$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
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

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$699,999 - 701 Woodrow Avenue, Bakersfield, CA 93308

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701 Woodrow Avenue
Bakersfield, CA 93308
City: Bakersfield

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Ryan Joyce