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Franklin Plaza Apartments 4236 4236 Columbus St

8 Unit Apartment Building $905,000 ($113,125/Unit) 6.58% Cap Rate Bakersfield, CA 93306

Investment Highlights

  • Well Maintained 8 Courtyard - 4 Two Bedrooms and 4 One Bedroom -- Residential Units, Each have an extra storage unit, A/C, Skylights, Single Story
  • Sits high off street, nestled in great location, convenient to shopping, schools, parks, public transportation,
  • Parking off Alley, Carport - Covered Parking One Space per unit

Executive Summary

The Franklin Plaza Apartments at 4326 Columbus represent an exceptional investment opportunity in Bakersfield's thriving Northeast neighborhood. This well maintained 8-unit residential complex offers a rare combination of prime location and strong unit mix of 1 & 2 Bedroom Units. Situated within walking distance of community amenities including the local community college, shopping centers, schools, parks and public transportation, The property appeals to a wide range of potential tenants. The single-story courtyard building features modern conveniences such as dual-pane windows, individual A/C units, skylights, and private storage closets, community laundry, units ensuring both comfort and functionality. Sitting above Columbus St. the central grass courtyard and covered parking off alley further enhance the property's attractiveness, making it a standout option in Bakersfield's competitive rental market. With the adjacent property at 4300 Columbus also available for sale, this presents a unique opportunity for expanded investment potential. See attachment. 4 Two Bedroom Units and 4 One Bedroom Units. Call Stephanie for more information --
Nestled in the heart of California's San Joaquin Valley, Bakersfield offers a compelling blend of affordability, economic opportunity, and strategic location. As the ninth-largest city in California, Bakersfield has emerged as a dynamic market for real estate investors and residents alike. The city's diverse economy, anchored by agriculture, energy production, and a growing services sector, provides a stable economic foundation. With its relatively low cost of living compared to coastal California cities, Bakersfield attracts both professionals seeking career opportunities and investors looking for promising real estate investments.

Property Facts

Price $905,000
Price Per Unit $113,125
Sale Type Investment
Cap Rate 6.58%
Gross Rent Multiplier 8.82
No. Units 8
Property Type Multifamily
Property Subtype Apartment
Apartment Style Garden
Lot Size 0.29 AC
Building Size 5,872 SF
Average Occupancy 100%
No. Stories 1
Year Built 1966
Parking Ratio 1.36/1,000 SF

Unit Amenities

  • Air Conditioning
  • Cable Ready
  • Storage Space
  • Double Pane Windows

Site Amenities

  • Courtyard
  • Laundry Facilities

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
2+1 4 - -
1+1 4 - -

zoning

Zoning Code R-3 (R-3 Residential)
R-3 (R-3 Residential)
  • Listing ID: 34165654

  • Date on Market: 12/11/2024

  • Last Updated:

  • Address: 4236 Columbus St, Bakersfield, CA 93306

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