🏷️ Likely Rental
2700 White Ln · Bakersfield, CA
Flood risk No data
- FEMA flood zone
- —
- Chance of flooding over 30 yrs
- —
- Est. flood insurance / yr
- —
Fire risk No data
- Est. fire insurance / yr
- —
Heat risk No data
- Hot days now (above threshold)
- —
- Hot days in 30 yrs
- —
Wind risk No data
- Chance of severe wind over 30 yrs
- —
Air-quality risk No data
- Unhealthy air days now
- —
- Unhealthy air days in 30 yrs
- —
Risk factors via First Street. Map © Google.
Why this score? — see what drove the B+ grade
The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).
- Cash flow +30.0/30.0
- ARV discount +15.0/15.0
- 1% rule +10.0/10.0
- DSCR +10.0/10.0
- Schools +3.4/10.0
- Livability +2.9/5.0
- Condition / age +2.8/5.0
- Rent growth +2.1/5.0
- Appreciation +0.0/10.0
$8,400,000
🖨 Deal sheet 📄 Offer letter ✓ Due diligence
Multi-family units
County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 149 units. confirmed
5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.
Listing remarks MLS
We are pleased to present 2700 White Lane, a 149-unit studio apartment community situated at the Highway 99 interchange in Southwest Bakersfield's Wible Orchard neighborhood. Originally constructed in 1965 as a Howard Johnson hotel, the property has been converted to multifamily use under Conditional Use Permit 23-0642, approved by the Bakersfield Planning Commission on February 29, 2024. The asset is being offered as a court-supervised sale through a receivership, presenting a compelling heavy value-add opportunity with a defined scope of remaining work, strong rental comparables, and deep Section 8 demand. The two-story, L-shaped property encompasses approximately 61,500 square feet of building area across 149 studio units averaging approximately 400 square feet each, with kitchenettes in a hotel-conversion format and exterior corridors. The site features a kidney-shaped swimming pool and a large surface parking lot. The property benefits from exceptional freeway visibility, with Highway 99 carrying more than 170,000 vehicles per day, and direct access from White Lane, one of Southwest Bakersfield's primary east-west arterials. Valley Plaza Mall is approximately two miles east and Downtown Bakersfield approximately five miles northeast. The property currently operates at 65.1% occupancy, with 97 units leased and 52 vacant (including 4 on notice and 2 in eviction). Approximately 40% of occupied units (~39 units) are leased to Section 8 voucher holders, and the Bakersfield Housing Authority has approved contract rents at this address ranging from $975 to $1,095 per month. This voucher concentration represents a strategic asset: Section 8 demand in the Southwest Bakersfield submarket is strong, providing a reliable tenant pipeline once the property achieves full CUP compliance and professional stabilization. Market rent support is anchored by Ming Tree Apartments at 5601 Ming Avenue, which achieves $1,075 per month for studios 2.5 miles from the subject on a comparable commercial corridor. This figure represents current achievable market rent, not a projection. Same-ZIP-code comparables in the 93304 area average $1,057 per month unadjusted, while the broader Southwest Bakersfield studio market (93309) averages $1,046 per month adjusted. A stabilized rent assumption of $1,075 per month is conservative relative to these benchmarks and falls $20 below the maximum Section 8-approved contract rent at the property. The single most significant risk mitigant in this transaction is that the remaining scope of work is defined and permitted. Fire sprinklers and alarm systems have been completed in accordance with the CUP, representing substantial life-safety capital already invested. The remaining CUP compliance items include five 8-by-20-foot masonry trash enclosures, six ADA parking stalls and path of travel, Los Carneros and White Lane sidewalk replacement, drive approaches and management signage, parking lot slurry seal and restripe, streetlight installation, landscaping, and perimeter security fence and gates. These items are specified in both the CUP punch list and a Patterson & Sons Construction estimate totaling approximately $745,000 for base construction (plans and permits excluded). Including permits, engineering, security fence, and contingency, buyers should underwrite $1.0M to $1.3M in total construction and soft costs. CUP-mandated impact fees, including a Park Development Fee of $312,155 plus Transportation Impact and Sewer Connection fees, are separate and typically addressed at closing through buyer responsibility, seller credit, or negotiated split.
