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$1,275,000
Est. payment /mo
5,114 SqFt
Active
520 Union Avenue Bakersfield, CA 93307
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Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 5,114 sqft
Price per Sqft $249
MLS Listing ID 202511816
Year Built 1946
Lot Size 0.488 Acres
Acres 0.4876
Property Sub-Type Commercial
Property Description
Seize a unique value-add opportunity at 520-530 Union Avenue, a mixed-use complex positioned for revitalization in a high-traffic area of Bakersfield. APX 31,000 average daily traffic count! With 7 residential (6 OCCUPIED) units (5723 SF) AND 6,842 SF of commercial space that is currently vacant, this multi-use property allows investors to immediately capitalize on Bakersfield's strong rental demand and expanding economy. Recent local government initiatives, include the Complete Streets Ordinance. With a projected $13,596/month, and actual 2024 expenses, the property earns a 8.6% Cap Rate! Located within an ECONOMIC OPPORTUNITY ZONE. 510 Union Ave VACANT C-2 zoned 6000 SF lot next door INCLUDED in the sale: it is 50' X 120'.SELLER will FINANCE entire property with 50% down.
Location
State CA
County Kern
Area 41
Zoning C-2 Commercial
Exterior
Present Use Commercial and Residential Mixed Use
Listed by Phil M Jordan • Keller Williams Realty
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