Current Use by Public Records
- Bakersfield City Attorney / City Government Office
- Bethany Services / Charitable Organization / Social Service Agency
- City of Bakersfield Recreation & Parks / City Government Office
- Bakersfield City Hall / City Hall
- Dr. Grant W. Peters, MD / Physician
Property Details for 1600 Truxtun Ave
- Year built
- 2006
- Lot size
- 1.72 lot acres
- Property type
- Hospitality properties
- Property subtype
- Hotels
Description
This exceptional 65-key Wyndham hotel in Bakersfield, California presents a lucrative investment opportunity. Boasting 36,642 square feet across three stories, this property sits on a 1.72-acre lot and underwent a complete renovation in 2023. Built in 2006, the hotel currently enjoys an impressive 82.22% occupancy rate, generating a Net Operating Income (NOI) of $963,775 and a 6.43% capitalization rate. The asking price is $15,000,000, translating to $409.37 per square foot. Projected 2024 revenue is estimated at $3,000,000. The hotel's location in Bakersfield, within Kern County, benefits from several demand generators, including its proximity to a major airport (within 2 hours of Santa Barbara, Los Angeles, and Fresno), a significant agricultural region, the energy and oil sector, corporate businesses, event venues, and educational institutions. Financing options include SBA 7a parra passu loans (minimum 20% down) and conventional loans (minimum 30% down). This hotel is a compset leader in occupancy and Average Daily Rate (ADR), making it a compelling investment with strong potential for future growth. The address provided is not the actual property address
Value Estimations
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Bakersfield
- County
- Kern
- State
- California
- Longitude
- -119.021
- Latitude
- 35.3737
