404 Covey Ave - Apartments FOR SALE


Bakersfield, CA 93308- Oildale
$659,000 USD
661-230-6411
404 Covey Ave, Bakersfield, CA for Sale
$659,000 USD
Apartments - FOR SALE
1/13
null | 6.52% Cap Rate

404 Covey Ave
Bakersfield, CA 93308
Oildale


HIGHLIGHTS

  • Durable Construction materials, faux wood tile flooring, tile roofing
  • Stand alone detached houses with ample dedicated off street parking next to each unit
  • Large lot with plenty of space in between units
  • Paid for solar panels giving tenant occupants ultra low electricity bills

OVERVIEW

Price just reduced! 3 unit property newly built in Fall 2024, with LOW LOW expenses. NO RENT CONTROL !...as per state law exemption. Each unit is a detached dwelling with 3 bedrooms/1.5 bathrooms renting from $1550-1700, all on 1-year leases, with their own laundry room and dedicated parking for 2 cars next to their home. Solid tenants on leases. Tile roofs. PAID solar means tenants get power credit and very low electric bills. Tenants PAY WATER. Granite countertops, central island, and built-in MW, stove, DW in kitchen. Builder used DURABLE materials for LOW maintenance. Faux wood ceramic tile flooring throughout. IMAGINE having almost no repairs/maintenance calls for years to come. IMAGINE tenants that will never leave because they have a beautifully finished home with everything brand new, and have tiny electric bill and tiny water bill ($36/mth fixed rate!!) IMAGINE 6.3% cap rate on almost brand-new building: 404 Covey Ave will be the best property in your portfolio.

FOR SALE DETAILS

PRICE

$659,000 USD

PRICE/SF

$208 USD /SF

# OF UNITS

3

PRICE/UNIT

$219,667

CAP RATE

6.52%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Covey Estates

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

PARKING SPACES

6

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

R2

APN/PARCEL ID

114-182-13-00-5

ASK ABOUT THIS PROPERTY

Philip JordanJordan Apartment GuysMore Info
661-230-6411

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Philip JordanJordan Apartment GuysMore Info
661-230-6411

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