BKSF - Bakersfield
R-2
Additional Information
$0
$0
$0
$0
$0
10064
: Sidewalks, Street Lights, Curbs
1
: Two
: 0-1 Unit/Acre
14
2025-02-05
2
2
: Public
Broker/Agent Information
JohnHart Real Estate
Karine Haneyan
Listing Information
G165115227
G8155
Cash,Cash to New Loan,Conventional
Active
2025-02-05T22:33:37Z
CRMLS
: Standard
2025-02-05T14:09:50Z
Agent info
Ray Millman
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Contact Agent
Contact Us
ray@millmanteam.com 310.375.1069