Key facts
- Ada parking stalls
- 2.72 acre lot
- 150 parking spots
Tags
Neighborhood map
What this means for you Summary
Snapshot
- This is a 149 × 1-bed/1-bath units multifamily listed at $8.40M. Condition is rated average.
Deal economics
- At list price, monthly cash flow is $66k ($797k/yr) — positive. Per door: $446/mo.
- The deal already cash-flows at list — no discount required.
- Meets the 1% rule at list price ($158k rent vs $8.40M).
- Recommended offer: $7.64M (9.0% below list) — sets the bar for market timing.
- Cap rate 15.8% vs local median 3.6% in Bakersfield — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.
Location & tenants
- Location reads 58/100 on livability (#716 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: health & safety D, schools D-, crime F.
- Kern High (urban): math 21% / reading 51% proficiency, ranked #860 of 1,400 in CA (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
- Market conditions: Rents soft (-1.7%/yr); 159 active listings in the ZIP; 3,244 units permitted in Kern County in 2024 (73 in 5+ unit buildings).
- At $157,551/mo this rent would consume 3722% of the median local household income ($51k/yr) (locally 2587% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.
Forward outlook
- Local home prices are declining (-3.0%/yr); year-one equity from $58k of loan paydown is wiped out by about $252k of value loss. Plan a longer hold.
- Kern County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
- At projected returns (-3.0% appreciation + 0.0% rent growth), your $2.35M cash investment doubles in ~4 years — after that, you're playing with house money.
Negotiation context
- It's been on market 118 days — a 9% lower offer ($7.64M) is reasonable based on typical stale-listing flexibility.
- 3 sale attempts; this cycle's ask is 884111% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
Questions for the listing agent
- It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
- Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
- What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
- Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
- Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
- Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
- Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
- Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
- What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
- What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
- How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.
Investment metrics
- 1% rule
- 1.88% ✓
- Cap rate
- 15.78%
- Cash-on-cash
- 33.89%
- DSCR
- 2.51
- GRM
- 4.4
CMA / ARV
- ARV (median comp)
- $13,000,447
- List price
- $8,400,000
- Delta
- -35.39%
- Verdict
- UNDERPRICED
- Comps
- 2 within 2.0 mi
Show comp detail 1 sale within ~0.75 mi
| Address | Dist | Beds/Ba | Sqft | Sold | Price | $/sf | Match |
|---|---|---|---|---|---|---|---|
| 4215 Teal | 0.33mi | —/87.0 | 56,000 (-6%) | 11mo | $7,250,000 | $129 | 45 |
Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.
Projected returns pro-forma
-3.0% appreciation · 0.0% rent growth · sell at horizon
- IRR
- 25.8%
- Equity multiple
- 2.02×
- Total profit
- $2,409,489
- Equity at exit
- $1,252,467
- IRR
- 31.6%
- Equity multiple
- 3.45×
- Total profit
- $5,770,222
- Equity at exit
- $726,278
Cash invested: $2,352,000 (down + closing). Projections, not guarantees.
