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4215 Teal Bakersfield, CA 93304
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Key Details
Sold Price $7,250,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PW25036712
Sold Date 07/14/25
Bedrooms 8
Property Sub-Type Res Income 2-4 Units
Property Description
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.
Location
State CA
County Kern
Zoning Assessor
Direction 99 to White Ln exit, left on Hughes, right on Teal Street
Interior
Cooling Central Forced Air
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Read Less
Bought with Ed Diaz Vanguard Property Group