530 Union Ave - Storefront Retail/Office FOR SALE


Bakersfield, CA 93307- Lakeview
$1,275,000 USD
805-453-8353
530 Union Ave, Bakersfield, CA for Sale
$1,275,000 USD
Storefront Retail/Office - FOR SALE
1/28
null | 7.8% Cap Rate

530 Union Ave
Bakersfield, CA 93307
Lakeview


OVERVIEW

Seize a unique value-add opportunity at 520-530 Union Avenue, a mixed-use complex positioned for revitalization in a high-traffic area of Bakersfield. APX 31,000 average daily traffic count! With 7 residential (6 OCCUPIED) units (5723 SF) AND 6,842 SF of commercial space that is currently vacant, this multi-use property allows investors to immediately capitalize on Bakersfield's strong rental demand and expanding economy. Recent local government initiatives, include the Complete Streets Ordinance. With a projected $13,596/month, and actual 2024 expenses, the property earns a 7.8 % Cap Rate! Located within an ECONOMIC OPPORTUNITY ZONE. 510 Union Ave- VACANT C-2 zoned 6000 SF lot next door- INCLUDED as a package deal: Use as parking for lessees, or develop separately. SELLER will FINANCE entire property with 50% down.

FOR SALE DETAILS

PRICE

$1,275,000 USD

PRICE/SF

$101 USD /SF

CAP RATE

7.8%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1946

SPRINKLERS

-

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

9,148 SF

ZONING

C-2

APN/PARCEL ID

139-251-03-00-0,139-251-04-00-0

ASK ABOUT THIS PROPERTY

Philip JordanJordan Apartment GuysMore Info
805-453-8353

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Philip JordanJordan Apartment GuysMore Info
805-453-8353

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