Landlord ↔ Tenant lean methodology
- Overall (STATE)
- 18 Strongly Tenant-Friendly
- State California
- 18 Strongly Tenant-Friendly · D+13
- County
- — inherits STATE
- City
- — inherits STATE
ZIP-level market 93304
- Rents YoY
- -1.7%
- Active inventory
- 159
- Price-to-rent
- 662.0×
Monthly cashflow live
- Estimated rent
- $157,551 medium interval (Pro) →
- Mortgage (P&I)
- −$44,051
- Tax est. 1.5%
- −$10,500 /mo · $126,000/yr
- Insurance
- −$3,500
- HOA
- −$0
- Vacancy / Maint / Mgmt
- −$33,086
- Net cashflow
- $66,415
Break-even live
149-unit breakdown (identical units grouped — click to expand)
| Units | Beds | Baths | Est. rent |
|---|---|---|---|
| 149× units | 1 | 1 | $157,493 |
| #1 | 1 | 1 | $1,057 |
| #2 | 1 | 1 | $1,057 |
| #3 | 1 | 1 | $1,057 |
| #4 | 1 | 1 | $1,057 |
| #5 | 1 | 1 | $1,057 |
| #6 | 1 | 1 | $1,057 |
| #7 | 1 | 1 | $1,057 |
| #8 | 1 | 1 | $1,057 |
| #9 | 1 | 1 | $1,057 |
| #10 | 1 | 1 | $1,057 |
| #11 | 1 | 1 | $1,057 |
| #12 | 1 | 1 | $1,057 |
| #13 | 1 | 1 | $1,057 |
| #14 | 1 | 1 | $1,057 |
| #15 | 1 | 1 | $1,057 |
| #16 | 1 | 1 | $1,057 |
| #17 | 1 | 1 | $1,057 |
| #18 | 1 | 1 | $1,057 |
| #19 | 1 | 1 | $1,057 |
| #20 | 1 | 1 | $1,057 |
| #21 | 1 | 1 | $1,057 |
| #22 | 1 | 1 | $1,057 |
| #23 | 1 | 1 | $1,057 |
| #24 | 1 | 1 | $1,057 |
| #25 | 1 | 1 | $1,057 |
| #26 | 1 | 1 | $1,057 |
| #27 | 1 | 1 | $1,057 |
| #28 | 1 | 1 | $1,057 |
| #29 | 1 | 1 | $1,057 |
| #30 | 1 | 1 | $1,057 |
| #31 | 1 | 1 | $1,057 |
| #32 | 1 | 1 | $1,057 |
| #33 | 1 | 1 | $1,057 |
| #34 | 1 | 1 | $1,057 |
| #35 | 1 | 1 | $1,057 |
| #36 | 1 | 1 | $1,057 |
| #37 | 1 | 1 | $1,057 |
| #38 | 1 | 1 | $1,057 |
| #39 | 1 | 1 | $1,057 |
| #40 | 1 | 1 | $1,057 |
| #41 | 1 | 1 | $1,057 |
| #42 | 1 | 1 | $1,057 |
| #43 | 1 | 1 | $1,057 |
| #44 | 1 | 1 | $1,057 |
| #45 | 1 | 1 | $1,057 |
| #46 | 1 | 1 | $1,057 |
| #47 | 1 | 1 | $1,057 |
| #48 | 1 | 1 | $1,057 |
| #49 | 1 | 1 | $1,057 |
| #50 | 1 | 1 | $1,057 |
| #51 | 1 | 1 | $1,057 |
| #52 | 1 | 1 | $1,057 |
| #53 | 1 | 1 | $1,057 |
| #54 | 1 | 1 | $1,057 |
| #55 | 1 | 1 | $1,057 |
| #56 | 1 | 1 | $1,057 |
| #57 | 1 | 1 | $1,057 |
| #58 | 1 | 1 | $1,057 |
| #59 | 1 | 1 | $1,057 |
| #60 | 1 | 1 | $1,057 |
| #61 | 1 | 1 | $1,057 |
| #62 | 1 | 1 | $1,057 |
| #63 | 1 | 1 | $1,057 |
| #64 | 1 | 1 | $1,057 |
| #65 | 1 | 1 | $1,057 |
| #66 | 1 | 1 | $1,057 |
| #67 | 1 | 1 | $1,057 |
| #68 | 1 | 1 | $1,057 |
| #69 | 1 | 1 | $1,057 |
| #70 | 1 | 1 | $1,057 |
| #71 | 1 | 1 | $1,057 |
| #72 | 1 | 1 | $1,057 |
| #73 | 1 | 1 | $1,057 |
| #74 | 1 | 1 | $1,057 |
| #75 | 1 | 1 | $1,057 |
| #76 | 1 | 1 | $1,057 |
