The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
June 14, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



SOUTHERN CALIFORNIA NEWS
Printer-friendly Version   Email an Associate
Bakersfield Multifamily Property Traded in a Deal that Works Out to $139k/Unit

10/25/23

Cedar Oaks Apartments, a 98-unit multifamily community in Bakersfield, was sold in a recent $13.6 mil ($138.8k/unit) transaction. According to CoStar, this sale represents the 2nd largest transaction this year in Bakersfield.

The garden style community sits on a 1.76-acre site at 3300 Gosford Rd. Built in 1984, the property is comprised entirely of two-bedroom apartment homes. Each unit features an all-electric kitchen, washer/dryer hookups, covered parking, and access to a community pool.

The property is surrounded by some of Bakersfield’s most affluent neighborhoods including Olde Stockdale and Seven Oaks at Grand Island. The property also attracts students from Cal State Bakersfield, which is only two miles away, helping the property consistently achieve high occupancy levels.

Mark Bonas with The Mogharebi Group represented the seller in the off-market transaction. Both the buyer and the seller are local Central Valley investors. The property was 98.5% leased at closing.





Return to the Archive page


 


 


 


 
 





Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media