Sunshine Studios

20 Unit Apartment Building | $1,499,999 ($75,000/Unit) | 8.10% Cap Rate | Bakersfield, CA 93304

Asking Price $1,499,999

Property Type: Multifamily
Square Feet: 7,144 SF

Listing Contacts

Cray Carlson

Verified Profile

Manny Nunez

Verified Profile

Property Info

Property Overview

CBRE, Inc. is pleased to exclusively present 2410 S. M Street, a twenty-unit multifamily investment property in Bakersfield, California. On the market for the first time in 20 years, The M Street Apartments are located three minutes from the Bakersfield Municipal Airport and 1 hour and 20 minutes from The City of Los Angeles. Constructed in 1984, the 20 unit ±7,144 square foot building sits on ±16,988 square foot lot. As of June 2024, 50% of the gross revenue is government subsidized, providing the new owner security of cash flow. The property has a unit mix of 20 studio/1bath units with an uncovered parking lot and serviced by three central water heaters. The roofs on both buildings have also been replaced within the last 24 months. The M Street apartments are a true value add investment opportunity for an astute investor looking for a hedge against inflation.

Property Details

Class: C
Year Built: 1984
Stories: 2
Lot Size (sq. ft): 16,988 SF
Units: 20

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