| #77 | 1 | 1 | $1,057 |
| #78 | 1 | 1 | $1,057 |
| #79 | 1 | 1 | $1,057 |
| #80 | 1 | 1 | $1,057 |
| #81 | 1 | 1 | $1,057 |
| #82 | 1 | 1 | $1,057 |
| #83 | 1 | 1 | $1,057 |
| #84 | 1 | 1 | $1,057 |
| #85 | 1 | 1 | $1,057 |
| #86 | 1 | 1 | $1,057 |
| #87 | 1 | 1 | $1,057 |
| #88 | 1 | 1 | $1,057 |
| #89 | 1 | 1 | $1,057 |
| #90 | 1 | 1 | $1,057 |
| #91 | 1 | 1 | $1,057 |
| #92 | 1 | 1 | $1,057 |
| #93 | 1 | 1 | $1,057 |
| #94 | 1 | 1 | $1,057 |
| #95 | 1 | 1 | $1,057 |
| #96 | 1 | 1 | $1,057 |
| #97 | 1 | 1 | $1,057 |
| #98 | 1 | 1 | $1,057 |
| #99 | 1 | 1 | $1,057 |
| #100 | 1 | 1 | $1,057 |
| #101 | 1 | 1 | $1,057 |
| #102 | 1 | 1 | $1,057 |
| #103 | 1 | 1 | $1,057 |
| #104 | 1 | 1 | $1,057 |
| #105 | 1 | 1 | $1,057 |
| #106 | 1 | 1 | $1,057 |
| #107 | 1 | 1 | $1,057 |
| #108 | 1 | 1 | $1,057 |
| #109 | 1 | 1 | $1,057 |
| #110 | 1 | 1 | $1,057 |
| #111 | 1 | 1 | $1,057 |
| #112 | 1 | 1 | $1,057 |
| #113 | 1 | 1 | $1,057 |
| #114 | 1 | 1 | $1,057 |
| #115 | 1 | 1 | $1,057 |
| #116 | 1 | 1 | $1,057 |
| #117 | 1 | 1 | $1,057 |
| #118 | 1 | 1 | $1,057 |
| #119 | 1 | 1 | $1,057 |
| #120 | 1 | 1 | $1,057 |
| #121 | 1 | 1 | $1,057 |
| #122 | 1 | 1 | $1,057 |
| #123 | 1 | 1 | $1,057 |
| #124 | 1 | 1 | $1,057 |
| #125 | 1 | 1 | $1,057 |
| #126 | 1 | 1 | $1,057 |
| #127 | 1 | 1 | $1,057 |
| #128 | 1 | 1 | $1,057 |
| #129 | 1 | 1 | $1,057 |
| #130 | 1 | 1 | $1,057 |
| #131 | 1 | 1 | $1,057 |
| #132 | 1 | 1 | $1,057 |
| #133 | 1 | 1 | $1,057 |
| #134 | 1 | 1 | $1,057 |
| #135 | 1 | 1 | $1,057 |
| #136 | 1 | 1 | $1,057 |
| #137 | 1 | 1 | $1,057 |
| #138 | 1 | 1 | $1,057 |
| #139 | 1 | 1 | $1,057 |
| #140 | 1 | 1 | $1,057 |
| #141 | 1 | 1 | $1,057 |
| #142 | 1 | 1 | $1,057 |
| #143 | 1 | 1 | $1,057 |
| #144 | 1 | 1 | $1,057 |
| #145 | 1 | 1 | $1,057 |
| #146 | 1 | 1 | $1,057 |
| #147 | 1 | 1 | $1,057 |
| #148 | 1 | 1 | $1,057 |
| #149 | 1 | 1 | $1,057 |
| Total (149 units) | $157,551 | ||
UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt
Financing live
Cash to close
- Down payment
- $2,100,000
- Closing costs
- $252,000
- Reserves months
- —
- Total cash needed
- —
Loan-product check · same deal, 3 products live
Conventional
25% down · 7.5% · 30yr
- Down + closing
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
Personal DTI + credit; lowest rate.
DSCR
20% down · 8.5% · 30yr
- Down + closing
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
No personal income docs; deal must DSCR.
Hard money
10% down · 12.0% · 12mo
- Down + closing
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
Short-term bridge; refi at stabilization.
