$699,999
Sqft:
2,984
Sqft lot:
5,662
Acre lot:
0.13
44 Days On Market -
Courtesy of Esteban Contreras, Central Valley Property Advisors 152519214
Status:
Active
Property Type:
5 - 10 Units
Year Built:
1938
Days On Website:
44
Description
We proudly present this five-unit multifamily property with significant upside potential. The property includes a diverse unit mix: one 3-bed/1-bath, one 2-bed/2-bath, two 1-bed/1-bath units, and a studiomaximizing tenant appeal. Four units have been extensively remodeled, featuring upgrades like vinyl flooring, new windows, AC units, countertops, and modern appliances. The front house, freshly painted, offers a value-add opportunity with minor TLC. Current rents are $400-$500 below market, allowing for rental growth. Key improvements include a new main sewer line from the front house to the alley and updates to plumbing and electrical systems, enhancing long-term performance and reducing maintenance costs. This property is ideal for investors looking for immediate cash flow and substantial rental upside in a growing market. ACTUAL SQFT IS AROUND 3500SQFT PER OWNER (Garage conversion)
Features
Listing
- Listed on 2024-10-10 00: 00:00
Location
- City: Bakersfield
- ZIP code: 93308
- Area: 21
- County: Kern
Building
- Built in 1938
- 2,984 square feet
- 5 units
Parking
- Uncovered
Lot
- Lot measurement: SqFt
- Lot is 5,662 square feet
Miscellaneous
- Annual gross income: $68,652
- Annual net income: $37,204
- Total annual expense: $66,592
Property Map
Map View
$699,999 - 701 Woodrow Avenue, Bakersfield, CA 93308
Street View
Directions
701 Woodrow Avenue
Bakersfield, CA 93308
City: Bakersfield