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940 Water St 8 Unit Apartment Building $825,000 ($103,125/Unit) 6.24% Cap Rate Bakersfield, CA 93305
Executive Summary
Located at 940 Water Street in Bakersfield, CA 93305, this well-maintained 8-unit multifamily property offers a compelling investment opportunity with a desirable unit mix of (6) one-bedroom/one-bath units and (2) two-bedroom/one-bath units. The property has undergone major recent capital improvements, including a brand new roof and a freshly redone exterior, significantly enhancing curb appeal and reducing near-term maintenance costs. With strong potential to increase value through rental income growth, this asset provides investors an opportunity to improve cash flow and overall returns while owning a stabilized property in Bakersfield.
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 | $825,000 | Apartment Style | Low-Rise |
| Price Per Unit | $103,125 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.28 AC |
| Cap Rate | 6.24% | Building Size | 4,766 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1958 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R-3 | ||
| Price | $825,000 |
| Price Per Unit | $103,125 |
| Sale Type | Investment |
| Cap Rate | 6.24% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.28 AC |
| Building Size | 4,766 SF |
| No. Stories | 2 |
| Year Built | 1958 |
| Opportunity Zone |
Yes |
| Zoning | R-3 |
Amenities
Unit Amenities
- Cable Ready
- Dishwasher
- Disposal
- Kitchen
- Oven
- Range
- Carpet
- Grill
Site Amenities
- Fitness Center
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $821.00 | 670 |
| 2+1 | 2 | $1,058 | - |
1 1
Walk Score®
Very Walkable (73)
Property Taxes
| Parcel Number | 126-041-16-00-3 | Improvements Assessment | $726,240 |
| Land Assessment | $74,460 | Total Assessment | $800,700 |
Property Taxes
Parcel Number
126-041-16-00-3
Land Assessment
$74,460
Improvements Assessment
$726,240
Total Assessment
$800,700
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940 Water St
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