Listing history 23 events
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2026-06-18days on market $8,400,000 Active 118 DOM
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2026-06-17days on market $8,400,000 Active 117 DOM
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2026-06-16days on market $8,400,000 Active 116 DOM
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2026-06-15days on market $8,400,000 Active 115 DOM
-
2026-06-14days on market $8,400,000 Active 113 DOM
-
2026-06-13days on market $8,400,000 Active 112 DOM
-
2026-06-10days on market $8,400,000 Active 110 DOM
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2026-06-09days on market $8,400,000 Active 109 DOM
-
2026-06-08days on market $8,400,000 Active 108 DOM
-
2026-06-07days on market $8,400,000 Active 107 DOM
-
2026-06-05days on market $8,400,000 Active 104 DOM
-
2026-06-03days on market $8,400,000 Active 103 DOM
-
2026-06-03days on market $8,400,000 Active 102 DOM
-
2026-06-01days on market $8,400,000 Active 101 DOM
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2026-05-31days on market $8,400,000 Active 100 DOM
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2026-05-19price $8,400,000 3628-char remark
Show marketing remark (3628 chars)
We are pleased to present 2700 White Lane, a 149-unit studio apartment community situated at the Highway 99 interchange in Southwest Bakersfield's Wible Orchard neighborhood. Originally constructed in 1965 as a Howard Johnson hotel, the property has been converted to multifamily use under Conditional Use Permit 23-0642, approved by the Bakersfield Planning Commission on February 29, 2024. The asset is being offered as a court-supervised sale through a receivership, presenting a compelling heavy value-add opportunity with a defined scope of remaining work, strong rental comparables, and deep Section 8 demand. The two-story, L-shaped property encompasses approximately 61,500 square feet of building area across 149 studio units averaging approximately 400 square feet each, with kitchenettes in a hotel-conversion format and exterior corridors. The site features a kidney-shaped swimming pool and a large surface parking lot. The property benefits from exceptional freeway visibility, with Highway 99 carrying more than 170,000 vehicles per day, and direct access from White Lane, one of Southwest Bakersfield's primary east-west arterials. Valley Plaza Mall is approximately two miles east and Downtown Bakersfield approximately five miles northeast. The property currently operates at 65.1% occupancy, with 97 units leased and 52 vacant (including 4 on notice and 2 in eviction). Approximately 40% of occupied units (~39 units) are leased to Section 8 voucher holders, and the Bakersfield Housing Authority has approved contract rents at this address ranging from $975 to $1,095 per month. This voucher concentration represents a strategic asset: Section 8 demand in the Southwest Bakersfield submarket is strong, providing a reliable tenant pipeline once the property achieves full CUP compliance and professional stabilization. Market rent support is anchored by Ming Tree Apartments at 5601 Ming Avenue, which achieves $1,075 per month for studios 2.5 miles from the subject on a comparable commercial corridor. This figure represents current achievable market rent, not a projection. Same-ZIP-code comparables in the 93304 area average $1,057 per month unadjusted, while the broader Southwest Bakersfield studio market (93309) averages $1,046 per month adjusted. A stabilized rent assumption of $1,075 per month is conservative relative to these benchmarks and falls $20 below the maximum Section 8-approved contract rent at the property. The single most significant risk mitigant in this transaction is that the remaining scope of work is defined and permitted. Fire sprinklers and alarm systems have been completed in accordance with the CUP, representing substantial life-safety capital already invested. The remaining CUP compliance items include five 8-by-20-foot masonry trash enclosures, six ADA parking stalls and path of travel, Los Carneros and White Lane sidewalk replacement, drive approaches and management signage, parking lot slurry seal and restripe, streetlight installation, landscaping, and perimeter security fence and gates. These items are specified in both the CUP punch list and a Patterson & Sons Construction estimate totaling approximately $745,000 for base construction (plans and permits excluded). Including permits, engineering, security fence, and contingency, buyers should underwrite $1.0M to $1.3M in total construction and soft costs. CUP-mandated impact fees, including a Park Development Fee of $312,155 plus Transportation Impact and Sewer Connection fees, are separate and typically addressed at closing through buyer responsibility, seller credit, or negotiated split.
