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1700 Lincoln St 10 Unit Apartment Building $1,050,000 ($105,000/Unit) 6.22% Cap Rate Bakersfield, CA 93305
Investment Highlights
- Well Maintained 10 Unit Apartment Building
- Walking Distance to Kern Medical Hospital
- Good Unit Mix | 6 (2+2) 4 (1+1)
- Upside in Rents
Executive Summary
Weiss CRE and Kidder Mathews are pleased to present for sale 1700 Lincoln Street in Bakersfield, CA. This ten unit apartment building has six 2 bedroom 1 bath units and four 1 bedroom 1 bath units. The current cap rate is 5.68%, with a GRM of 9.92. The pro forma cap rate is 7.37%, with a GRM of 8.41. This corner property is within walking distance to the Kern Medical Hospital.
Property Facts
| Price | $1,050,000 | Apartment Style | Low-Rise |
| Price Per Unit | $105,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 6.22% | Building Size | 6,428 SF |
| Gross Rent Multiplier | 9.92 | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1962 |
| Property Subtype | Apartment | Parking Ratio | 2.33/1,000 SF |
| Zoning | R-3 - restricted Density Multiple Dwelling | ||
| Price | $1,050,000 |
| Price Per Unit | $105,000 |
| Sale Type | Investment |
| Cap Rate | 6.22% |
| Gross Rent Multiplier | 9.92 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 6,428 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1962 |
| Parking Ratio | 2.33/1,000 SF |
| Zoning | R-3 - restricted Density Multiple Dwelling |
Amenities
Unit Amenities
- Air Conditioning
- Range
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 2+1 | 6 | - | - |
1 1
Property Taxes
| Parcel Number | 128-170-11-00-3 | Improvements Assessment | $923,250 |
| Land Assessment | $53,060 | Total Assessment | $976,310 |
Property Taxes
Parcel Number
128-170-11-00-3
Land Assessment
$53,060
Improvements Assessment
$923,250
Total Assessment
$976,310
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1700 Lincoln St
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