4215 Teal, Bakersfield, California, 93304
$7,250,000
Other
We are pleased to present the Teal Townhomes, a 58 unit garden style multifamily apartment building built in 1984 located in Southwest Bakersfield (4211-4221 Teal Street - complete address/405-121-02-00-9, 405-121-01-00-6 APNs ). This expansive apartment community features 58 spacious (2+1.5) townhome units, comprised of 13 separate buildings on a spacious 2.1-acre corner lot. Each unit boasts private patios and separate gas & electric meters. The subject property is well maintained with new asphalt in 2024 and all roofs replaced in 2015. Offered well below replacement value at $129 cost per square and foot (CPSF), an in-place 5.6% CAP/8.7GRM and a 7.4% proforma CAP/7.5 GRM - with these purchase factors and additional rental upside of 15%-18%, the Teal Townhomes offers the savvy multifamily investors an exciting repositioning opportunity with solid returns on their investment.
Sewer: Public Sewer
Water Source: Public
Uncovered Spaces: 55.00
Carport Spaces: 64.00
# of Parking Spaces: 119.00
Lot Features: Lot Over 40000 Sqft
Number Of Buildings: 13
Road Frontage: City Street
Road Surface: Paved
Cooling: Has Cooling
Heating: Has Heating
Heating Type: Central
Cooling Type: Central Air
Construction: Stucco,Wood Siding
Year Built Source: Assessor
Common Walls: 2+ Common Walls
Laundry Features: Community
Laundry: Has Laundry
MLSAreaMajor: BKSF - Bakersfield
Street Address: 4215 Teal
City: Bakersfield
State: California
Postal Code: 93304
County: Kern
MLS Number: PW25036712
Year Built: 1984
Courtesy of Vanguard Property Group
Courtesy of Watson Realty
