4009 Lake Isabella Blvd - Apartments FOR SALE


Bodfish, CA 93205
$783,000 USD
661-636-7894
4009 Lake Isabella Blvd, Bodfish, CA for Sale
$783,000 USD
Apartments - FOR SALE
1/7
null | 8.01% Cap Rate

4009 Lake Isabella Blvd
Bodfish, CA 93205


HIGHLIGHTS

  • Completely Renovated – True Turnkey Asset
  • 100% Spacious Two-Bedroom Floor Plans
  • High Rental Demand | Limited Housing Supply
  • Prime Lake Isabella Boulevard Location
  • Above Market Rate of Return 8% Cap Rate | 8.7 GRM

OVERVIEW

Marcus and Millichap are pleased to present the Isabella Garden Apartments, a rare opportunity to acquire a fully renovated multifamily community strategically positioned along the highly traveled Lake Isabella Boulevard, the primary commercial corridor serving the Kern River Valley. The property consists exclusively of spacious 2-bedroom / 1-bathroom apartment homes, offering one of the most desirable unit configurations for families, working professionals, retirees, and long-term residents alike. Nestled in the heart of the Lake Isabella and Bodfish communities, the property is surrounded by one of California's premier outdoor recreation destinations. Renowned for its world-class bass and trout fishing, boating, kayaking, whitewater rafting on the Kern River, hiking, camping, off-road recreation, and its close proximity to the Sequoia National Forest and Southern Sierra Nevada Mountains, Lake Isabella attracts visitors year-round while serving as the commercial and residential hub of the greater Kern River Valley. Its prime location on a major thoroughfare provides residents with immediate access to shopping, dining, schools, healthcare, and everyday conveniences, further enhancing the property's long-term desirability. The asset has undergone a comprehensive renovation, creating a truly turnkey investment with minimal deferred maintenance and exceptional resident appeal. Every 2-bedroom / 1-bathroom unit has been extensively upgraded with modern flooring, contemporary cabinetry, beautifully renovated bathrooms, and energy-efficient mini-split HVAC systems with integrated heat pumps for year-round comfort. Each apartment is equipped with a full appliance package including a stove/oven and refrigerator, providing residents with movein-ready accommodations. Additional amenities include an on-site laundry facility, ample off-street parking, and professionally maintained common areas, delivering the convenience and functionality today's renters demand. These substantial capital improvements significantly elevate the property above much of the existing rental inventory throughout the Lake Isabella market, positioning ownership to capitalize on strong tenant retention and continued rental growth. The Lake Isabella market continues to benefit from favorable multifamily fundamentals driven by a limited supply of quality rental housing and consistent demand from local residents, healthcare professionals, government employees, seasonal workers, retirees, and households seeking an affordable lifestyle within the Kern River Valley. With relatively few professionally renovated apartment communities available and very limited rental inventory, well-maintained assets are positioned to experience strong occupancy and sustained leasing activity. Lake Isabella's combination of year-round tourism, outdoor recreation, and small-town charm continues to support long-term housing demand while creating meaningful barriers to entry for competing multifamily developments. As one of the area's few fully renovated apartment communities comprised entirely of desirable 2-bedroom / 1-bathroom residences, Lake Isabella Villas offers investors the opportunity to acquire a stabilized, income-producing asset with durable cash flow potential in one of Central California's most recognizable recreational destinations.

FOR SALE DETAILS

PRICE

$783,000 USD

PRICE/SF

$254 USD /SF

# OF UNITS

6

PRICE/UNIT

$130,500

CAP RATE

8.01%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

ISABELLA GARDEN APARTMENTS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1957

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.6 AC

LAND SF

26,136 SF

ZONING

C-2

APN/PARCEL ID

264-063-07-00-4

ASK ABOUT THIS PROPERTY

Jorge GarciaMarcus & MillichapMore Info
661-636-7894

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Jorge GarciaMarcus & MillichapMore Info
661-636-7894

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.