Updated Jun 22, 2026
SOLDHotel
Kal Patel And Team Acquire Hotel In Bakersfield For $1.2 Million From Seller Madhu Prasad
3620 Wible Road
$1,200,000
$57/SF
Building Size
20,952 SF
Asset Type
Hotel
Closing
Jun 16, 2026
About this deal
AI
The property involved in this transaction is a hotel located at 3620 Wible Road, Bakersfield. The sold asset comprises a total square footage of 20,952 and the sale was completed for a price of $1,200,000. The property includes 60 keys, with a price per key of $20,000 and a price per square foot of $57.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $1,200,000
- Address: 3620 Wible Road
- Market: Bakersfield
- Keys: 60
- PPK: $20,000
- SF: 20,952
- PPSF: $57
- Buyer: Kal Patel, Mayank Patel, Mihir Patel, Jagesh Patel, Shreeya Patel, Milan Dayal & Vinay Patel
- Seller: Madhu Prasad
- Buyer's Representative: Kal Patel - Colliers
- Seller's Representative: Chirag Patel - RAD Commercial Real Estate
On the Map
$1,200,000
$57/SF
Hotel
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Players
Bakersfield Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
13.22%
Cash-on-Cash
-3.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93