The Grove
4801 Fruitvale Avenue
Bakersfield,
CA 93308
142 Units
Property Summary
| Price | Call for Details |
| Units | 142 |
| Year Built | 1994 |
| Parking Ratio | 2.25 |
Investment Highlights
- Expiring Affordable Covenants with Upside Potential Exceeding $1,000/Unit
- High Quality Asset Built in 1994 with Attached One & Two-Car Garages & In-Unit Washer/Dryer
- Significant Upside Opportunity with Welfare Tax Exemption
- Elevated Living with Luxury Amenities
- Highly Desirable Northwest Bakersfield Location
- Commutable to Over 646,000 Jobs
- Compliant with Senate Bill 721 Building Standards
Property Description
The Mogharebi Group is pleased to present the opportunity to acquire The Grove, a 142-unit, multifamily community located at 4801 Fruitvale Avenue in Bakersfield, California. Built in 1994, this well-maintained, two-story property spans 11 acres and features 23 buildings. Approximately 20% of units are rent restricted, potentially offering ad valorem tax savings.
The Grove offers a diverse unit mix— one-, two-, and three bedroom floorplans—with an average unit size exceeding 1,100 square feet. Each unit includes a full-sized washer/dryer, a fully equipped kitchen, ceiling fans, and remote access to an attached garage.
The property’s prime location provides convenient access to shopping, dining, and entertainment, ensuring a strong tenant demand and an enhanced living experience that promotes satisfaction and retention.
4801 Fruitvale Avenue
Bakersfield, CA 93308
Bakersfield, CA 93308
Situated in California’s Southern Central Valley, Bakersfield is the largest city in Kern County and is known for its agriculture, oil production, and vibrant music history, particularly country music. Bakersfield is positioned 110 miles north of Los Angeles and 110 miles south of Fresno; this makes it well-positioned to take advantage of the employment, entertainment, and educational centers throughout the region. Bakersfield’s easy access to regional amenities is aided further by a robust matrix of state highways and rail networks, most notably Interstate 5. Bakersfield is located in the Bakersfield Metropolitan Statistical Area (MSA), regularly recognized for its economic contributions to California’s agricultural sector and affordable cost of living.
Listing Advisors
Otto Ozen
Mark Bonas