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460 Oswell St, Bakersfield, CA 93307, Bakersfield, 93307 - bed, bath

460 Oswell St, Bakersfield, CA 93307 home-pic-0
ACTIVE$2,750,000$14,564/sqft
460 Oswell St, Bakersfield, CA 93307
0Bed
0Bath
14,564Sqft
66,646.797Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Significant Expansion Potential: The property includes nearly an acre of vacant land with the potential to develop an additional 19 townhouse units, offering substantial future rental income growth.
Top Cons:
MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =66646, other record lot size in square feet = 63162.

Compared to the nearby listings

Compared against 0 nearby listings

More Insights

Built in 2010 (16 years old).
Condition: Built in 2010, this property is 14 years old, falling within the 'Good' category's age range (10-20 years). The listing describes it as 'turnkey' with 'tasteful upgrades,' and images show well-maintained kitchens and bathrooms with stainless steel appliances, tile flooring throughout, and functional fixtures. While the kitchen cabinets and bathroom vanities have a more traditional style and the lighting is basic, all components appear to be in good working order with minimal wear and tear, requiring no immediate renovations.
Year Built
2010
Close
-
List price
$2.75M
Original List price
-
Price/Sqft
$189
HOA
$0
Days on market
-
Sold On
-
MLS number
IV26008410
Home ConditionGood
Features
Patio
View-

About this home

Oswell Townhouses presents an exceptional investment opportunity with a newer 2010 built property combining modern living with significant growth potential. This turnkey property comprises 11 townhouse-style units, each offering spacious 3-bedroom, 2-bath layouts that cater to the growing demand for comfortable and upscale rental options. It is rare to find a newer construction property with 3 bedroom townhouse style units. Tenants are drawn to the high-quality, condo-style living experience, complete with private patios, in-unit washers and dryers, and tasteful upgrades throughout. Furthermore, the property includes nearly an acre of land with the potential to develop an additional 19 townhouse units, dramatically increasing rental income possibilities. Currently yielding $228,200 in annual gross income with room for growth, Oswell Townhouses stands out as a prime investment for those looking to expand their portfolio with a property that offers both immediate returns and future expansion potential. Offered at a total purchase price of $2,750,000, the asset is comprised ofan 11-unit, townhouse-style apartment complex valued at $2,350,000, together with ±0.93 acres of adjacent vacant land valued at $400,000, or approximately $9.87 per square foot.

A
ANTHONY RODRIGUEZ
Listing Agent

Price History

Date
Event
Price
05/05/00
Sold
$89,000
12/13/99
Sold
$52,500
12/07/22
Sold
$1,800,000
09/19/05
Sold
$350,000
08/02/04
Sold
$155,000
Condition Rating
Good
Built in 2010, this property is 14 years old, falling within the 'Good' category's age range (10-20 years). The listing describes it as 'turnkey' with 'tasteful upgrades,' and images show well-maintained kitchens and bathrooms with stainless steel appliances, tile flooring throughout, and functional fixtures. While the kitchen cabinets and bathroom vanities have a more traditional style and the lighting is basic, all components appear to be in good working order with minimal wear and tear, requiring no immediate renovations.
Pros & Cons

Pros

Significant Expansion Potential: The property includes nearly an acre of vacant land with the potential to develop an additional 19 townhouse units, offering substantial future rental income growth.
Newer Construction & Modern Units: Built in 2010, the 11 townhouse-style units offer modern amenities, tasteful upgrades, private patios, and in-unit washers/dryers, appealing to high-quality tenants.
Strong Investment Opportunity & Income: Currently yielding $228,200 in annual gross income with room for growth, providing immediate returns and excellent potential for portfolio expansion.
Desirable Unit Configuration: Each unit features spacious 3-bedroom, 2-bath layouts, a rare and highly sought-after configuration in newer construction, catering to strong rental demand.
Turnkey & High Tenant Appeal: Described as a turnkey property offering a high-quality, condo-style living experience, which helps attract and retain tenants, potentially reducing vacancy rates.

Cons

MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =66646, other record lot size in square feet = 63162.
Substantial Capital for Expansion: While offering significant development potential, realizing the additional 19 units will require substantial further capital investment beyond the initial purchase price.
High Initial Investment: The total purchase price of $2,750,000 represents a significant capital outlay, which may limit the pool of potential investors.
Split Asset Valuation Complexity: The asset is comprised of an existing complex and vacant land with separate valuations, which could complicate financing or immediate return on investment calculations for the entire purchase.
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