116 Beardsley Avenue
$1,650,000
2
14
10,064
10,064
$164
Description
This property offers an exceptional high cap rate of 8.6% and immediate opportunity to increase cash flow. Current rents are below market and poised for a 10% increase in 2025, with market rents reaching up to $1,375 per month, unlocking substantial revenue potential. Each unit comes with separate utility meters, making it easier to manage costs, while the roof-mounted AC units with central heating and air conditioning provide added convenience and energy efficiency. Most units have been updated...This property offers an exceptional high cap rate of 8.6% and immediate opportunity to increase cash flow. Current rents are below market and poised for a 10% increase in 2025, with market rents reaching up to $1,375 per month, unlocking substantial revenue potential. Each unit comes with separate utility meters, making it easier to manage costs, while the roof-mounted AC units with central heating and air conditioning provide added convenience and energy efficiency. Most units have been updated in recent years. All units come with a parking, plus 2 guest parking spots; easily reline the lot to create even more parking spaces to increase tenant satisfaction and appeal. This is a rare opportunity for investors looking for a property with strong income growth, low operating costs, and increasing market demand. The laundry room is not being used; this can add more income if operated. The street is part of the city's beautifying project adding additional value for the years to come. Additionally, two new apartment buildings are planned in the area, boosting future demand and property value. Close to shopping and freeways, the building has a very high occupancy rate and quick turnover.
- Listed by Karine Haneyan • DRE #02100210 • Brokerage DRE #01873088 • John Hart Real Estate • Karinehaneyanjh@gmail.com
Property Details for 116 Beardsley Avenue
Parking Spaces Total
17
Private PoolNo
Total Units14.0
Lot Size SourceAssessor
Property Attached YNtrue
Common Walls2+ Common Walls
New ConstructionNo
Average Studio Area UnitsSquare Feet
LISTING UPDATED: 10/10/2024 09:18 AM
Property Details for 116 Beardsley Avenue
Status | Active |
---|---|
MLS # | GD24198522 |
Days on Market | 44 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income / Apartment |
Year Built | 1969 |
Lot Size | 0.45 AC / 19,602 SF |
County | Kern County |
Building Information for 116 Beardsley Avenue
Stories2Residences-Year Built1969Building Size-Lot Size0.45 AC / 19,602 SF
Property Information for 116 Beardsley Avenue
Property History for 116 Beardsley Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 116 Beardsley Avenue
Taxable ValueLand$94,258Additions$701,075Total$795,333
Tax Record2023$16,752 ($1,396 / month)
Home Facts
Total Finished SqFt10,064 SqFtAbove Grade Finished SqFt10,064 SqFtStories2Lot Size19,602 SqFtStyleMulti-Family Res (5+ Units)Year Built1969ZoningR-2CountyKERNAPN114-250-41-00-2
Schools near 116 Beardsley Avenue
This home is within Kern Union High School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 6 | |||
Public - | 7 to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
North Beardsley Elementary School PublicK to 6 | ||
Beardsley Junior High School Public7 to 8 | ||
North High School Public9 to 12 | ||
Vista Continuation High School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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