1201 40th St Bakersfield, CA 93301
- Added:
- Apr 3, 2026
- Days on Market:
- 20
- Last Refresh:
- Apr 3 at 5:15 am
Property Features for 1201 40th St
General Information
- Standard status
- Active
- Property subtype
- Multifamily
Listing agent Dusty Haeling License #CA: 01292212 (916) 724-1359
Listing office Sacramento Downtown Office (916) 724-1359
Listing date Apr 3, 2026
Source Marcusmillichap
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All listing content including descriptions, pricing, images are the copyrighted material of Sacramento Downtown Office
Overview
Large Affordable Housing Community
Sunrise Apartments is a 240-unit affordable housing community located in Bakersfield, California. It presents a preservation and re-syndication opportunity for investors seeking to extend long-term affordability through the Low-Income Housing Tax Credit (LIHTC) program. Originally redeveloped using tax-exempt bonds and 4% LIHTCs, the property is encumbered by a California Tax Credit Allocation Committee (TCAC) regulatory agreement, requiring it to operate as a Qualified Low-Income Housing Project. The property operates under the 40-60 test, with 100% of the units restricted to households earning no more than 60% of Area Median Income (AMI). Rents are limited per Section 42 of the Internal Revenue Code and are subject to ongoing TCAC compliance monitoring. The unit mix includes eight two-bedroom units and 232 three-bedroom, two-bath units. The property's scale and configuration support consistent demand from income-qualified households and align with long-term workforce and family housing needs in the Bakersfield market. A re-syndication would support the modernization of building systems, replenishment of reserves, and enhancement of long-term operational sustainability. The property is well positioned for a 4% bond re-syndication and may support deeper income targeting where feasible. Bakersfield is a supply-constrained affordable housing market, particularly for households earning below 60% of AMI. As the economic center of Kern County, the city benefits from a diverse employment base including healthcare, logistics, agriculture, energy, education, and public sector employment. Continued population growth, rising housing costs, and limited new affordable supply have reinforced the importance of preserving existing communities such as Sunrise Apartments. The property offers investors the opportunity to acquire a large-scale, 100% affordable housing asset with regulatory clarity, durable demand, and a defined path to long-term affordability preservation through LIHTC re-syndication.
Location Intelligence
Current Use by Public Records
Colony Square Apartments
Apartment Building
Sunrise Apartments
Apartment Building
apt
Apartment Building
U S Roofing
Roofing Company
O & A Security Services
Security Service
Location Insight
- Map
- Local Demand
- City
- Bakersfield
- County
- Kern
- State
- California
- Longitude
- -119.0159186
- Latitude
- 35.3960903
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 240-unit affordable housing community in Bakersfield, California.
Where is this apartment building located?
The property is located at 1201 40th St Bakersfield, CA.
What are key features of this property?
This property features: Large‑scale (240 units) affordable housing community in Bakersfield, CA, offering a rare investment opportunity.; Clear path for Low‑Income Housing Tax Credit (LIHTC) re‑syndication to extend affordability and fund capital improvements.; 100% of units restricted to households earning no more than 60% of Area Median Income (AMI), ensuring consistent demand.
