
Bakersfield, CA 93305
This Value-Add Triplex presents a Strong Value Opportunity with a List Price of $450,000—positioned well below the $497,552 Fair Market Value by 9%. This valuation gap offers $47,552 in Instant Equity for buyers ready to renovate the property from its current Condition Rating of 4. Featuring onsite parking and a private patio, this asset is located near downtown Bakersfield, ensuring consistent rental demand despite local school ratings. This is a strategic acquisition for Buy-and-Hold Investors or Owner-Occupants seeking long-term cash flow.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1024 Bernard Street Subject | $450,000* List Price | 0 | 0 | 2,400 | $188 | - |
A 1917 Pacific Street Active | $319,900 List Price | 0 | 0 | 2,309 | $139 | 1.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1984, this triplex is a classic 'value-add' property showing significant signs of age and deferred maintenance. The kitchens feature outdated cabinetry with visible wear, including a damaged interior door, and older appliances. The living areas have popcorn ceilings and dated wall heating units. While the property appears structurally functional and currently occupied, the exterior areas are unkempt and the interiors require comprehensive cosmetic updates, including new flooring, modern light fixtures, and kitchen/bathroom renovations to reach current market standards.
As a triplex, this property offers multiple revenue streams and the flexibility for owner-occupancy to offset mortgage costs, making it a versatile asset for investors.
Positioned minutes from downtown Bakersfield with easy access to major thoroughfares and employment centers, the property is well-located to maintain high occupancy rates.
The generous 7,524 sqft lot includes dedicated onsite parking, a significant value-add for tenants that enhances the property's overall desirability and functionality.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =7524, other record lot size in square feet = 7405.
The assigned elementary and middle schools have low ratings (2-3), which may deter long-term family tenants and impact the property's appeal to a broader demographic.
Marketed as a value-add opportunity, the property likely requires immediate capital investment for renovations or upgrades to achieve top-of-market rental rates.
Prime Value-Add Triplex Opportunity in Bakersfield! This multi-family triplex offers strong income potential and long-term upside for both investors and owner-users. Positioned in a convenient Bakersfield location with easy access to schools, shopping, employment centers, and major thoroughfares, this property is well-suited for stable cash flow and future appreciation. The triplex features three separate units, each with its own private living space and functional layout—appealing to a wide tenant pool. The property’s configuration offers flexibility for full rental operation, owner-occupancy with income, or repositioning for increased rents. Generous lot space and onsite parking add to tenant convenience and overall desirability. With consistent demand for rental housing in the area, this asset presents a strong opportunity to generate immediate income while also offering potential for value-add improvements over time. Investors will appreciate the manageable size, solid fundamentals, and favorable location, while owner-users can benefit from offsetting mortgage costs with rental income. Located minutes from downtown Bakersfield, local employers, dining, and commuter routes, this property delivers both accessibility and investment appeal. A smart acquisition for investors seeking cash flow, upside, and long-term stability—don’t miss this opportunity to add a quality triplex to your portfolio!
No exterior & parking available.
Grades K-5 • 0.4 mi
Grades K-5 • 0.6 mi
Grades K-6 • 1.1 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 2,400 | 2,488 | 40% |
| Lot Size | 7,524 | 7,524 | 50% |
| Price | $450.0K | $510.0K | 40% |
| Price per sq ft | $188 | $188 | 50% |
| