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    149-Unit Multifamily Conversion Opportunity Title is generated by Realmo AI

    2700 White Ln, Bakersfield, CA 93304

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    For Sale
    $9,950,000

    Value-add studio apartment community in Southwest Bakersfield.

    Type:Multifamily
    Property size:
    59,600 SF
    Price / SF:
    $166/SF
    Added:
    Apr 3, 2026
    Days on Market:
    65
    Last Refresh:
    Apr 3 at 4:58 am

    Property Features for 2700 White Ln

    General Information

    Standard status
    Active
    Size
    59,600 SF
    Property subtype
    Multifamily

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    Listing Contact
    Glen Scher

    Listing agent Glen Scher License #CA: 01962976

    Listing office Encino Office

    Listing date Apr 3, 2026

    Source Marcusmillichap

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Encino Office

    HighLights

    • Heavy value‑add opportunity with approved entitlement.
    • Strong rental comparables support a stabilized rent assumption of $1,075 per month.
    • Deep Section 8 demand with approved contract rents ranging from $975 to $1,095 per month.
    • Completed fire sprinklers and alarm systems represent substantial life‑safety capital already invested.
    • Exceptional freeway visibility and direct access from White Lane.
    • Sale comparable validation from Park Villa Apartments at 1405 White Lane.

    Overview

    Located at the Highway 99 interchange in Southwest Bakersfield’s Wible Orchard neighborhood, 2700 White Lane is a 149-unit studio apartment community. Originally constructed in 1965 as a Howard Johnson hotel, the property has been converted to multifamily use under Conditional Use Permit 23-0642, approved on February 29, 2024. The two-story, L-shaped property encompasses approximately 59,600 square feet of building area. The 149 studio units average approximately 400 square feet each and feature kitchenettes in a hotel-conversion format. The site benefits from freeway visibility, with Highway 99 carrying more than 170,000 vehicles per day, and direct access from White Lane. The immediate area is characterized by working-class residential neighborhoods and commercial corridors. Valley Plaza Mall is approximately two miles east, and Downtown Bakersfield is approximately five miles northeast. The property currently operates at 65.1 percent occupancy, with 97 units leased and 52 vacant. Approximately 40 percent of occupied units are leased to Section 8 voucher holders, and the Bakersfield Housing Authority has approved contract rents at this address ranging from $975 to $1,095 per month. Fire sprinklers and alarm systems have been completed. Remaining CUP compliance items include five 8-by-20-foot masonry trash enclosures, six ADA parking stalls and path of travel, Los Carneros and White Lane sidewalk replacement, drive approaches and management signage, parking lot slurry seal and restripe, streetlight installation, landscaping, and perimeter security fence and gates.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $1.39M $23.28
    − Vacancy −$83.2k −$1.40
    EGI $1.30M $21.88
    − OpEx −$586.9k −$9.85
    NOI $717.3k $12.04
    59,600 SF · lease $23.28/SF/yr · vacancy 6.00% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $10.25M
    $8.97M – $11.96M (±1% cap)
    NOI $717,331 @ 7.0% cap · market cap 7.21%
    Second Best
    no second resolved use
    Theoretical Best
    Office A
    $15.82M
    $13.84M – $18.45M (±1% cap)
    NOI $1,107,130 @ 7.0% cap · market cap 11.13%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Shirley house Apartment Building Cheryl's place Housing Development Howard Johnson by ... Hotel & Motel

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bakersfield
    County
    Kern
    State
    California
    Longitude
    -119.0342038
    Latitude
    35.3181851

    FAQs

    What type of property is this?
    Apartment building - Value-add studio apartment community in Southwest Bakersfield.
    Where is this apartment building located?
    The property is located at 2700 White Ln Bakersfield, CA.
    What is the asking price?
    The asking price for this property is $9,950,000.
    What are key features of this property?
    This property features: Heavy value‑add opportunity with approved entitlement.; Strong rental comparables support a stabilized rent assumption of $1,075 per month.; Deep Section 8 demand with approved contract rents ranging from $975 to $1,095 per month.
    More about this property
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