7201 College AveBakersfield, CA 93306

Property Details for 7201 College Ave

Lot size

13.18 AC

Property type

Residential income properties

Property subtype

Other land

Description

This exceptional 13.18-acre property, located at 7201 College Ave in Bakersfield, CA 93306 (APN 132-020-03-00-7), presents a compelling opportunity for multifamily development. Zoned R-3/PUD Residential Land, it offers a streamlined path to construction, leveraging existing entitlements for a substantial number of residential units. While past entitlements exist, the property allows for the potential development of up to 226 dwelling units, catering to a mix of market-rate and affordable housing needs. Situated in a quiet, established neighborhood, this site benefits from proximity to schools, medical facilities, and ample job opportunities. The property is offered fee simple and is priced at $2,200,000, making it an attractive investment for developers seeking a fast-track project. The seller will consider all reasonable offers and scenarios. The property's location offers easy access to Bakersfield College and California State University, Bakersfield, and is within reasonable proximity to several military bases. Existing reports and contact information from previous development efforts are available, expediting the planning and approval process. The area demonstrates strong rental growth, with a 9% increase over the past year and a 47.3% increase over the past decade, indicating a robust rental market. This presents a significant advantage for investors seeking a high-return investment in a rapidly growing area. Tax incentives for solar and affordable housing further enhance the property's appeal. The seller is motivated and open to joint ventures with experienced developers and builders.

Location Insight

City

Bakersfield

County

Kern

State

California

Latitude

35.3816

Longitude

-118.924

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