YourSpace America QOF IV

• Total Project Cost $16,232,814
• Total Equity $5,681,485
• Total Debt $10,551,329
• Average Projected IRR 22.8%
• Investor Equity Multiple 6.78
• Minimum investment 25,000

Additional Details:

The subject property is located at 141 N. Chester Avenue, Bakersfield, California 93308. The subject property is a 1.71-acre (74,640 SF) land parcel and planned self-storage development project.

The subject property will be a major qualitative addition to the existing self-storage market and will be the premier self-storage facility in the market. The average age of self storage facilities in the market is twenty-nine years. In addition, there is extremely limited climate-controlled self-storage in  the market,with only one climate-controlled facility in the market.

The three-mile population is 90,371 and the five-mile population is 229,477.

The subject property’s zoning allows self-storage-use by CUP, which was approved April 24, 2025.

The development team is currently collaborating with its consultants and the City of Bakersfield and recently obtained CUP and site plan approval for the subject property. The development, as it is currently planned meets the FAR, height limitation, and setback requirements per City of Bakersfield building code. The building site acquisition is scheduled to close in September 2025, and the team is working to obtain a building permit prior to the end of Q-4 2025.

The business plan for the subject property is to develop a fully climate controlled self-storage facility of approximately 108,828 GBA, with 80,216 NRSF, with approximately 813 units, and an office of 1,225 SF.

The new facility will be a state-of-the-art Generation V self-storage facility of institutional quality. The subject property, in addition to being climate controlled, will offer a state-of-the-art security system that is professionally monitored for immediate video verification of the alarm and priority police response to any unauthorized intrusion. The subject property will also have coded electronic access for customers.

Bakersfield is located in Central California in the San Joaquin Valley.