116 Beardsley Avenue

Bakersfield, CA 93308

$1,650,000
Price
2
Beds
14
Baths
10,064 Sq. Ft.
$164 / Sq. Ft.
10,064
Sq. Ft.
$164
per Sq. Ft.

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.
  1. 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 Pool
No
Total Units
14.0
Lot Size Source
Assessor
Property Attached YN
true
Common Walls
2+ Common Walls
New Construction
No
Average Studio Area Units
Square Feet
LISTING UPDATED: 10/10/2024 09:18 AM

Property Details for 116 Beardsley Avenue

StatusActive
MLS #GD24198522
Days on Market75
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Apartment
Year Built1969
Lot Size0.45 AC / 19,602 SF
CountyKern County

Building Information for 116 Beardsley Avenue

Stories2Residences-Year Built1969Building Size-Lot Size0.45 AC / 19,602 SF

Property Information for 116 Beardsley Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $179,580
  • Gross Scheduled Income: $179,580
  • Net Operating Income: $141,024
Expense Details
  • Operating Expense: $38,556
  • Electric Expense: $0
  • Insurance Expense: $9,000
  • Professional Management Expense: $0
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $38,995
Tax / Assessment Info
  • Tax Block: B
  • Tax Tract Number: 0
  • Tax Census Tract: 4.00
  • Tax Lot: 44
Community / Development
Community / Development
  • Community Features: Curbs, Sidewalks, Street Lights
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Inside
Exterior Features
  • Entry Location: Front door
  • Pool Features: None
Land/Lot Info
  • Lot Features: 0-1 Unit/Acre, Lot 10000-19999 Sqft
  • Land Lease: No
  • Levels: Two
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Uncovered Spaces: 17
Unit Information
Unit 1
  • Unit Type Units Total: 14
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $141,024
  • Unit Type Total Rent: $179,580
  • Unit Type Pro Forma: 197520
  • Unit Type Type: 1
Unit Information
  • Number Of Units Leased: 14
  • Rent Controlled: Yes
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 15
  • Number Of Separate Gas Meters: 14
  • Number Of Separate Water Meters: 1

Property History for 116 Beardsley Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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.

Similar Homes

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116 Beardsley Avenue is a multi-family home for sale in Bakersfield, CA 93308. This property was listed for sale on October 8, 2024 by John Hart Real Estate, it's currently listed at $1,650,000. It has been on the market for a total of 75 days and was last sold on May 11, 2015. This listing's school districts are Kern Union High School District, Beardsley Elementary School District. Nearby schools include North Beardsley Elementary School, Beardsley Junior High School and North High School. 116 Beardsley Avenue is a 2-bed, 14-bath, 10,064 sqft multi-family home built in 1969.

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Listing Courtesy of John Hart Real Estate

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.