NOT LISTED FOR SALE

300 Belle Ave Bakersfield, CA 93308

3 Beds
2 Baths
3,444 Sq Ft
9,628 Sq Ft Lot

Last Sold March 18, 2020

Last sale price $275,000 $80 Per Sq Ft

42 Days on Market

Highlights

  • Evaporated cooling system
  • Laundry Room
  • 1-Story Property

About This Home

As of March 2020

We are pleased to present this opportunity to acquire a 5 unit multifamily property. Comprised of three (3) two (2) bedroom, one (1) bathroom units and two (2) one (1) bedroom, one (1) bathroom units. With a gross rentable square footage of 3,444 sq.ft. this property is perfect for any investor looking for a fixer upper with upside in rent as well as value-add opportunities with a moderate repair budget. All tenants are m2m and the offering is 100% occupied.

Last Agent to Sell the Property

Lee Barrison

Infinity Real Estate Services License #01527362 Listed on: 01/20/2020

Infinity Real Estate Services

Last Buyer's Agent

NoEmail NoEmail

NONMEMBER MRML

NONMEMBER MRML

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1941

Lot Details

  • 9,628 Sq Ft Lot
  • No Common Walls
  • Density is up to 1 Unit/Acre

Parking

  • Parking Available

Home Design

  • Cosmetic Repairs Needed
  • Fixer Upper
  • Slab Foundation
  • Composition Roof

Interior Spaces

  • 3,444 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Laundry

  • Laundry Room
  • Washer and Gas Dryer Hookup

Additional Features

  • Suburban Location
  • Evaporated cooling system

Listing and Financial Details

  • Legal Lot and Block 25 / L25
  • Assessor Parcel Number 11407010000

Community Details

Overview

  • 4 Buildings
  • 5 Units

Building Details

  • 6 Leased Units
  • Rent Control
  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 5 Separate Water Meters
  • Insurance Expense $1,205
  • Professional Management Expense $1,848
  • Trash Expense $330
  • Water Sewer Expense $1,000
  • New Taxes Expense $6,270
  • Operating Expense $14,753
  • Gross Income $35,340
  • Net Operating Income $19,526

Property Details

Home Type

Multi-Family

Year Built

Built in 1941

Lot Details

0

Listing Details

  • CapRate: 6.70
  • Professional Management Expense: 1848.00
  • Property Attached: No
  • Water Sewer Expenses: 1000.00
  • Zoning: R-2
  • Property Condition: Fixer, Repairs Cosmetic
  • Property Type: Residential Income
  • Parcel Number: 11407010000
  • Year Built: 1941
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 1
  • Common Walls: No Common Walls
  • Levels: One
  • Price Per Square Foot: 79.85

Exterior Features

  • Foundation: Slab
  • Pool Private: No
  • Roof: Composition

Garage/Parking

  • Parking: Yes

Utilities

  • Laundry: Yes
  • Laundry Features: Gas Dryer Hookup, Inside, Washer Hookup
  • Sewer: Public Sewer
  • Trash Expense: 330.00
  • Water Source: Public
  • Cooling: Evaporative Cooling
  • Cooling: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 9628.00
  • Lot Size Acres: 0.2210

Multi Family

  • Gross Income: 35340.00
  • Gross Multiplier: 12.18
  • Gross Operating Income: 34279.00
  • Gross Scheduled Income: 35340.00
  • Insurance Expense: 1205.00
  • Lot Size Area: 9628.0000 Square Feet
  • Net Operating Income: 19526.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 5
  • Number Of Units Leased: 6
  • Number Of Units Total: 5
  • Operating Expense: 14753.00
  • Rent Control: Yes
  • Total Expenses: 14753.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 6270.00
  • Tax Block: L25
  • Tax Census Tract: 3.00
  • Tax Lot: 25

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
03/18/2020 03/18/20 Sold $275,000 -5.2% $80 / Sq Ft
03/02/2020 03/02/20 Pending -- -- --
01/20/2020 01/20/20 For Sale $290,000 +45.0% $84 / Sq Ft
09/11/2015 09/11/15 Sold $200,000 -13.0% $58 / Sq Ft View Prior Sale
08/12/2015 08/12/15 Pending -- -- --
05/18/2015 05/18/15 For Sale $229,900 -- $67 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

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
2025 $7,736 $300,747 $31,713 $269,034
2024 $7,736 $294,851 $31,092 $263,759
2023 $7,488 $289,071 $30,483 $258,588
2022 $6,835 $283,404 $29,886 $253,518
2021 $6,462 $277,848 $29,300 $248,548
2020 $5,466 $216,485 $27,060 $189,425
2019 $5,408 $216,485 $27,060 $189,425
2018 $5,211 $208,080 $26,010 $182,070
2017 $5,044 $204,000 $25,500 $178,500
2016 $3,865 $200,000 $25,000 $175,000
2015 $3,453 $170,000 $30,000 $140,000
2014 $3,417 $170,000 $30,000 $140,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SR20013910

California Regional Multiple Listing Service (CRMLS)