2325 Chester LnBakersfield, CA 93304

Property Details for 2325 Chester Ln

Year built

1947

Construction

WOOD

Lot size

0.62 AC

Property size (Sq ft)

7,280 SF

Zone code

R-3

Property type

Residential income properties

Property subtype

Other 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.

• CAP approach

  CAP return

  Valuation

  6%

  $2,573,674

  6.5%

  $2,375,699

  7%

  $2,206,006

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,145,766

  Geo Method

  $2,145,766

• Alternative Use

  Use

  Valuation

  Residential

  $2,375,699

  Hospitality

  $2,176,128

  Educational

  $1,810,513

  Medical

  $1,872,779

  Retail

  $2,816,353

Location Insight

City

Bakersfield

County

Kern

State

California

Latitude

35.3644

Longitude

-119.029

CBSA code

12540

CBSA name

BAKERSFIELD, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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