2801 Morin Court, Bakersfield, CA 93304

Property Description

INVESTMENT OPPORTUNITY: Well-maintained 4-plex in Southwest Bakersfield's desirable Wible Orchard neighborhood. Built in 1985, this 2-story quadruplex sits on a quiet cul-de-sac with an 8,079 sq ft lot. Three units are currently occupied with established tenants. One fully furnished unit has been successfully used as a seasonal rental. You have the option to rent it out or make it an owner-occupied unit. This flexibility makes it attractive for short-term workers, corporate housing, or long-term tenants. Please note: Furniture is not included in the sale of the property, but it can be negotiated. All units are currently occupied. Location Advantages: Located in a growing neighborhood just south of downtown Bakersfield, with three shopping centers within 0.8 miles, diverse dining options on New Stine Road and California Avenue, nearby parks, and proximity to Cal State Bakersfield and Bakersfield College. Gross Scheduled Income (GSI) $58,920 Less: Projected Vacancy / Credit Loss (5%) ($2,946) Gross Operating Income (GOI) $55,974 Property Taxes $9,304 Water (estimated $200/month) $2,400 Utilities $1,107 Trash $173 Pest Control $600 Landscaping $830 Insurance $2,145 Internet / Wi-Fi $211 Estimated Routine Maintenance $3,000 Total Operating Expenses $19,770 PROJECTED NET OPERATING INCOME $36,204 Asking Price $695,000 PROJECTED CAPITALIZATION RATE 5.21%