Receivership Sale | 149 Unit Apartment Building | 62% Occupied

Description:

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Brokered by Marcus & Millichap and powered by RealINSIGHT Marketplace, 2700 White Lane is a 149-unit studio apartment community in southwest Bakersfield, California, offered via court-supervised sale. Built in 1965 as a hotel, the two-story, L-shaped, ±61,500-square-foot property was converted to multifamily use under a Conditional Use Permit approved by the Bakersfield Planning Commission in February 2024, giving a buyer a rare, already-entitled studio asset in the C-2 zone. As of the July 2026 rent roll, the community is 62% occupied and collecting $86,385 in monthly rent across 149 studio units averaging 413 square feet with a kitchenette. Capital improvements including fire sprinkler and alarm systems are complete and operational to code, and the required City park fee has been paid, while third-party bids are available for remaining exterior, accessibility, and site work. Rent potential is supported by local studio comparables and approved housing-assistance contract rents of up to $1,095 per month. Positioned at the Highway 99/White Lane interchange with strong visibility and access to surrounding retail and offered at an attractive basis relative to local apartment sales, 2700 White Lane presents a compelling value-add lease-up opportunity for an experienced multifamily investor, with seller financing available to qualified buyers.