Gated Apartment Building with Single-Story
2029 McCray St Bakersfield, CA 93308
2029 McCray St, Bakersfield, CA, 93308
Contact for pricing
For Sale
Contact for pricing
Pending
Professionally managed 27-unit complex with studios, 1- and 2-bedroom units on a large 1.5-acre lot.
Lot Size1.50 Acres
Days on Market102
Property Features for 2029 McCray St
General Information
- Standard status
- Pending
- Lot size
- 1.50 Acres
- Property subtype
- Multifamily
Listing agency
PCG Commercial
(916) 303-0133
Listed by
Adrian Del Rio · License #CA 01431059
Source
Crexi
Added: Apr 12 Updated: Jul 21 at 10:57PM Checked: Jul 22 at 11:48AM
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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
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FAQs
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
