1131 Lincoln Street

    Bakersfield, CA 93305
    • $1,315,000
    • STATUS: Active
    • ON SITE: 27 days
    • ID#: PW19018560
    UPDATED: 22 min ago
    $1,315,000
    • 0
      BEDS
    • 0.6
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 13,600
      SQFT
    • $97
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1977
    County:

    School Ratings & Info

    Description

    1131 Lincoln Street comprises four 1977 construction buildings on a large 0.6-acre corner lot that offers ample gated on-site parking. The buildings contain a highly desirable unit mix of 16 two-bedroom/one-and-one-half-bath townhomes that average 850 square feet and are separately metered for gas and electricity. The property also has laundry machines, however they are currently non-operational; a new investor could reinstate on-site laundry and collect additional income. This asset presents an outstanding opportunity for an investor to acquire a property with a strong unit mix, excellent cash flow on current rents, and additional potential upside in a growing majority-renter market.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-02-21T12:36:35.593. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.hellerthehomeseller.com/homes/91171905

    1131 Lincoln Street Bakersfield, CA 93305

    • Price: $1,315,000
    • Status: Active
    • Updated: 22 min ago
    • ID#: PW19018560
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.6
    Acres
    13,600
    SQFT
    $97
    $/SQFT
    1977
    Built
    Neighborhood:
    BKSF - Bakersfield
    County:
    Kern
    Area:
    BKSF - Bakersfield
    Property Description
    1131 Lincoln Street comprises four 1977 construction buildings on a large 0.6-acre corner lot that offers ample gated on-site parking. The buildings contain a highly desirable unit mix of 16 two-bedroom/one-and-one-half-bath townhomes that average 850 square feet and are separately metered for gas and electricity. The property also has laundry machines, however they are currently non-operational; a new investor could reinstate on-site laundry and collect additional income. This asset presents an outstanding opportunity for an investor to acquire a property with a strong unit mix, excellent cash flow on current rents, and additional potential upside in a growing majority-renter market.
    Exterior Features

    Garage Spaces 0.00 Lot Features Lot 10000-19999 Sqft Lot Size Source Assessor Lot Size Units Square Feet Parking Total 20.00 Pool Features None Pool Private YN No Property Attached YN No

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area 850 Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Laundry Features See Remarks Levels Two

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cap Rate 6.01 Community Features Suburban Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 0.00 Gross Multiplier 9.95 Gross Scheduled Income 132180.00 Insurance Expense 0.00 Land Lease YN No Laundry YN Yes Net Operating Income 79073.00 New Construction YN No New Taxes Expense 0.00 Number Of Separate Electric Meters 16 Number Of Separate Gas Meters 16 Number Of Separate Water Meters 0 Operating Expense 49141.00 Professional Management Expense 0.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Expenses 49141.00 Trash Expense 0.00 Water Sewer Expense 0.00 Water Source Public Year Built Source Assessor Zoning R-3

    Listing provided courtesy of Steven Bogoyevac of Steven M. Bogoyevac, Broker


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-02-21T12:36:35.593. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
    Heller The Home Seller
    171 Saxony Road, Ste. 205
    Encinitas CA, 92024