210 17th Street Bakersfield, CA 93301
0.26 Acres Lot
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW26170501
HOA Y/N No
Year Built 1935
Lot Size 0.260 Acres
Property Sub-Type Apartment
Property Description
The unit mix is a split of 5 one-bedroom / one-bath and 3 two-bedroom / one-bath units on a generous 11,325 SF lot, separately metered for gas and electricity. Offered at $925,000 — $115,625 per unit and $156 per SF — the asset trades at a fraction of replacement cost. In-place rents average $1,060 — the one-bedrooms as low as $600 — versus $1,095 and $1,195 at market. The property will be delivered with five vacant units, providing investors with an exceptional value-add opportunity to immediately renovate, lease at market rents, and accelerate NOI growth from day one.
Positioned in the 93301 zip code blocks from the Chester Avenue core, the Fox Theater, and Bakersfield High School, the property draws on the deep workforce renter base of California's 9th largest city. Current income delivers a 6.02% cap rate day one, underwriting to an 6.84% market cap as units roll — a +8% lift in gross scheduled income.
Location
State CA
County Kern
Area Bksf - Bakersfield
Interior
Fireplace No
Laundry None
Exterior
Garage Spaces 7.0
Garage Description 7.0
Pool None
Community Features Street Lights, Suburban
Total Parking Spaces 7
Private Pool No
Building
Lot Description Back Yard, Front Yard, Garden
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 00612328000
Energy Description 1640.0
Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange
Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange
Special Listing Condition Standard
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