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2026-05-14price $935
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2026-05-06price $850
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2026-04-10price $8,950,000 3628-char remark
Show marketing remark (3628 chars)
We are pleased to present 2700 White Lane, a 149-unit studio apartment community situated at the Highway 99 interchange in Southwest Bakersfield's Wible Orchard neighborhood. Originally constructed in 1965 as a Howard Johnson hotel, the property has been converted to multifamily use under Conditional Use Permit 23-0642, approved by the Bakersfield Planning Commission on February 29, 2024. The asset is being offered as a court-supervised sale through a receivership, presenting a compelling heavy value-add opportunity with a defined scope of remaining work, strong rental comparables, and deep Section 8 demand. The two-story, L-shaped property encompasses approximately 61,500 square feet of building area across 149 studio units averaging approximately 400 square feet each, with kitchenettes in a hotel-conversion format and exterior corridors. The site features a kidney-shaped swimming pool and a large surface parking lot. The property benefits from exceptional freeway visibility, with Highway 99 carrying more than 170,000 vehicles per day, and direct access from White Lane, one of Southwest Bakersfield's primary east-west arterials. Valley Plaza Mall is approximately two miles east and Downtown Bakersfield approximately five miles northeast. The property currently operates at 65.1% occupancy, with 97 units leased and 52 vacant (including 4 on notice and 2 in eviction). Approximately 40% of occupied units (~39 units) are leased to Section 8 voucher holders, and the Bakersfield Housing Authority has approved contract rents at this address ranging from $975 to $1,095 per month. This voucher concentration represents a strategic asset: Section 8 demand in the Southwest Bakersfield submarket is strong, providing a reliable tenant pipeline once the property achieves full CUP compliance and professional stabilization. Market rent support is anchored by Ming Tree Apartments at 5601 Ming Avenue, which achieves $1,075 per month for studios 2.5 miles from the subject on a comparable commercial corridor. This figure represents current achievable market rent, not a projection. Same-ZIP-code comparables in the 93304 area average $1,057 per month unadjusted, while the broader Southwest Bakersfield studio market (93309) averages $1,046 per month adjusted. A stabilized rent assumption of $1,075 per month is conservative relative to these benchmarks and falls $20 below the maximum Section 8-approved contract rent at the property. The single most significant risk mitigant in this transaction is that the remaining scope of work is defined and permitted. Fire sprinklers and alarm systems have been completed in accordance with the CUP, representing substantial life-safety capital already invested. The remaining CUP compliance items include five 8-by-20-foot masonry trash enclosures, six ADA parking stalls and path of travel, Los Carneros and White Lane sidewalk replacement, drive approaches and management signage, parking lot slurry seal and restripe, streetlight installation, landscaping, and perimeter security fence and gates. These items are specified in both the CUP punch list and a Patterson & Sons Construction estimate totaling approximately $745,000 for base construction (plans and permits excluded). Including permits, engineering, security fence, and contingency, buyers should underwrite $1.0M to $1.3M in total construction and soft costs. CUP-mandated impact fees, including a Park Development Fee of $312,155 plus Transportation Impact and Sewer Connection fees, are separate and typically addressed at closing through buyer responsibility, seller credit, or negotiated split.
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2026-02-09$950
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2026-02-04$9,950,000 Active 3628-char remark
Show marketing remark (3628 chars)
We are pleased to present 2700 White Lane, a 149-unit studio apartment community situated at the Highway 99 interchange in Southwest Bakersfield's Wible Orchard neighborhood. Originally constructed in 1965 as a Howard Johnson hotel, the property has been converted to multifamily use under Conditional Use Permit 23-0642, approved by the Bakersfield Planning Commission on February 29, 2024. The asset is being offered as a court-supervised sale through a receivership, presenting a compelling heavy value-add opportunity with a defined scope of remaining work, strong rental comparables, and deep Section 8 demand. The two-story, L-shaped property encompasses approximately 61,500 square feet of building area across 149 studio units averaging approximately 400 square feet each, with kitchenettes in a hotel-conversion format and exterior corridors. The site features a kidney-shaped swimming pool