2410 South M Street

Bakersfield, CA 93304

$1,399,899
Price
Beds
1
Bath
7,144 Sq. Ft.
$196 / Sq. Ft.
7,144
Sq. Ft.
$196
per Sq. Ft.

Description

CBRE, Inc. is pleased to exclusively present 2410 S. M Street, a twenty-unit multifamily investment property in Bakersfield, California. On the market for the first time in 20 years, The M Street Apartments are located three minutes from the Bakersfield Municipal Airport and 1 hour and 20 minutes from The City of Los Angeles. Constructed in 1984, the 20-unit 7,144 square foot building sits on a 16,988 square foot lot. 50% of the gross revenue is government subsidized via HUD and CalVet, providing...CBRE, Inc. is pleased to exclusively present 2410 S. M Street, a twenty-unit multifamily investment property in Bakersfield, California. On the market for the first time in 20 years, The M Street Apartments are located three minutes from the Bakersfield Municipal Airport and 1 hour and 20 minutes from The City of Los Angeles. Constructed in 1984, the 20-unit 7,144 square foot building sits on a 16,988 square foot lot. 50% of the gross revenue is government subsidized via HUD and CalVet, providing the new owner security of cash flow. The property has a unit mix of 20 studio/1 bath units with an uncovered parking lot and serviced by three central water heaters. The roofs on both buildings have also been replaced within the last 24 months. The M Street apartments are a true value-add investment opportunity for an astute investor looking for a hedge against inflation. Please contact listing agents for more information.
  1. Listed by Manny Nunez • DRE #01990970 • Brokerage DRE #00868409 • CB Richard Ellis, Inc.
  2. Listed by Cray Carlson • DRE #01101138 • CB RICHARD ELLIS

Property Details for 2410 South M Street

Zoning
C-1
Living Area
7144
Source Living Area
Vendor Enhanced
Area
Baker (BAKR)
Vacancy Rate
20
Lot Size Area
16928
Source Lot Size Area
Vendor Enhanced
Assessor Parcel Number
16615202003
LISTING UPDATED: 11/18/2024 01:11 PM

Property Details for 2410 South M Street

StatusActive
MLS #24-414483
Days on Market131
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1984
Lot Size0.39 AC / 16,928 SF
CountyKern County

Building Information for 2410 South M Street

Stories2Residences-Year Built1984Building Size-Lot Size0.39 AC / 16,928 SF

Property Information for 2410 South M Street

Community / Development
Community / Development
  • Number Of Units: 20
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: Studios
  • Water Heaters: Yes
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $188,784
  • Net Operating Income: $123,089.00
  • Gross Income: $198,720
  • Gross Rent Multiplier: $7.91
  • Total Annual Expense: 65695
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.39
Parking Details
Parking Details
  • Parking Garage: Unassigned, Uncovered
  • Total Parking: 0
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Wall Unit(s)
  • Heating Type: Wall
  • Equipment: Range/Oven, Refrigerator
Exterior Features
Exterior Features
  • Other Structures: None
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $828.00
  • Unit Actual Rent: $16,560.00
  • Unit Projected Rent: $16,560.00
  • Like Units: 20
Unit Details
  • Unit Type Type: 2106
  • Number of Electric Meters: 20
  • Number of Gas Meters: 0
  • Number Water Meters: 0
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,065,126.00
  • Assessed Improvement Percent: 88.83
  • Assessed Land Value: $133,967.00
  • Assessed Land Percent: 11.17
  • Assessed Total Value: $1,199,093.00

Property History for 2410 South M Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 2410 South M Street

Taxable ValueLand$133,967Additions$1,065,126Total$1,199,093
Tax Record2023$29,475 ($2,456 / month)
Home Facts
Total Finished SqFt7,144 SqFtAbove Grade Finished SqFt7,144 SqFtStories2Lot Size16,988 SqFtStyleMulti-Family Res (5+ Units)Year Built1984ZoningC-1CountyKERNAPN166-152-02-00-3

Schools near 2410 South M Street

This home is within Kern Union High School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 6
Rating
School
Distance
Frank West Elementary School
PublicK to 5

Curran Middle School
Public6 to 8

South 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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2410 South M Street is a multi-family home for sale in Bakersfield, CA 93304. This property was listed for sale on July 12, 2024 by CB Richard Ellis, Inc., it's currently listed at $1,399,899. It has been on the market for a total of 131 days and was last sold on November 21, 2005. This listing's school districts are Kern Union High School District, Bakersfield City School District. Nearby schools include Frank West Elementary School, Curran Middle School and South High School. 2410 South M Street is a 0-bed, 1-bath, 7,144 sqft multi-family home built in 1984.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of CB Richard Ellis, Inc.; CB RICHARD ELLIS

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.