Investment Overview

Marcus and Millichap are pleased to have been chosen to Exclusively Represent for Sale this +/- 12.98 acres of R2 – PD zoned Residential land. This is (2) parcels to be sold together in a portfolio with APN#’s 516-020-25,24. This land can be bought to develop now or for future development. The infrastructure improvements are in place on Monitor which is a bonus. There have been some Conceptual site plans completed for either a 4-plex concept or larger apartment cluster concept. The current seller purchased the contiguous 4.47 acres to make the parcel larger. This will allow the new buyer to build 200-220 units total, depending upon design approvals, etc. This property's perimeter improvements are partially installed, and the utilities are contiguous to the site in the street. There are High School, Middle & Elementary schools across the street. This provides an incredibly good reason for apartment dwellers to live here. There is a new offramp that has been built on Hwy 99 that feeds this area directly. The area has been significantly improved and has massive amounts of new Retail Shopping coming the area adjacent to the highway on both sides of the offramp. This is becoming a thriving new destination. There are a lot of Capital Groups looking to purchase larger apartment complexes if any future Buyer wants to sell out after building. This property is priced right to make a deal happen and have the Owners succeed! Bakersfield is a very Developer friendly town with shorter timelines for processing and permitting new construction projects. Our housing needs are under supplied and in need of more apartments, etc.