$7,250,000
$7,250,000
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4215 Teal Bakersfield, CA 93304
2.2 Acres Lot
Key Details
Sold Price $7,250,000
Property Type Apartment
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PW25036712
Sold Date 07/14/25
HOA Y/N No
Year Built 1984
Lot Size 2.199 Acres
Property Sub-Type Apartment
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
Area Bksf - Bakersfield
Interior
Heating Central
Cooling Central Air
Fireplace No
Laundry Common Area
Exterior
Parking Features Asphalt, Carport, Detached Carport, Driveway, Paved
Pool None
Community Features Curbs, Sidewalks
Utilities Available Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
Total Parking Spaces 119
Private Pool No
Building
Lot Description Lot Over 40000 Sqft
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Energy Description 1.0
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Financing Conventional
Special Listing Condition Standard
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Bought with Ed Diaz Vanguard Property Group
