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    623 Sumner St Bakersfield, CA 93305

    For Sale
    $2,500,000

    Historic 28-unit motel, 7 retail spaces

    Property size:
    21,495 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional investment opportunity presents a 28-unit motel and seven retail storefronts situated on a 34,767 square foot lot in Bakersfield, California's historic Old Town Kern. The property, totaling 21,495 square feet, boasts a rich history, having been built in 1902 and renovated in 2011. The two-story building is zoned C2, offering flexibility for various uses. The motel features 28 keys and 28 beds, providing immediate income potential. The seven retail spaces present an additional revenue stream or redevelopment potential, aligning perfectly with the ongoing revitalization efforts in Old Town Kern. This area is experiencing significant growth, fueled by new housing developments like the Renaissance at Baker, an 85-unit affordable housing complex. The property's prime location, just a five-minute drive from Downtown Bakersfield, offers unparalleled convenience and access to the area's vibrant cultural scene, including renowned restaurants like Pyrenees Café, Luigi's, and Wool Growers Restaurant. The City of Bakersfield is actively investing in Old Town Kern's revitalization, offering potential incentives for developers. This property is ideal for both first-time hotel owner-operators seeking a manageable income-producing asset and developers/investors looking for a high-potential site for revitalization. The property's combination of historical charm, strong income potential, and location within a rapidly developing area makes it a truly unique investment opportunity.

    Property Features for 623 Sumner St

    General Information

    Property type
    Hotels
    Square Feet
    21,495 SF

    Building Details

    Year Built/Renovated
    1902/2011
    Buildings
    1
    Stories
    2
    Units
    35

    HighLights

    • Strong investment opportunity in rapidly growing Old Town Kern, ideal for housing developers.
    • Old Town Kern boasts renowned cultural heritage and iconic restaurants like Pyrenees Café (est. 1887), Luigi's (est. 1910), and Wool Growers Restaurant.
    • New housing projects, including the 85‑unit Renaissance at Baker affordable housing complex, are revitalizing the area.
    • City of Bakersfield offers development incentives to support Old Town Kern's revitalization.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    N J Units ... Apartment Building

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bakersfield
    County
    Kern
    State
    California
    Longitude
    -118.99330218214
    Latitude
    35.37698657726

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    FAQs

    What type of property is this?
    Hotel - Historic 28-unit motel, 7 retail spaces
    Where is this hotel located?
    The property is located at 623 Sumner St Bakersfield, CA.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: Strong investment opportunity in rapidly growing Old Town Kern, ideal for housing developers.; Old Town Kern boasts renowned cultural heritage and iconic restaurants like Pyrenees Café (est. 1887), Luigi's (est. 1910), and Wool Growers Restaurant.; New housing projects, including the 85-unit Renaissance at Baker affordable housing complex, are revitalizing the area.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    623 Sumner St Bakersfield, CA 93305
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