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1227 Chester Avenue

Bakersfield, CA 93301
  • $1,745,000
  • STATUS: Active
  • ON SITE: 56 Days
  • ID#: 202208697
UPDATED: 30 min ago
$1,745,000
  • 0
    BEDS
  • 0.27
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 9,330
    SQFT
  • $187
    $/SQFT
Neighborhood:
10
Type:
Commercial
Built:
1970
County:
Area:
10

School Ratings & Info

Description

1227 Chester Avenue is a unique opportunity for an owner-user or investor to acquire a prominent, two-story freestanding office building with frontage on Chester Avenue near the highly trafficked intersection of Chester Avenue and California Avenue in the heart of Downtown Bakersfield. The building is elevator served, ADA compliant, and was recently renovated in 2018 for a new tenant, Bristol Hospice. Their term expires in March of 2024 and the contract rent is below market lease rates yet still offers an investor more than a 7% return in year one on in-place income with potential for upside. A new owner may choose to negotiate an early termination or re-lease the property to a new tenant upon their expiration. Flexible C-C (Commercial Center) zoning allows for many commercial, office and multi-family uses, and the property enjoys easy access to all areas of Kern County via Highway 58, 99, 178, and the Westside Parkway.

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Information deemed reliable, but not guaranteed. Copyright Golden Empire MLS, Inc. 2022. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by Asu Commercial or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Data last updated: 2022-09-28T07:31:37.77.
www.kerncountyhouse.com/homes/131528132
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1227 Chester Avenue Bakersfield, CA 93301

  • Price: $1,745,000
  • Status: Active
  • On Site: 56 Days
  • Updated: 30 min ago
  • ID#: 202208697
0
Beds
0
Baths
0
½ Baths
0.27
Acres
9,330
SQFT
$187
$/SQFT
1970
Built
Neighborhood:
10
County:
Kern
Area:
10
Property Description
1227 Chester Avenue is a unique opportunity for an owner-user or investor to acquire a prominent, two-story freestanding office building with frontage on Chester Avenue near the highly trafficked intersection of Chester Avenue and California Avenue in the heart of Downtown Bakersfield. The building is elevator served, ADA compliant, and was recently renovated in 2018 for a new tenant, Bristol Hospice. Their term expires in March of 2024 and the contract rent is below market lease rates yet still offers an investor more than a 7% return in year one on in-place income with potential for upside. A new owner may choose to negotiate an early termination or re-lease the property to a new tenant upon their expiration. Flexible C-C (Commercial Center) zoning allows for many commercial, office and multi-family uses, and the property enjoys easy access to all areas of Kern County via Highway 58, 99, 178, and the Westside Parkway.
Property Features

Annual Gross Income 130044.00 Annual Net Income 123548.80 Cap Rate 7.08% Commercial Type Commercial Current Use Bristol Hospice - Office Total Annual Expense 0.00 Zone C-C (Commercial Center)City Of Bakersfield

Listing courtesy of Dylan Lym of Asu Commercial: .


Information deemed reliable, but not guaranteed. Copyright Golden Empire MLS, Inc. 2022. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by Asu Commercial or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Data last updated: 2022-09-28T07:31:37.77.
 
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Infinity Real Estate Services
900 Truxtun Avenue Suite #230
Bakersfield CA, 93301