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Stine Road Apts 
222 Stine Road
 Bakersfield, CA 93309
County: Kern
 
Mary Sawyer, CCIM
(661) 282-9041
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  For Sale Active  
Type:Multifamily
Garden/Low-Rise
No. Units:15
Building Size:13,000 SF
Lot Size:44,517 SF
Occupancy:100.00%
Price:$1,200,000
Price/Unit:$80,000
GRM:10.64
Cap Rate:5.63%
Year Built:1955
Date Last Verified:8/2/2008
Property ID:15658294
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 Additional Information 

Property Description:
Nice clean older units in good rental area of SW Bakersfield. Property has 1 three bedrm SFR; 13 two bedrm apts; 1 commercial building being used for Beauty Salon. Well maintained, little or no deferred maintenance apparent from exterior, stable tenants, professionally managed. Close to shopping, schools, recreation, transportation, etc. Sq ft is incorrect, estimate only. Rents were raised 4/1/08 and could be higher.

Location Description:
West of 99 Freeway between Stockdale Highway and Belle Terrace in a residential neighborhood with some commercial buildings as is customary.

No. Stories:1Commission Split:2.5%
TaxID/APN:149-340-14
 Highlights 
•14 residential units plus a commercial building•Well maintained
 
•Located West of Freeway 99•Air conditioned
 
•Composition roofs•Fully landscaped and paved
  Financial Summary Actual  
Year:2007
Scheduled Gross Income:$103,530
Net Operating Income:$67,560
 
  Unit Mix Information
3 bd/1ba SFR
No. Units: 1
Avg. Mo. Rent: $1,050
 
2 bd/1 ba
No. Units: 13
Avg. Mo. Rent: $625
 
Commercial building
No. Units: 1
Avg. Mo. Rent: $300
 
 
  Debt & Equity Information
No Debt & Equity Information Provided

4/10/2008
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The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
 
 
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