$4,250,000
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Great opportunity to acquire a 14-acre parcel of land in Bakersfield, California. This remarkable property comes with plans for a 121-unit apartment development project, occupying a seven-acre portion of the lot. The remaining seven acres are unimproved and present a blank canvas for future development. The R2 zoning in the City of Bakersfield allows for the construction of one unit per every 2,500 square feet of land by right. This means that based on the given area, a maximum of 243 units can be built on the site. Additionally, with the inclusion of the statewide density bonus of additional 50% more units, the total number of units that can be constructed on the site increases to 364 units (Buyer to verify). This makes the property even more appealing with the price per 364 buildable units at an incredible $15,064 each unit.
Based on information from California Regional Multiple Listing Service, Inc. as of May 4th, 2024 at 8:40pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.