5200 Olive Tree CtBakersfield, CA 93308

Property Details for 5200 Olive Tree Ct

Year built

1984

Construction

WOOD

Lot size

0.56 AC

Property size (Sq ft)

30,468 SF

Zone code

C-2

Property type

Motels

APN

364-211-10-00-0

APU

36421110000

Description

This exceptional value-add opportunity presents a 100-key motel ideally situated in Bakersfield, California. The property, known as the Best Economy Inn, boasts a substantial 30,468 square feet of building space spread across three, two-story buildings, all situated on a generous 69,260 square foot lot. Built in 1981, the motel is zoned C2, offering potential for various redevelopment or expansion options. The property's current configuration includes 100 keys, providing a solid foundation for immediate income generation and future growth. The location at 5200 Olive Tree Ct, Bakersfield, CA 93308, within Kern County, offers convenient access to local amenities and transportation routes. This represents a significant opportunity for investors seeking to capitalize on the strong hospitality market in Bakersfield. The motivated seller invites all offers, making this a compelling investment prospect for those with a vision for enhancing and maximizing the property's potential. The property's size and zoning provide flexibility for future development plans, allowing for creative approaches to increase revenue and profitability. This is a rare chance to acquire a well-located, established motel with significant upside potential. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $9,867,184

  6.5%

  $9,108,169

  7%

  $8,457,586

• Comparable approach

  Method

  Valuation

  Relative Method

  $13,615,418

  Geo Method

  $13,615,418

• Alternative Use

  Use

  Valuation

  Residential

  $9,943,475

  Hospitality

  $9,108,169

  Educational

  $7,577,890

  Medical

  $7,838,506

  Retail

  $11,787,829

Location Insight

City

Bakersfield

County

Kern

State

California

Latitude

35.416

Longitude

-119.061

CBSA code

12540

CBSA name

BAKERSFIELD, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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