Cal Twin Towers

Cal Twin Towers

4900 California Ave, Bakersfield, CA 93309, USA
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4900 California Ave, Bakersfield, CA 93309, USA

4900 California Ave, Bakersfield, CA 93309, USA

Jeff Andrew

Jeff Andrew

Listed By

jeff.andrew@paccra.com

6616333827

License No. 00941323

Contact Listing Broker





Price: $27,700,000

Cap Rate 7.72 %

NOI $ 2137637

Cash-on-Cash 10.04 %

Development Type Office

Building Size 151,829 sqft

Lot Area 8.00 acre

Occupancy 92.3 %

Class A

Year Built 1984

Price Per SF 182$

Zoning Commercial

Parking Spots 645

Parking Ratio 4.25/1,000

Number of Elevators 4

Floor 4

Investment Strategy Core

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The Cal Twin Towers is a ±151,829 rentable square feet Bakersfield Landmark Class A Office Building. Originally built in 1984 for Continental Telephone as part of the historic Tenneco Land redevelopment expanding the west portion of Bakersfield which has become the main financial corridor commonly referred to as the “California Corridor.” Cal Twin Towers is a Class A office building offering convenient access to retail shopping, restaurants, hotels, financial services, as well as easy access to all of Bakersfield since its located close to Highway 99, Highway 58, the Westside Parkway, and the Centennial Corridor Freeway (Under Construction). Cal Twin Towers also provides Tenants panoramic views of southwest Bakersfield as well as having on-site Property Management & engineering services. The property also has free surface parking and extensive covered parking. As one of the most energy efficient office buildings in Bakersfield, Cal Twin Towers is fully retrofitted with LED lighting and digital HVAC controls. In addition, a carport mounted solar PV system (separately owned) provides electricity cost savings.

PROPERTY HIGHLIGHTS

  • 16.58% 10 Year Leveraged Internal Rate of Return

4900 California Ave, Bakersfield, CA 93309, USA