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The Pines Apartments 1905 California Ave 24 Unit Apartment Building $2,880,000 ($120,000/Unit) 6.33% Cap Rate Bakersfield, CA 93304
Executive Summary
1905 California Avenue presents a rare opportunity to acquire a 24-unit multifamily asset in the heart of Bakersfield, California. The property consists of a desirable unit mix of nineteen (19) 2-bedroom/1-bath units, four (4) 1-bedroom/1-bath units, and one (1) 3-bedroom/1-bath unit, providing broad tenant appeal. The asset currently generates over $280,000 in gross annual income, offering investors immediate cash flow with the potential for future revenue growth through continued rent optimization and operational efficiencies. Located along a major Bakersfield corridor with convenient access to employment centers, retail amenities, schools, and transportation routes, the property benefits from strong rental demand within a growing Central Valley market. This offering represents an attractive value-add and long-term hold opportunity for investors seeking scale, income, and upside potential in one of California's most affordable multifamily markets.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,880,000 | Building Class | C |
| Price Per Unit | $120,000 | Lot Size | 0.44 AC |
| Sale Type | Investment | Building Size | 18,350 SF |
| Cap Rate | 6.33% | No. Stories | 2 |
| No. Units | 24 | Year Built | 1964 |
| Property Type | Multifamily | Parking Ratio | 1.31/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R3 | ||
| Price | $2,880,000 |
| Price Per Unit | $120,000 |
| Sale Type | Investment |
| Cap Rate | 6.33% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.44 AC |
| Building Size | 18,350 SF |
| No. Stories | 2 |
| Year Built | 1964 |
| Parking Ratio | 1.31/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R3 |
Amenities
Unit Amenities
- Heating
- Eat-in Kitchen
- Oven
- Patio
Site Amenities
- Laundry Facilities
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | 800 |
| 2+1 | 19 | - | - |
| 3+1 | 1 | - | - |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 007-120-15-00-8 | Improvements Assessment | $2,085,273 |
| Land Assessment | $143,263 | Total Assessment | $2,228,536 |
Property Taxes
Parcel Number
007-120-15-00-8
Land Assessment
$143,263
Improvements Assessment
$2,085,273
Total Assessment
$2,228,536
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