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MODERN 3 BED 2.5 BATH FLOOR PLANS

Elevate your lifestyle at Mulberry Village, your modern residential escape in South East Bakersfield. Delivering thoughtfully designed living spaces, our upscale, multi-family rental homes come with highly sought after features, including 3 bedrooms, 2.5 bathrooms, full kitchen, exquisite curb appeal, and beautifully appointed interiors. All fourplexes come complete with sleek appliances, luxury cabinetry and kitchen islands. Mulberry Village also offers on-site management, a children's playground, a pet-friendly environment, lush landscaping, walking trails, a community clubhouse, maintenance-free living, and is located near great schools.

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QUICK SUMMARY

  • Phase 1 | 31 Lots | 124 Units

  • Phase 2 | 52 Lots | 208 Total Units

  • Federal Opportunity

  • Buy & Hold

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First Floor

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UNIT A

UNIT B

UNIT C

UNIT D

Second Floor

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UNIT A

UNIT B

UNIT C

UNIT D

Providence Floor Plan

UNIT A & D SPECS:
Living Space: 1,255 SF.
Bedrooms: 3
Bathrooms: 2.5

UNIT B & C SPECS:
Living Space: 1,100 SF.
Bedrooms: 2
Bathrooms: 2.5

DEVELOPMENT PHASES

Phases

WHY KERN COUNTY?

Why So Many People & Businesses Are Moving to Kern County?

  • Largest Economy in San Joaquin Valley

  • Pro Business

  • Lower Cost of Living

  • More Sun (300 Days)

  • Less Government Intervention

  • Logistics Hub

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PROJECTED RENTS

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RENT COMPS MAP

  1. Golden Valley Luxury Apartments

  2. Tyner Ranch Townhomes

  3. Villa Sienna Apartment Homes

  4. Valley Springs

  5. Park Sorrento

  6. Boardwalk Luxury Apartments

  7. 918@ East Chester

  8. Belcourt Apartment Homes

  9. Mulberry Village

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RENT COMPARABLES

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SOURCE: APARTMENTS.COM, ZILLOW RENTALS, CREXI, LOOPNET

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PHASE 1 PRICING

Asking Price: $995,000.00*
Gross Scheduled Income (GSI): $90,000
Vacancy Rate: $1,800 (2%)
Effective Gross Income (EGI): $88,200 (100%)
Gross Operating Income (GOI): $88,200

Operating Expenses Taxes: $11,442.50 (12.97%) Insurance: $2,500 (2.83%)
Trash: $1,330 (1.51%)
Sewer: $716 (0.81%)
Water: $600 (0.57%)
Electric: $100
Gas: $0
Property Management Fee: $3,528.00 (4%)
HOA: $6,600 (7.48%)

Total Operating Expenses: $26,117 (30%) Net Operating Income (NOI): $62,084 (70%)
Gross Rent Multiplier (GRM): 11.06%
Cap Rate: 6.23%

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DETAILS

SALE COMPS MAP

  1. Tyner Ranch

  2. The Vineyard Apartments

  3. Kingsburg Villas Apartments

  4. Jeremy Willer Construction

  5. Mulberry Village

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SALE COMPARABLES

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SOURCE: APARTMENTS.COM, ZILLOW RENTALS, CREXI, LOOPNET

SALES COMP (CHART)

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3605 Coffee Rd Ste 200

Bakersfield, CA 93308

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©The Mora Partners, Inc.| Real Estate 2024

All Rights Reserved

CA DRE# 02227690

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