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    Studio Apartment Community For Sale Title is generated by Realmo AI

    2700 White Ln, Bakersfield, CA 93304

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    For Sale
    $8,950,000

    149-unit studio apartment community in Southwest Bakersfield.

    Type:Investment
    Property size:
    61,500 SF
    Price / SF:
    $145/SF
    Added:
    Apr 24, 2026
    Days on Market:
    59
    Last Refresh:
    Apr 24 at 4:46 pm

    Property Features for 2700 White Ln

    General Information

    Standard status
    Active
    Size
    61,500 SF
    Property subtype
    Investment

    Building Details

    Year Built
    1965

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    Listing Contact
    Filip Niculete

    Listing agent Filip Niculete License #CA:01962976

    Listing office Encino Office

    Listing date Apr 24, 2026

    Source Elliman

    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 defined scope of remaining work for conversion to multifamily use under Conditional Use Permit 23‑0642.
    • Strong rental comparables support a stabilized rent assumption of $1,075 per month.
    • High visibility location at the Highway 99 interchange with direct access from White Lane.
    • Strong Section 8 demand with existing voucher holders and approved contract rents ranging from $975 to $1,095 per month.
    • Fire sprinklers and alarm systems already completed, representing substantial life‑safety capital already invested.
    • Court‑supervised sale through receivership.

    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 built in 1965 as a Howard Johnson hotel, the property was converted to multifamily use under Conditional Use Permit 23-0642, approved on February 29, 2024. The two-story, L-shaped property includes approximately 61,500 square feet of building area. The 149 studio units average approximately 400 square feet each, and feature kitchenettes in a hotel-conversion format and exterior corridors. The site provides a kidney-shaped swimming pool and a large surface parking lot. The property benefits from freeway visibility, with Highway 99 carrying over 170,000 vehicles per day, and direct access from White Lane. Valley Plaza Mall is approximately two miles east and Downtown Bakersfield approximately five miles northeast. The property currently operates at 65.1% occupancy, with 97 units leased and 52 vacant. Approximately 40% 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. 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 $1.43M $23.28
    − Vacancy −$85.9k −$1.40
    EGI $1.35M $21.88
    − OpEx −$605.6k −$9.85
    NOI $740.2k $12.04
    61,500 SF · lease $23.28/SF/yr · vacancy 6.00% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $10.57M
    $9.25M – $12.34M (±1% cap)
    NOI $740,199 @ 7.0% cap · market cap 8.27%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $16.32M
    $14.28M – $19.04M (±1% cap)
    NOI $1,142,424 @ 7.0% cap · market cap 12.76%
    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 - 149-unit 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 $8,950,000.
    What are key features of this property?
    This property features: Heavy value‑add opportunity with defined scope of remaining work for conversion to multifamily use under Conditional Use Permit 23‑0642.; Strong rental comparables support a stabilized rent assumption of $1,075 per month.; High visibility location at the Highway 99 interchange with direct access from White Lane.
    More about this property
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