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Listed by Ed Diaz • Vanguard Property Group
Bought with Ed Diaz
Bought with Ed Diaz
$ 7,250,000
$ 7,250,000
Est. payment /mo
Sold on 07/14/2025
4215 Teal Bakersfield, CA 93304
2.2 Acres Lot
UPDATED:
Key Details
Sold Price $7,250,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CRPW25036712
Sold Date 07/14/25
Year Built 1984
Lot Size 2.199 Acres
Source California Regional MLS
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 Forced Air
Cooling Central AC
Laundry Community Facility
Exterior
Parking Features Carport , Detached Garage, Other
Garage Spaces 119.0
Pool 31, None
Building
Water District - Public
Others
Special Listing Condition Not Applicable
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