600 Hosking Ave
Bakersfield, CA 93307
Golden Valley Luxury Apartments · Multifamily Property For Sale · 168 Units

Golden Valley Luxury Apartments boasts a gated luxury community with 100% occupancy in these 168 units, market rent growth of 5-7% per year, and resort-style grounds with beautiful townhome apartments and multiple green spaces, parks, pools with cabanas, a large gym and clubhouse, children’s playground, basketball court, field sports area, picnic tables with barbecues, pet park, and more. The property is fully stabilized, with minimal deferred maintenance, and a strong market and brand presence. This Class A asset built was in 2008, with the common areas upgraded in 2015. Golden Valley has no like-quality competition within several miles, providing excellent market access, unit demand, and steady rent growth. Over 800,000 square feet of high-quality retail, dining, and entertainment is scheduled just a half-mile from the property. The new construction includes the newest Bass Pro Shops destination store in California, a large 100,000 square foot store for outdoor enthusiasts. This major development will bring hundreds of jobs and incredible shopping, dining, and entertainment options within a short walk or drive from the Golden Valley property. The asset has zero/limited like-quality rental competition within several miles. The property enjoys enviable walking-distance proximity to multiple local schools, and it is a half-mile from the major freeway for commuting convenience. Existing area amenities just minutes away include Wal-Mart Supercenter, Costco, Lowes, grocery stores, restaurants, dry cleaners, banks, coffee shops, and retailers. Golden Valley’s main arterial, Hosking Avenue, is Bakersfield’s newest 4-way interchange to the 99 Freeway. Golden Valley Luxury Apartments is located in Bakersfield, CA, ranked in 2018 by the California Department of Finance as one of the State’s Top 10 Fastest Growing Cities – in fact, Bakersfield ranked 2nd in population growth, tying with San Francisco. Bakersfield and Kern County are economically diverse and offer more stability from economic fluctuations with large government and military footprints; major logistics, trucking, and warehousing infrastructure; healthcare and professional services; a range of energy investments in oil, solar, and wind; and one of the nation’s largest agriculture industries. This package of 168 units gives the Buyer a majority-controlling position over the HOA, ensuring the Buyer's property manager can easily oversee leasing, tenant management, and common area services. Two fully furnished Model Apartment units are included in these 168 units, along with a fully furnished on-site property management office lease for turnkey ownership. These 168 units are fully occupied, with typical pre-leasing lists for future tenants. Financials, rent roll, and certified commercial appraisal available. Existing debt can be assumed by Buyer if desired - highly attractive interest-only commercial loan at 4.36% fixed through Oct. 2024 provides excellent ROI and cash flow. Seller can provide 168 units free and clear if Buyer desires to procure their own debt or buy all-cash.