1101 Union Ave Bakersfield, CA 93307

Property Details for 1101 Union Ave

Lot size

1.22 lot acres

Property size

24,254 SF

Property type

Hotels

Description

This exceptional value-add opportunity presents a 24,254 square foot, two-building hotel and living facility situated on a 1.22-acre lot in downtown Bakersfield, California, at 1101 Union Ave, near the intersection of California Ave and Union Ave. The property, previously used as a residential rehabilitation center, is currently vacant and offers significant upside potential. The buildings boast a diverse layout including single occupancy living spaces, office areas, a commercial-grade kitchen, and a cafeteria, catering to a variety of uses. The property features a courtyard with a water feature and ample parking with 28 onsite spaces. Security measures include a fully fenced and gated perimeter. Both buildings are fully sprinklered. The property is zoned C-2 (commercial) and R-2 (residential), providing flexibility for future development. The asking price is $2,500,000, translating to $103.08 per square foot. This property presents a unique chance to acquire a substantial asset in a growing urban core, offering a compelling return on investment for the right buyer. The two-story buildings provide a solid foundation for a variety of redevelopment or repurposing strategies. The central location and existing infrastructure make this a highly attractive proposition.