1234 Chester AveBakersfield, CA 93301

This exceptional value-add investment opportunity presents a portfolio of eight buildings totaling 18,015 square feet situated on a 32,937 square foot lot in the heart of Downtown Bakersfield, California (93301). The portfolio, located at 1234 Chester Avenue and encompassing addresses 1222-1232, 1300-1304, and 1306 Chester Avenue, consists of a diverse mix of multi-tenant and single-tenant office spaces, including a four-plex residential unit. Currently boasting 83.34% occupancy across multiple short-term and month-to-month leases, this presents a significant opportunity for immediate income growth through lease renewals and rent increases. The portfolio features eight buildings, two stories maximum, and is zoned C-C by the City of Bakersfield (APN: 006-460-15, 18, 19, 25). The asking price is $2,200,000, with a current cap rate of 5.38% and a pro-forma cap rate of 7.78%. The average tenant size is under 1,000 square feet, providing diversification of occupancy. Benefiting from a prime location near Bakersfield City Hall, Kern County Superior Court, and numerous amenities including Starbucks, Maya Cinemas, and Bakersfield High School, this portfolio offers significant upside potential for a savvy investor. The properties will be sold as a single portfolio, not individually. Lease type is Gross.