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2420 Eric Way - 2420 Eric Way 4 Unit Apartment Building Offered at $715,000 at a 5.10% Cap Rate Bakersfield, CA 93306
Investment Highlights
- Desirable location
- Townhome style triplex in the rear
- Detached home with attached garage
- Carport parking
Executive Summary
Premium Northeast Bakersfield Fourplex close to Bakersfield College, minutes from highway access. Eric Way is quiet, low key street with very little traffic coming through. Tranquility for residents. Front unit is a detached home with 2car garage and fenced backyard, renting for $1700. Rear 3 units are townhome 2 bedroom/1.5 bath units renting in $1050-1250 range have carport parking. Market rent is $1400 - lots of upside. Very desirable location within walking distance from Albertson's Grocery store, restaurants, CVS drugstore and other shopping amenities.
Financial Summary (Pro Forma - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$61,512
|
$14.17
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$61,512
|
$14.17
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$25,067
|
$5.78
|
| Net Operating Income |
$36,445
|
$8.40
|
Financial Summary (Pro Forma - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $61,512 |
| Annual Per SF | $14.17 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $61,512 |
| Annual Per SF | $14.17 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $25,067 |
| Annual Per SF | $5.78 |
| Net Operating Income | |
|---|---|
| Annual | $36,445 |
| Annual Per SF | $8.40 |
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 1 | $1,700 | 1,416 |
| 2+1.5 | 1 | $1,182 | 974 |
| 2+1.5 | 1 | $1,029 | 974 |
| 2+1.5 | 1 | $1,215 | 974 |
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2420 Eric Way - 2420 Eric Way
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