701 Planz Rd - Apartments FOR SALE


Bakersfield, CA 93304- Wible Orchard
$5,290,000 USD
310-745-8569
701 Planz Rd, Bakersfield, CA for Sale
$5,290,000 USD
Apartments - FOR SALE
1/6
null | 7.46% Cap Rate

701 Planz Rd
Bakersfield, CA 93304
Wible Orchard


HIGHLIGHTS

  • Great Unit Mix
  • Separately metered
  • Upside in rents

OVERVIEW

701 Planz Road, 'Cedarvale Apartments' presents a rare opportunity to acquire a well located garden style multifamily asset in the Bakersfield market. This offering comprises ten fourplex buildings across two parcels for a total of 40 units, providing meaningful scale within a single transaction. The property features a uniform unit mix of two bedroom and one bathroom floor plans with tile/wood floors and granite countertops, which simplifies operations and supports consistent underwriting across the portfolio. Major capital improvements completed within the past eight years include full roof and HVAC replacements across all units. In place rents remain meaningfully below market, representing a clear path to revenue growth through increasing leases up to market rates.701 Planz Road is well suited for investors seeking to establish or expand a position in the Bakersfield multifamily market.

FOR SALE DETAILS

PRICE

$5,290,000 USD

PRICE/SF

$144 USD /SF

# OF UNITS

40

PRICE/UNIT

$132,250

CAP RATE

7.46%

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Cedarvale Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1983

PARKING SPACES

73

LAND DETAILS

LAND ACRES

1.9 AC

LAND SF

82,764 SF

ZONING

R-3

APN/PARCEL ID

025-210-04-00-4

ASK ABOUT THIS PROPERTY

Michael SpringerCOMPASS CommercialMore Info
310-745-8569

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Michael SpringerCOMPASS CommercialMore Info
310-745-8569

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