NOT LISTED FOR SALE
-- Beds
-- Baths
6,137 Sq Ft
0.36 Acre Lot

Sale Details

Date Sold: May 27, 2020

Last sale price $2,700,000 $440 Per Sq Ft

73 Days on Market

About This Home

As of May 2020

30 units located in the upper NE Bakersfield submarket within walking distance to Bakersfield Junior college with enrollment of 19,428 students. The property is also one block from the Panorama Bluffs park which is one of the most popular recreation areas in NE Bakersfield. 2521-27 & 2601 Bishop were built between 1960-1964. These two side by side buildings consists of (25) 2-bedroom units and (5) 1-bedroom units. The current owners have done a nice job maintaining this property for the enjoyment of the residents. The rents range from $600-$800 and appear to have upside potential in the low 3.25% vacancy rate currently enjoyed amongst Bakersfield landlords.

Last Agent to Sell the Property

Marc Thurston

ASU Commercial License #1099353 Listed on: 02/14/2020

Last Buyer's Agent

Non-Member Non-Member

Non-Member Office

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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1963

Lot Details

  • 15,797 Sq Ft Lot

Interior Spaces

  • 6,137 Sq Ft Home
  • 2-Story Property

Parking

  • Carport
  • Uncovered Parking

Listing and Financial Details

  • Assessor Parcel Number 38205203

Community Details

Overview

  • 30 Units

Building Details

  • Gross Income $263,544
  • Net Operating Income $138,646

Property Details

Home Type

Multi-Family

Year Built

Built in 1963

Lot Details

0.36 Acres

Listing Details

  • Prop. Type: ResidentialIncome
  • Year Built: 1963
  • Building Stories: 2
  • Property Sub Type: 11 Plus
  • Special Features: None
  • Stories: 2

Interior Features

  • Living Area: 6137.00

Exterior Features

  • Disclosures: None of the Above

Garage/Parking

  • Parking Features: Carport, Uncovered

Utilities

  • Heatcool: Central AC,Central Heat,Floor/Wall Heater

Lot Info

  • Lot Size Sq Ft: 15797.00
  • Parcel #: 38205203

Multi Family

  • Total Annual Expense: 123022.00
  • Vacancy Factor: 3.00
  • Number Of Units Total: 30
  • Annual Gross Income: 263544.00
  • Property Net Operating Income: 138646.00

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 14, 2020
Closed on
Apr 17, 2020
Sold by
Bloom Max and Bloom Christine
Bought by
Seller's Agent
Marc Thurston
ASU Commercial
Buyer's Agent
Non-Member Non-Member
Non-Member Office
List Price
$2,775,000
Sold Price
$2,700,000
Premium/Discount to List
-$75,000
-2.7%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,500,000
Outstanding Balance
$1,299,705
Interest Rate
3.3%

Purchase Details

Closed on
Nov 14, 2012
Sold by
California Capital Equities Llc
Bought by
Ausserbauer Michele and Lewis M Burford & Mary A Burford 1987 Tr

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$985,000
Interest Rate
3.33%

Purchase Details

Closed on
Apr 12, 2010
Sold by
Kurian Baby and Kurian Lissyamma
Bought by
California Capital Equities Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,040,000
Interest Rate
4.93%

Purchase Details

Closed on
Feb 23, 2010
Sold by
Chin Nelly D
Bought by
Kurian Baby

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,040,000
Interest Rate
4.93%

Purchase Details

Closed on
Aug 20, 2002
Sold by
Meyer Judith E
Bought by
Chin Yoke Sein

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,200,000
Interest Rate
6.29%
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$2,700,000 Placer Title Company
Ausserbauer Michele -- Ticor Title
California Capital Equities Llc -- None Available
Kurian Baby -- North American Title Company
Chin Yoke Sein $1,800,000 Chicago Title Co
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $1,500,000
Previous Owner Ausserbauer Michele $60,000
Previous Owner Ausserbauer Michell $110,000
Previous Owner Ausserbauer Michele $1,098,500
Previous Owner Ausserbauer Michele $985,000
Previous Owner California Capital Equities Llc $550,000
Previous Owner Kurian Baby $2,040,000
Previous Owner Kurian Baby $50,000
Previous Owner Chin Yoke Sein $1,200,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
05/27/2020 05/27/20 Sold $2,700,000 -2.7% $440 / Sq Ft
04/27/2020 04/27/20 Pending -- -- --
02/14/2020 02/14/20 For Sale $2,775,000 -- $452 / Sq Ft
Source: Bakersfield Association of REALTORS® / GEMLS

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2026 $17,753 $1,204,754 $155,054 $1,049,700
2025 $17,505 $1,181,132 $152,014 $1,029,118
2024 $17,505 $1,157,974 $149,034 $1,008,940
2023 $17,110 $1,135,269 $146,112 $989,157
2022 $16,729 $1,113,010 $143,248 $969,762
2021 $16,017 $1,091,188 $140,440 $950,748
2020 $12,227 $785,844 $59,533 $726,311
2019 $12,034 $785,844 $59,533 $726,311
2018 $11,800 $755,330 $57,222 $698,108
2017 $11,769 $740,520 $56,100 $684,420
2016 $10,850 $726,000 $55,000 $671,000
2015 $10,528 $691,611 $46,107 $645,504
2014 $10,221 $678,064 $45,204 $632,860
Source: Public Records

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Map

Source: Bakersfield Association of REALTORS® / GEMLS

MLS Number: 202001628

Bakersfield Association of REALTORS® / GEMLS
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