Bakersfield, CA 93304 4215 Teal
$7,250,000
27 more
Presented By: Ed Diaz with Vanguard Property Group; 714-401-2855
Beds • 116
Full/Half Baths • 8 / 8
SQFT • 56,000
Garage • 1
Year Built • 1984
Home Details
We are pleased to present the Teal Townhomes, a 58 unit garden style multifamily apartment building built in 1984 located in Southwest Bakersfield (4211-4221 Teal Street - complete address/405-121-02-00-9, 405-121-01-00-6 APNs ). This expansive apartment community features 58 spacious (2+1.5) townhome units, comprised of 13 separate buildings on a spacious 2.1-acre corner lot. Each unit boasts private patios and separate gas & electric meters. The subject property is well maintained with new asphalt in 2024 and all roofs replaced in 2015. Offered well below replacement value at $129 cost per square and foot (CPSF), an in-place 5.6% CAP/8.7GRM and a 7.4% proforma CAP/7.5 GRM - with these purchase factors and additional rental upside of 15%-18%, the Teal Townhomes offers the savvy multifamily investors an exciting repositioning opportunity with solid returns on their investment.
Presented By: Ed Diaz with Vanguard Property Group; 714-401-2855
Interior Features for 4215 Teal
Other Interior Features
Air Conditioning Y/NYes
Basement (Y/N)No
Common WallsTwoCommonWallsOrMore
Fireplace Y/NNo
Heating Y/NYes
Laundry FeaturesCommonArea
Total Stories2
Other Rooms
Entry Level1
General for 4215 Teal
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate5.6
Carport Y/NYes
CityBakersfield
Community FeaturesCurbs, Sidewalks
Construction MaterialsStucco, WoodSiding
CoolingCentralAir
CountyKern
Directions99 to White Ln exit, left on Hughes, right on Teal Street
Electric Expense1.0
Electric On Property Y/NNo
Entry Locationground
Fuel Expense1.0
Garage Spaces0.0
Garage Y/NNo
Gross Income846725.0
HOANo
HeatingCentral
Home Warranty Y/NNo
Insurance Expense1.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, CashToNewLoan, Conventional
Lot Size Square Feet95774.0
Lot Size UnitsSquareFeet
MLS AreaBKSF - Bakersfield
MobileHomeRemainsYNNo
Net Operating Income403439.0
New ConstructionNo
Number Of Units Total58
Open Parking Spaces55.0
Operating Expense418348.0
Pool FeaturesNone
PossessionCloseOfEscrow
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NNo
SewerPublicSewer
Spa FeaturesNone
Special Listing ConditionsStandard
Standard StatusActiveUnderContract
StatusActiveUnderContract
Stories2
Tax Lot2
Trash Expense1.0
UtilitiesElectricityConnected, NaturalGasConnected, PhoneConnected, SewerConnected, WaterConnected
Water Sewer Expense1.0
Waterfront Y/NNo
Year Built1984
Year Built SourceAssessor
Exterior for 4215 Teal
Building Area Total56000.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesLotOver40000Sqft
Lot Size Acres2.1987
Lot Size Area95774.0
Lot Size SourceAssessor
Number of Buildings13
Number of Separate Electric Meters60
Number of Separate Gas Meters60
Number of Separate Water Meters2
Open Parking Y/NNo
Parking FeaturesAsphalt, Carport, DetachedCarport, Driveway, Paved
Private PoolNo
Road Frontage TypeCityStreet
Road Surface TypePaved
SpaNo
Total Parking119.0
Water SourcePublic
Additional Details
Price History
Keegan Cin
Team Lead
Price
$7,250,000
MLS#PW25036712
List Date
02/20/2025
Property Type
Multi-Family
Phone
(310) 963-5595
