Address not disclosed, Bakersfield, California, 93304
$7,250,000
Multi-family
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.
Number of Units : 58
Unit 1 : Number of Unit(s) : 1
Unit 1 : Total Bedrooms : 2
Unit 1 : Total Bathrooms : 2
Unit 2 : Number of Unit(s) : 2
Unit 2 : Total Bedrooms : 2
Unit 2 : Total Bathrooms : 2
Unit 3 : Number of Unit(s) : 3
Unit 3 : Total Bedrooms : 2
Unit 3 : Total Bathrooms : 2
Unit 4 : Number of Unit(s) : 4
Unit 4 : Total Bedrooms : 2
Unit 4 : Total Bathrooms : 2
Exterior : Stucco,Wood
Site : Curbs,Sidewalks
Cooling : Central Forced Air
Zoning : Assessor
Street Address: Address not disclosed
City: Bakersfield
State: California
Postal Code: 93304
County: Kern
MLS Number: PW25036712
Courtesy of Vanguard Property Group
Courtesy of Watson Realty