and a large surface parking lot. The property benefits from exceptional freeway visibility, with Highway 99 carrying more than 170,000 vehicles per day, and direct access from White Lane, one of Southwest Bakersfield's primary east-west arterials. Valley Plaza Mall is approximately two miles east and Downtown Bakersfield approximately five miles northeast. The property currently operates at 65.1% occupancy, with 97 units leased and 52 vacant (including 4 on notice and 2 in eviction). Approximately 40% of occupied units (~39 units) are leased to Section 8 voucher holders, and the Bakersfield Housing Authority has approved contract rents at this address ranging from $975 to $1,095 per month. This voucher concentration represents a strategic asset: Section 8 demand in the Southwest Bakersfield submarket is strong, providing a reliable tenant pipeline once the property achieves full CUP compliance and professional stabilization. Market rent support is anchored by Ming Tree Apartments at 5601 Ming Avenue, which achieves $1,075 per month for studios 2.5 miles from the subject on a comparable commercial corridor. This figure represents current achievable market rent, not a projection. Same-ZIP-code comparables in the 93304 area average $1,057 per month unadjusted, while the broader Southwest Bakersfield studio market (93309) averages $1,046 per month adjusted. A stabilized rent assumption of $1,075 per month is conservative relative to these benchmarks and falls $20 below the maximum Section 8-approved contract rent at the property. The single most significant risk mitigant in this transaction is that the remaining scope of work is defined and permitted. Fire sprinklers and alarm systems have been completed in accordance with the CUP, representing substantial life-safety capital already invested. The remaining CUP compliance items include five 8-by-20-foot masonry trash enclosures, six ADA parking stalls and path of travel, Los Carneros and White Lane sidewalk replacement, drive approaches and management signage, parking lot slurry seal and restripe, streetlight installation, landscaping, and perimeter security fence and gates. These items are specified in both the CUP punch list and a Patterson & Sons Construction estimate totaling approximately $745,000 for base construction (plans and permits excluded). Including permits, engineering, security fence, and contingency, buyers should underwrite $1.0M to $1.3M in total construction and soft costs. CUP-mandated impact fees, including a Park Development Fee of $312,155 plus Transportation Impact and Sewer Connection fees, are separate and typically addressed at closing through buyer responsibility, seller credit, or negotiated split.
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2025-10-16historical $895
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2025-10-07$895
ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot
backfill from property_details.listing_events for pre-trigger history.
Nearby sold comps map
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Walkable amenities ~0.75 mi
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Taxation est. · year 1
- Rental income
- $1,890,612
- − Mortgage interest
- −$470,531
- − Property taxes
- −$126,000
- − Insurance
- −$42,000
- − Repairs & maintenance
- −$151,249
- − Management
- −$151,249
- − Depreciation
- −$244,364
- Taxable income
- $705,220
- Est. tax owed @ 24.0%
- −$169,253
- After-tax cash flow
- $627,725/yr
For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.
Condition & rehab AI · 12 photos
This 149-unit multi-family property requires moderate rehabilitation to improve its condition and increase its resale and rental value.
Repairs flagged
- Major exterior paint — The exterior paint appears to be peeling and in need of repainting.
- Major roof — The roof appears to be in need of repair or replacement.
- Major flooring — The flooring appears to be in need of replacement or repair.
- Major interior walls/paint — The interior walls and paint appear to be in need of repainting.
- Major systems — The systems appear to be in need of repair or replacement.
- Major landscaping — The landscaping appears to be in need of maintenance and improvement.
Value-add opportunities
- Both exterior paint — Fresh paint can improve the curb appeal and overall appearance of the property.
- Both roof repair/replacement — A new roof can improve the property's value and reduce maintenance costs.
- Both flooring replacement — New flooring can improve the property's appearance and increase its rental value.
- Both interior wall/paint repainting — Fresh paint can improve the property's appearance and increase its rental value.
- Both system repair/replacement — Repairing or replacing systems can improve the property's functionality and increase its rental value.
- Both landscaping maintenance/improvement — Maintaining and improving the landscaping can improve the property's curb appeal and increase its rental value.
