Old River Place

9800 Sherborne Avenue Bakersfield, CA 93311 249 Units
Old River Place

Investment Highlights

  • Single-Family Residential Layout
  • 249 Units on 72 Individual Duplex, Triplex, and Quadplex Lots
  • Near Full Occupied With Rental Upside
  • Attractive Mix of Large Two & Three-Bedroom
  • Spacious Floorplans & High Demand Unit Amenities
  • Desirable Far Southwest Bakersfield Location

Property Description

The Mogharebi Group is pleased to present the opportunity to acquire Old River Place, a unique 249-unit multifamily community located within the desirable Far Southwest submarket of Bakersfield, California. Built in 2006-2011, these apartment homes have a single-family residential neighborhood layout. Old River Place is comprised of individual one-story duplex buildings providing the advantages and renter appeal of SFR-style living while operating as a rental property. With a well-balanced mix of highly desirable two and three-bedroom floorplans, the units offer high-demand amenities including attached two-car garages and washer / dryer hookups. In addition, Old River Place presents an investor with the opportunity to realize immediate upside in rents and the property’s 72 individual parcels provide an additional exit strategy of individual sales to maximize return.

9800 Sherborne Avenue
Bakersfield, CA 93311
With strategic location near the southern end of the San Joaquin Valley, Bakersfield is situated in the heart of California within a few hours’ drive to both the Los Angeles and San Francisco metro areas. The city blends a strong and diversified local economy with a low cost of living relative to other cities in California, drawing both residents seeking affordability as well as numerous businesses from surrounding major metros, which contributes to the growing demand for quality housing in the area.

Listing Advisors

Mark Bonas

Senior Vice President

(661) 369-7100
Mark.Bonas@Mogharebi.com

CA Lic. #00829060