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2103 Niles Ave, Bakersfield, CA 93305
$615,500
2103 Niles Ave, Bakersfield, CA 93305View this property at 2103 Niles Ave, Bakersfield, CA 93305
2103 Niles AveBakersfieldCA93305
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Property Description
We are pleased to present for sale 2035 Niles Street in Bakersfield, CA. An eight-unit mixed-use property that consists of four separate buildings featuring a total of four residential units and four commercial units on a 23,958 SF lot. This property consists of a freestanding house (2-bedroom & 1-bath) with a private yard and parking for multiple cars; a freestanding duplex with garages for five cars on the bottom (1-bedroom & 1-bath each unit); an apartment (2-bedroom & 1-bath sitting above a warehouse/shop); two retail spaces at the front of the property (a travel agency and a barbershop); an office; and an approximately 2,000 SF warehouse/shop with access to the alley.
This asset is located on a busy commercial street just a couple lots from the intersection of Niles St and Mt. Vernon Ave (+15,000 VPD); across the street from a Family Dollar store, which sits on a similar 23,836 SF lot and was sold in 2014 for $2,052,174; adjacent to the renovated Universal Urgent Care-Nile facility; 2.8 miles away from Downtown Bakersfield; and an 8-minute walk to East Bakersfield Highschool.
This is a value-add opportunity with considerable upside. The warehouse/shop and the office will be delivered unfilled, allowing for an owner-user to establish operations there. This available space will also allow an investor to rent at market rates achieving a 6.37% cap rate on this acquisition. After renovations, this property has the potential to be stabilized north of a 7.79% cap rate of its purchase price.
(More Information in the MLS link "Listing has Supplements" | Please click that link to access OM)
Full Property Details
Full Property Details for 2103 Niles Ave
General
- Sold For: $615,500
- Status: Closed
- Type: Multi-Family
- MLS ID: PW22053817
- Added to Site: 792 day(s) ago
Rooms
Other Rooms
- Laundry: Washer Hookup
Additional Information
- Pool Description: None
Parking
- Garage Spaces: 10
Location
- Area: BKSF - Bakersfield
- County: Kern
- Development Name: BKSF - Bakersfield
- Driving Directions: Nils St and Mt. Vernon Ave
Utilities
- Sewer: Public Sewer
- Water: Public
- # Water Meters: 1
- # Gas Meters: 8
- # Electric Meters: 8
Structural Information
- Square Feet: 5,706
- Year Built: 1955
Unit Information
Unit 1
- Number of Units: 1
- Total Bathrooms: 1
- Bedrooms: 1
Unit 2
- Number of Units: 1
- Total Bathrooms: 1
- Bedrooms: 1
Unit 3
- Number of Units: 1
- Total Bathrooms: 1
- Bedrooms: 2
Unit 4
- Number of Units: 1
- Total Bathrooms: 1
- Bedrooms: 2
Unit 5
- Number of Units: 1
- Total Bathrooms: 1
Unit 6
- Number of Units: 1
- Total Bathrooms: 1
Unit 7
- Number of Units: 1
- Total Bathrooms: 2
Unit 8
- Number of Units: 1
Lot Features
- Lot Size (Acres): 0.55
- Lot Size Source: Owner
- Lot Description: 6-10 Units/Acre
Financial Considerations
- Price Per Sq. Ft.: $107.87
- Price Per Unit: 86875
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2%
Listed and Sold by Lyon Stahl Investment Real Est, Alex Colombo
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Schools
Schools serving 2103 Niles Ave
School Districts:Bakersfield City Schools, Kern High School District
Rating | Name | Grades | Distance |
---|---|---|---|
2710 Niles St, Bakersfield, CA 93306 | K-5 | 0.7 mi | |
801 4th St, Bakersfield, CA 93304 | 6-8 | 2.6 mi | |
2200 Quincy Dr, Bakersfield, CA 93306 | 9-12 | 0.3 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 2103 Niles Ave
Date
Details
Price
Change
Source
5/11/2022
Sold
$615,500
-11.44%
MLS
3/17/2022
Listed
$695,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
2103 Niles Ave, Bakersfield, CA 93305 (MLS# PW22053817) is a Multi-Family property that was sold at $615,500 on May 11, 2022. Want to learn more about 2103 Niles Ave? Do you have questions about finding other Multi-Family real estate for sale in Bakersfield? You can browse all Bakersfield real estate or contact a Coldwell Banker agent to request more information.