2325 Chester Ln Bakersfield, CA 93304
- Apartment buildings
- 7,280 SF
- 0.62 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 2325 Chester Ln
- Year built
- 1947
- Construction
- WOOD
- Lot size
- 0.62 lot acres
- Property size
- 7,280 SF
- Zone code
- R-3
- Property type
- Apartment buildings
- APN
- 007-321-02-00-5
- APU
- 732102005
Description
This exceptional 14-unit apartment building presents a compelling investment opportunity in Bakersfield, California. Located at 2325 Chester Ln, this property boasts 7,280 square feet of net rentable space, achieving a strong 6.18% cap rate with a current NOI of $111,245. The property features a desirable mix of units, primarily one-bedroom, one-bathroom apartments, many constructed in a sought-after cottage style. All units underwent a complete renovation in 2021, resulting in 100% occupancy. Built in 1947, the property comprises ten buildings across two stories, situated on a sizable 27,007 square foot lot. The R-3 zoning permits a variety of uses. The asking price is $1,800,000, translating to $128,571 per unit. This prime location within a high-demand rental area ensures consistent cash flow and strong appreciation potential. The property's recent renovations, desirable unit style, and high occupancy rate make it an attractive investment for both seasoned and new investors seeking a stable and profitable multifamily asset in a thriving California market. The APN is 00732102. This is a turnkey opportunity with immediate income generation.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,255,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,265,000
- 6.5%
- $1,280,000
- 7%
- $1,295,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,295,000
- Geo Method
- $1,335,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,455,000
- Retail
- $1,150,000
- Mixed-Use
- $1,310,000
- Hospitality
- $1,450,000
- Educational
- $1,365,000
- Residential Income
- $1,315,000
- Energy
- $1,230,000
- Income-Based Land
- $1,380,000
- Food Service
- $1,165,000
Location Insight
- Map
- Local Demand
- City
- Bakersfield
- County
- Kern
- State
- California
- Longitude
- -119.029
- Latitude
- 35.3644
- CBSA code
- 12540
- CBSA name
- BAKERSFIELD, CA METROPOLITAN STATISTICAL AREA
