2700 White Lane, Bakersfield, CA 93304
Local realty services provided by:CENTURY 21 Jordan-Link
2700 White Lane,Bakersfield, CA 93304
$8,950,000
- 149 Beds
- 149 Baths
- 59,600 sq. ft.
- Multi-family
- Active
Listed by: filip niculete, glen scher
Office: marcus & millichap818-212-2700
MLS#:26654845
Source:CRMLS
Price summary
- Price:$8,950,000
- Price per sq. ft.:$150.17
About this home
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....
Contact an agent
Home facts
- Year built:1965
- Listing ID #:26654845
- Added:61 day(s) ago
- Updated:April 23, 2026 at 10:32 AM
Rooms and interior
- Bedrooms:149
- Total bathrooms:149
- Living area:59,600 sq. ft.
Structure and exterior
- Year built:1965
- Building area:59,600 sq. ft.
- Lot area:2.72 Acres
- Levels:2 Story
Finances and disclosures
- Price:$8,950,000
- Price per sq. ft.:$150.17
Parking
- Total parking spaces:150
- Parking description:Uncovered
New listings near 2700 White Lane
- New
$615,000Active5 beds 4 baths2,496 sq. ft.12106 FAIRBURN WAY, Bakersfield, CA 93312
MLS# 202604393Listed by: KELLER WILLIAMS REALTY - New
$325,000Active3 beds 2 baths1,185 sq. ft.1201 EL TORO DRIVE, Bakersfield, CA 93304
MLS# 202604395Listed by: CENTURY 21 JORDAN-LINK - New
$415,000Active4 beds 3 baths1,862 sq. ft.3504 SANDPEBBLE WAY, Bakersfield, CA 93313
MLS# 202604345Listed by: MERCADO AND ASSOCIATES REAL ESTATE INC. - New
$219,000Active3 beds 2 baths1,280 sq. ft.1218 WOODROW AVENUE, Bakersfield, CA 93308
MLS# 202604389Listed by: REAL BROKER - New
$329,000Active3 beds 3 baths1,267 sq. ft.2608 HALLISEY STREET, Bakersfield, CA 93309
MLS# 202604390Listed by: BROKER X - Open Sat, 12am to 3pmNew
$365,000Active3 beds 3 baths1,782 sq. ft.3517 MCCOURRY STREET, Bakersfield, CA 93304
MLS# 202604391Listed by: WATSON REALTY - New
$449,990Active3 beds 3 baths2,386 sq. ft.906 Devonshire, Bakersfield, CA 93312
MLS# CV26087487Listed by: ROA CALIFORNIA INC - New
$459,000Active4 beds 3 baths2,119 sq. ft.11319 MERCATELLO AVENUE, Bakersfield, CA 93312
MLS# 202604261Listed by: THE DAVIS GROUP REAL ESTATE - New
$410,000Active4 beds 4 baths1,927 sq. ft.1820 DELACORTE DRIVE, Bakersfield, CA 93311
MLS# 202604369Listed by: NEW HOUSE REAL ESTATE, INC. - Open Sat, 1 to 4pmNew
$480,000Active4 beds 3 baths1,901 sq. ft.6744 VIA DEL MAR, Bakersfield, CA 93307
MLS# 202604374Listed by: UPMARKET REAL ESTATE, INC.
Protect your home and budget from life's surprises with an Assurant Home Warranty, backed by a partner that supports you through every step of homeownership. Explore Plans.
©2026 Century 21 Real Estate LLC. All rights reserved. CENTURY 21®, the CENTURY 21 Logo and C21® are service marks owned by Century 21 Real Estate LLC. Century 21 Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated. Listing information is deemed reliable but not guaranteed accurate.