701 Woodrow Ave
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701 Woodrow Ave
3,500 SF Specialty Building Offered at $694,999 at a 5.40% Cap Rate in Bakersfield, CA 93308
Investment Highlights
- 4 Units Completely Remodeled
- High Rental Demand
- Value-add Potential
Executive Summary
Central Valley Property Advisors is thrilled to exclusively offer this five-unit multifamily property—a robust investment opportunity with
strong upside potential. The property includes a desirable unit mix: one three-bedroom, one-bathroom unit; one two-bedroom,
two bathroom unit; two one-bedroom, one-bathroom units; and a studio, catering to a variety of rental needs and maximizing tenant appeal. Four of the five units have been extensively remodeled, including two down-to-the-studs renovations and two full remodels. These
units now feature upgrades like stucco work, vinyl flooring, windows, AC units, countertops, and modern appliances, offering tenants a high-end rental experience. The front house, freshly painted, presents a value-add opportunity with minor TLC. With current rents falling $400-$500 below market rates, there is clear potential for rental growth. Key capital improvements further enhance the property’s appeal, including a new main sewer line from the front house to the alley and recent updates to plumbing and electrical systems, ensuring reduced maintenance costs and solid long-term performance. This property is an ideal acquisition for investors seeking immediate cash flow along with significant rental upside in a dynamic and growing rental market.
strong upside potential. The property includes a desirable unit mix: one three-bedroom, one-bathroom unit; one two-bedroom,
two bathroom unit; two one-bedroom, one-bathroom units; and a studio, catering to a variety of rental needs and maximizing tenant appeal. Four of the five units have been extensively remodeled, including two down-to-the-studs renovations and two full remodels. These
units now feature upgrades like stucco work, vinyl flooring, windows, AC units, countertops, and modern appliances, offering tenants a high-end rental experience. The front house, freshly painted, presents a value-add opportunity with minor TLC. With current rents falling $400-$500 below market rates, there is clear potential for rental growth. Key capital improvements further enhance the property’s appeal, including a new main sewer line from the front house to the alley and recent updates to plumbing and electrical systems, ensuring reduced maintenance costs and solid long-term performance. This property is an ideal acquisition for investors seeking immediate cash flow along with significant rental upside in a dynamic and growing rental market.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
---|---|---|
Gross Rental Income | $68,652 | $23.01 |
Other Income | - | - |
Vacancy Loss | $2,059 | $0.69 |
Effective Gross Income | $66,593 | $22.32 |
Taxes | - | - |
Operating Expenses | - | - |
Total Expenses | $29,388 | $9.85 |
Net Operating Income | $37,205 | $12.47 |
Financial Summary (Actual - 2023)
Gross Rental Income | |
---|---|
Annual | $68,652 |
Annual Per SF | $23.01 |
Other Income | |
---|---|
Annual | - |
Annual Per SF | - |
Vacancy Loss | |
---|---|
Annual | $2,059 |
Annual Per SF | $0.69 |
Effective Gross Income | |
---|---|
Annual | $66,593 |
Annual Per SF | $22.32 |
Taxes | |
---|---|
Annual | - |
Annual Per SF | - |
Operating Expenses | |
---|---|
Annual | - |
Annual Per SF | - |
Total Expenses | |
---|---|
Annual | $29,388 |
Annual Per SF | $9.85 |
Net Operating Income | |
---|---|
Annual | $37,205 |
Annual Per SF | $12.47 |
Property Facts
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PROPERTY TAXES
Parcel Number | 113-042-12-00-4 | Improvements Assessment | $278,827 (2024) |
Land Assessment | $62,424 (2024) | Total Assessment | $341,251 (2024) |
PROPERTY TAXES
Parcel Number
113-042-12-00-4
Land Assessment
$62,424 (2024)
Improvements Assessment
$278,827 (2024)
Total Assessment
$341,251 (2024)
zoning
Zoning Code | RS (R3) |
RS (R3) |
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701 Woodrow Ave
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