149-Unit Multifamily Conversion
For Sale
$791,000
2700 White Lane, Bakersfield, CA 93309
Value-add studio apartment community in Southwest Bakersfield.
Property Size59,600 SF
Price / SF$13.27
Days on Market218
Property Features for 2700 White Lane
General Information
Standard status
Active
Size
59,600 SF
Property subtype
Land
Listing Agency:
NAI Capital HQ
Listed By:
Marcos Villagomez · License #CalDRE #02071771
(818) 631-7093
Source:
Www2.naicapital
Added: Apr 3
Changed: Oct 25
Last Checked: Sep 4 at 10:55AM
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 NAI Capital HQ
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Investment Insights
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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.
Key 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.
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Location Intelligence
Trade Area within ½ mile
483
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Demographics for 93309, CA
61,079
Population
23,546
Households
2.6
Avg Household Size
33
Median Age
20%
College-Educated
83%
High-School Grad
10.5 sq mi
ZIP Area
5,817
Density / Sq Mi
$62,143
Median Household Income
$36,281
Median Earnings
$1,268
Median Rent
$286,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
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 Lane Bakersfield, CA.
What is the asking price?
The asking price for this property is $791,000.
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.