Renovation cost estimate screening
| Repair item | Severity | Est. cost |
|---|---|---|
| exterior paint · The exterior paint appears to be peeling and in need of repainting. | Major | $15,000–50,000 |
| roof · The roof appears to be in need of repair or replacement. | Major | $15,000–50,000 |
| flooring · The flooring appears to be in need of replacement or repair. | Major | $15,000–50,000 |
| interior walls/paint · The interior walls and paint appear to be in need of repainting. | Major | $15,000–50,000 |
| systems · The systems appear to be in need of repair or replacement. | Major | $15,000–50,000 |
| landscaping · The landscaping appears to be in need of maintenance and improvement. | Major | $15,000–50,000 |
| Total estimated repair cost · 6 items | $90,000–300,000 |
Value-add ROI direction
- Both exterior paint — Fresh paint can improve the curb appeal and overall appearance of the property. ↑
- Both roof repair/replacement — A new roof can improve the property's value and reduce maintenance costs. ↑
- Both flooring replacement — New flooring can improve the property's appearance and increase its rental value. ↑
- Both interior wall/paint repainting — Fresh paint can improve the property's appearance and increase its rental value. ↑
- Both system repair/replacement — Repairing or replacing systems can improve the property's functionality and increase its rental value. ↑
- Both landscaping maintenance/improvement — Maintaining and improving the landscaping can improve the property's curb appeal and increase its rental value. ↑
ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.
Schools (NCES district)
- District
- Kern High
- NCES district ID
- 0619540
- Math proficiency
- 21% ▬ 0.00%
- Reading proficiency
- 51% ▲ 2.00%
- Median HH income
- $49,686
- Composite
- 33.68/100
- National rank
- #10443
- State rank
- #860 of 1400 in CA
Livability — Bakersfield
- Score
- 58/100
- State rank
- #716
- US rank
- #21355
Category grades
Schools grade is shown separately in the Schools card above.
Census & demographics
- Census place
- Bakersfield, CA
- County
- Kern County · 710,371 people
- City population
- 499,124
- Metro
- Bakersfield, CA
- Population (ZIP)
- 51,037
- Household income
- $50,790
- Rent vs Own
- Severe rent burden
- 2587.0
Population outlook (Kern County) Hauer SSP2
- Today (2025)
- 947,286 people
- By 2030
- 978,984 · +3.3%
- By 2040
- 1,045,018 · +10.3%
- By 2050
- 1,105,232 · +16.7%
- By 2075
- 1,229,538 · +29.8%
- By 2100
- 1,238,059 · +30.7%
Race, ethnicity, and origin ACS 2023
- Neighborhood character
- Predominantly Hispanic (71%)
- Race & ethnicity
- Hispanic / Latino 71% Two or more races 18% White 14% Black 9% Asian 3% Native American 2%
- Hispanic origin (detail)
- Mexican 65%
- Foreign-born
- 22% · Canada, China
- Languages at home
- 48% English-only · Spanish 49% Other Asian/Pacific 1% Tagalog/Filipino 1%
Political lean MEDSL · Kern
- 2024 margin
- Strong R (+21.1) · D 38.2% · R 59.3% · Other 2.5%
- 2008→2024 swing
- -3.3pp toward R · 2008: -17.8pp · 2024: -21.1pp
- All cycles
- 2024: R+21.1 2020: R+10.2 2016: R+15.0 2012: R+20.9 2008: R+17.8
Not yet ingested
- Civics
- —
Market trends
- HPI YoY
- ▼ -314.78%
- Current HPI
- 397.9557
- Rent YoY
- ▼ -1.68%
- Metro
- Bakersfield, CA
- State GDP YoY
- ▲ 3.21%
- F500 in state
- 116
Industry mix (Fortune 500 HQ in CA)
| Industry | F500 HQs | Revenue |
|---|---|---|
| Technology | 27 | $1,492B |
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| Financial Services | 3 | $174B |
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| Retail | 3 | $44B |
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| Insurance | 3 | $26B |
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| Media / Entertainment | 2 | $115B |
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| Pharmaceuticals / Biotech | 2 | $62B |
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Price history
-15.6% since first listed8 events — show timeline
- 2026-05-19 Price Changed $8,400,000 TheMLS
- 2026-05-14 Price Changed $935 SHOWMOJO
- 2026-05-06 Price Changed $850 SHOWMOJO
- 2026-04-10 Price Changed $8,950,000 TheMLS
- 2026-02-09 Listed for Rent $950 SHOWMOJO
- 2026-02-04 Listed $9,950,000 TheMLS
- 2025-10-16 Rental Removed $895 SHOWMOJO
- 2025-10-07 Listed for Rent $895 SHOWMOJO
Cash-flow waterfall
monthlySold comps — $/sqft
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