Bakersfield multi unit- help evaluate 2 different deals
I am looking to buy my first multi unit property in Bakersfield, ca and am debating between 2 different units and would like some advice on which would be the better option, particularly relating to the neighborhoods. Both are in c/d neighborhoods, which doesn't bother me since I've grown up in those areas and have been a landlord in similar areas on a house I previously took care of.
I would love any advice on the 2 units, especially from anyone who lives or owns rentals in these areas or has experience in these areas. Here's the info...
Deal 1- oildale, nice neighborhood, more sf homes with a few rentals.
160k-3 units- 1 vacant at the moment being remodeled- cash flow about 855$ after expenses & vacancy factor (self managed)- cap rate .12
Deal 2- mount Vernon near kmc, on a busy street in a dicey area but still high demand rent area.
225k- 4 units fully rented with long term tenants- cash flow about 841$ after expenses & vacancy factor (self managed) - cap rate
Oildale pros- nice neighborhood, lower purchase price & money down
Cons- lots of multi units for sale in a mile radius- might be hard to rent & 1 vacant unit
Mount Vernon pros- fully rented, near where I live
Cons- near a busy hospital, sort of a bad area, higher purchase price & money down