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2115-2117 G St

12 Unit Block of Flats £1,459,650 (£121,637/Unit) 5.76% Net Initial Yield Bakersfield, CA 93301

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Investment Highlights

Prime Downtown Bakersfield Location
Spacious 1 Bedroom Units

2 Contiguous Parcels

Executive Summary

Central Valley Property Advisors are excited to bring to market a lucrative twelve (12) unit multifamily investment in the thriving Bakersfield Downtown Corridor, just steps from the iconic Fox Theatre and the renowned Padre Hotel. This prime asset comprises two contiguous parcels: an eight-unit building built in 2006, and a four-unit building from 1968, both featuring spacious one-bedroom, one-bathroom units designed for solid performance. Investors can seize a rare opportunity for immediate revenue growth with an 11% rental upside, ready to be capitalized on. Five of the twelve units have been tastefully remodeled, achieving top-market rents. This presents a fantastic opportunity for the new owner to capitalize on the remaining potential by completing the remodels on the other seven units and unlocking even greater rental income. This is an exceptional opportunity to acquire a robust asset with immediate cashflow.

Financial Summary (Actual - 2023)	Annual	Annual Per SF
Gross Rental Income	£130,010	£22.22
Other Income	£1,836	£0.31
Vacancy Loss	-	-
Effective Gross Income	£131,846	£22.54
Taxes	-	-
Operating Expenses	-	-
Total Expenses	£47,706	£8.15
Net Operating Income	£84,140	£14.38

Financial Summary (Actual - 2023)

Gross Rental Income
Annual	£130,010
Annual Per SF	£22.22

Other Income
Annual	£1,836
Annual Per SF	£0.31

Vacancy Loss
Annual	-
Annual Per SF	-

Effective Gross Income
Annual	£131,846
Annual Per SF	£22.54

Taxes
Annual	-
Annual Per SF	-

Operating Expenses
Annual	-
Annual Per SF	-

Total Expenses
Annual	£47,706
Annual Per SF	£8.15

Net Operating Income
Annual	£84,140
Annual Per SF	£14.38

Property Facts

Price	£1,459,650	Building Class	C
Price Per Unit	£121,637	Lot Size	0.07 AC
Sale Type	Investment	Building Size	5,850 SF
Net Initial Yield	5.76%	Average Occupancy	100%
Gross Rent Multiplier	11.38	Number of Floors	2
No. Units	12	Year Built	2006
Property Type	Residential	Parking Ratio	2.05/1,000 SF
Property Subtype	Apartment	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Apartment Style	Low Rise

Price	£1,459,650
Price Per Unit	£121,637
Sale Type	Investment
Net Initial Yield	5.76%
Gross Rent Multiplier	11.38
No. Units	12
Property Type	Residential
Property Subtype	Apartment
Apartment Style	Low Rise
Building Class	C
Lot Size	0.07 AC
Building Size	5,850 SF
Average Occupancy	100%
Number of Floors	2
Year Built	2006
Parking Ratio	2.05/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.