Investment Opportunity: Commercial & Residential Units in Delano, CA

Located east of CA-99, south of Main Street, & west of High Street in Delano, CA. Property benefits directly from the CA 99 Highway, with traffic passing in front of this property. Easy north/south Hwy 99 access & will benefit from this large, expanding commercial/residential market. Delano is a city in Kern County, California, United States. Delano is located about 30 miles north-northwest of Bakersfield, 31 miles south of Tulare, & 72 miles east of Lake Isabella. Delano is home to two California state prisons, North Kern State Prison and Kern Valley State Prison, which contribute a significant number of employers to the area.Leased freestanding buildings totaling ±11,054 SF consisting of commercial & residential buildings. Property offers (1) commercial unit & (8) residential units leased to long term tenants. Value Add opportunity of 36% occupancy with actual rents of $61,500.00/year collected plus upside potential. This site features great visibility, convenient parking, & easy access to nearby CA-99 on/off ramps. Multiple configurations ranging from 300 SF up to 2,425 SF. Variations of leased spaces include warehouse, storage, RV rentals, & residential units. The value-add opportunity consists of addressing the under market rent of the (22) tenants, extending lease length over the next 6-12 months. Value-add opportunity with actual rents of $61,500.00/year collected plus upside potential. After addressing the slightly under-market rents, the realistic stabilized gross annual income is $172,200.00. Unique investment offering easy to-rent small spaces within an under-built market offering a strong need for these type of units. Once stabilized, the deal offers a 11.61% CAP rate.