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Listed by Nathan Cardenas, DRE #02050368 • Compass
$ 5,290,000
Est. payment /mo
Active
701 Planz RD Bakersfield, CA 93304
1.93 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRV1-37768
Year Built 1983
Lot Size 1.928 Acres
Source California Regional MLS
Property Description
701 Planz Road, 'Cedarvale Apartments' presents a rare opportunity to acquire a well located garden style multifamily asset in the Bakersfield market. This offering comprises ten fourplex buildings across two parcels for a total of 40 units, providing meaningful scale within a single transaction.The property features a uniform unit mix of two bedroom and one bathroom floor plans with tile/wood floors and granite countertops, which simplifies operations and supports consistent underwriting across the portfolio. Major capital improvements completed within the past eight years include full roof and HVAC replacements across all units. In place rents remain meaningfully below market, representing a clear path to revenue growth through increasing leases up to market rates.701 Planz Road is well suited for investors seeking to establish or expand a position in the Bakersfield multifamily market.
Location
State CA
County Kern
Area Bksf - Bakersfield
Rooms
Kitchen None
Interior
Heating Central Forced Air
Cooling Central AC
Laundry Other
Exterior
Parking Features Carport , Covered Parking, Private / Exclusive, Common Parking Area
Garage Spaces 60.0
Pool 31, None
View None
Roof Type Flat / Low Pitch,Composition
Others
Tax ID 02521003001
Special Listing Condition Not Applicable
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