Seller's Agent in 2024
Brad New
Vanguard Property Group
(714) 446-0100
1 in this area
30 Total Sales
3321 Chester Ln Bakersfield, CA 93309
Park Stockdale Neighborhood
18
Beds
18
Baths
15,520
Sq Ft
0.92
Acres
Highlights
- No Units Above
- 0.92 Acre Lot
- Central Heating and Cooling System
- Gated Parking
- Laundry Room
- Block Wall Fence
About This Home
As of May 2024Major price adjustment - seller willing to meet the market. The Chester Lane Townhomes is a true opportunity for a savvy investor; priced well below replacement cost ($131 CPSF) and 6.42 Cap/8.8 GRM on actual rents with upside to 7.67 Cap/7.95 GRM on market rents. The subject property is a 16 unit multifamily property located approximately 1/4 of a mile from the 99 frwy and California Avenue Exit (west Bakersfield), in a quiet cul-de-sac street. Built in 1984, the Chester Lane Townhomes are situated on a self-contained, gated access, 40,000 sf lot and consists of 16 spacious (2+1.5) townhome style units with approx. 950 sf each; all units have central AC/HT, patios, in-unit washer & dryer hookups, separate gas/electric meters, and RUBS in place for lower overall landlord utility expense. There is ample parking available with a total of 33 onsite spaces of which 12 are covered. There are two potential onsite storage rooms (currently unrented) for additional landlord income. The Chester Lane Townhomes is priced to sell, well below replacement - a perfect apartment investment for investors looking for cash flow and equity growth.
Last Agent to Sell the Property
Vanguard Property Group Brokerage Phone: 714-928-6833 License #01347742 Listed on: 01/17/2024
Townhouse Details
Home Type
- Townhome
Year Built
- Built in 1984
Lot Details
- No Units Above
- 1 Common Wall
- Block Wall Fence
- Density is 16-20 Units/Acre
Home Design
- Tile Roof
Interior Spaces
- 15,520 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 18 Bedrooms
- 18 Bathrooms
Laundry
- Laundry Room
- Stacked Washer and Dryer
Parking
- 33 Open Parking Spaces
- 45 Parking Spaces
- 12 Carport Spaces
- Parking Available
- Driveway
- Gated Parking
- Paved Parking
- Parking Lot
Utilities
- Central Heating and Cooling System
- Natural Gas Connected
- Sewer Paid
- Cable TV Available
Listing and Financial Details
- $1 per year additional tax assessments
Community Details
Overview
- 4 Buildings
- 16 Units
Building Details
- Rent Control
- 16 Separate Electric Meters
- 16 Separate Gas Meters
- 1 Separate Water Meter
- Operating Expense $90,000
- Gross Income $224,568
- Net Operating Income $127,831
Create a Home Valuation Report for This Property
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/10/2024 05/10/24 | Sold | $2,000,000 | +0.5% | $129 / Sq Ft |
| 02/27/2024 02/27/24 | Pending | -- | -- | -- |
| 02/14/2024 02/14/24 | Price Changed | $1,990,000 | -16.9% | $128 / Sq Ft |
| 01/17/2024 01/17/24 | For Sale | $2,395,000 | -- | $154 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Brad New
-
Ed Diaz
Seller Co-Listing Agent in 2024
Ed Diaz
Vanguard Property Group
(714) 900-0169
1 in this area
30 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW24006820
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