Gated Apartment Building with Single-Story
For Sale
Contact for pricing
Pending
2029 McCray St, Bakersfield, CA 93308
Professionally managed 27-unit complex with studios, 1- and 2-bedroom units on a large 1.5-acre lot.
Property SizeContact for details
Lot Size1.50 Acres
Days on Market134
Property Features for 2029 McCray St
General Information
Standard status
Pending
Lot size
1.50 Acres
Property subtype
Multifamily
Additional Details
Cap Rate
5.55%
Fenced Yard
Yes
Multifamily Units
27
Amenities
gated
Building Details
Tenancy
Multi
Listing Agency:
PCG Commercial
(916) 303-0133
Listed By:
Adrian Del Rio · License #CA 01431059
Source:
Crexi
Added: Apr 12
Changed: Aug 8
Last Checked: Aug 21 at 9:59PM
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 PCG Commercial
Investment Insights
Based on property information with market context.
McCray Apartments is a professionally managed 27-unit complex comprised mostly of single-story buildings, all on a large 1.5-acre lot. The unit mix includes one (1) Studio, sixteen (16) 1 Bed/1 Bath units, eight (8) 2 Bed/1 Bath units, plus a single-family residence. Each unit is separately metered for electrical, gas, and hot water, with individual water heaters.
The community is gated and designed to provide a more controlled tenant environment. In recent ownership activity, the property has seen light repositioning, including renovating two units, cleaning common areas, replacing roofs/dry rot to one of the buildings, and currently evicting two tenants for non-payment.
Lease-to-rents based on newly rented units are approximately $4,209 per month ($48,348 annually), supporting rental upside. There is also opportunity to implement RUBS to reimburse utility costs estimated at approximately $60 per unit per month, equating to an additional $19,440 in annual gross income, and many units are due for their annual allowable rental increases. The property is located in north Bakersfield.
The community is gated and designed to provide a more controlled tenant environment. In recent ownership activity, the property has seen light repositioning, including renovating two units, cleaning common areas, replacing roofs/dry rot to one of the buildings, and currently evicting two tenants for non-payment.
Lease-to-rents based on newly rented units are approximately $4,209 per month ($48,348 annually), supporting rental upside. There is also opportunity to implement RUBS to reimburse utility costs estimated at approximately $60 per unit per month, equating to an additional $19,440 in annual gross income, and many units are due for their annual allowable rental increases. The property is located in north Bakersfield.
Key Highlights
- Professionally managed 27‑unit apartment complex in north Bakersfield on a 1.5‑acre lot
- Unit mix includes 2 studios, 16 one‑bedroom/1‑bath, 8 two‑bedroom/1‑bath, plus a single‑family residence
- Separately metered utilities: each unit has its own electric, gas, and hot water meters with individual water heaters
Property Analytics
Property Profile
Current Use
Lease Details
27
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
521
Businesses Nearby
Explore this area
Business Placement
Demographics for 93308, CA
56,037
Population
21,443
Households
2.6
Avg Household Size
35
Median Age
18%
College-Educated
84%
High-School Grad
344.6 sq mi
ZIP Area
163
Density / Sq Mi
$59,511
Median Household Income
$39,676
Median Earnings
$1,260
Median Rent
$298,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Professionally managed 27-unit complex with studios, 1- and 2-bedroom units on a large 1.5-acre lot.
Where is this apartment building located?
The property is located at 2029 McCray St Bakersfield, CA.
What are key features of this property?
This property features: Professionally managed 27‑unit apartment complex in north Bakersfield on a 1.5‑acre lot; Unit mix includes 2 studios, 16 one‑bedroom/1‑bath, 8 two‑bedroom/1‑bath, plus a single‑family residence; Separately metered utilities: each unit has its own electric, gas, and hot water meters with individual water heaters
