Price Reduced Listing701 Planz Road,Bakersfield, CA 93304
Bakersfield, CA 93304
Description
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.
Details
| MLS # | V1-37768 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1983 |
| Days On Site | 85 |
| Listing Provided By | Compass | Nathan Cardenas |
Features
| SQ Feet | 36,640 |
|---|---|
| Car Port | Yes |
| Story(s) | 2 |
| Units | 40 |
| Building(s) | 10 |
| Zoning | R-3 |
| Acreage | 1.93 |
| Property View | None |
Interior
| Cooling | Central Air |
|---|---|
| Heating | Central |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
| Interior Features | Balcony |
| Fireplace Yes / No | No |
Exterior
| Exterior Features | Balcony |
|---|---|
| Roof | Composition, Flat |
| Construction Materials | Wood Siding |
| Fencing | Security |
Parking
| Parking Features | Covered, Carport, On Site, Private |
|---|---|
| Garage Yes / No | No |
Location
| Community Features | Biking, Curbs, Suburban, Sidewalks |
|---|
Area Information
| State | CA |
|---|---|
| County | Kern |
| City | Bakersfield |
| Zip Code | 93304 |
| Area | BKSF Bakersfield |
| Community Name | Other |
| Listing VS Median (in Other) | |
Price: $4,950,000 low | high Med: $2,290,000 sqft: 36,640 low | high Med: 4,020 $ / sqft: $135 low | high Med: $570 On site: 85 low | high Med: 88 | |
Market Activity 93304
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Learn More About This Property
| State | CA |
|---|---|
| County | Kern |
| City | Bakersfield |
| Zip Code | 93304 |
| Area | BKSF Bakersfield |
| Community Name | Other |
| Listing VS Median (in Other) | |
Price: $4,950,000 low | high Med: $2,290,000 sqft: 36,640 low | high Med: 4,020 $ / sqft: $135 low | high Med: $570 On site: 85 low | high Med: 88 | |