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1500 Owens St - 1500 Owens Street 3 Unit Apartment Building Offered at $429,000 at a 6% Cap Rate Bakersfield, CA 93305
Investment Highlights
- 2 of 3 units vacating at close — buyer sets rents from day one
- Private 1-car garage per unit
- Central AC/heat, newer windows throughout
- All 2BD/1BA units, 870 sq ft each
- Washer/dryer hookups and private patio per unit
- Conveniently located near schools, shopping, and major commuter routes ?????
Executive Summary
Fantastic triplex in central Bakersfield and this one is set up PERFECTLY for the right buyer..... ?? 2 of the 3 units are vacating at close — meaning YOU get to pick your tenants and YOU set the rents from day one. No inheriting below-market leases, no waiting on lease expirations. Walk in and set it up exactly how you want it.
All three units are 2BD/1BA, 870 sq ft each with tile flooring, private 1-car garages, washer/dryer hookups, and private patios. Central air and heat in good working order, newer windows throughout. Built 1964, conveniently located near schools, shopping, and major commuter routes.
Private garages on every unit at this price point is a REAL amenity..... the kind of thing that attracts quality tenants and keeps them. Call or text Phil at (805) 453-8353 or email phil@jordanapartmentguys.com. Rents are PROFORMA based on market rates.
Drive-by only — do not disturb tenants. Subject to interior inspection.
All three units are 2BD/1BA, 870 sq ft each with tile flooring, private 1-car garages, washer/dryer hookups, and private patios. Central air and heat in good working order, newer windows throughout. Built 1964, conveniently located near schools, shopping, and major commuter routes.
Private garages on every unit at this price point is a REAL amenity..... the kind of thing that attracts quality tenants and keeps them. Call or text Phil at (805) 453-8353 or email phil@jordanapartmentguys.com. Rents are PROFORMA based on market rates.
Drive-by only — do not disturb tenants. Subject to interior inspection.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$43,872
|
$16.81
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$1,755
|
$0.67
|
| Effective Gross Income |
$42,117
|
$16.14
|
| Taxes |
$6,891
|
$2.64
|
| Operating Expenses |
$10,064
|
$3.86
|
| Total Expenses |
$16,955
|
$6.50
|
| Net Operating Income |
$25,162
|
$9.64
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $43,872 |
| Annual Per SF | $16.81 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $1,755 |
| Annual Per SF | $0.67 |
| Effective Gross Income | |
|---|---|
| Annual | $42,117 |
| Annual Per SF | $16.14 |
| Taxes | |
|---|---|
| Annual | $6,891 |
| Annual Per SF | $2.64 |
| Operating Expenses | |
|---|---|
| Annual | $10,064 |
| Annual Per SF | $3.86 |
| Total Expenses | |
|---|---|
| Annual | $16,955 |
| Annual Per SF | $6.50 |
| Net Operating Income | |
|---|---|
| Annual | $25,162 |
| Annual Per SF | $9.64 |
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 3 | $1,178 | 870 |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
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1500 Owens St - 1500 Owens Street
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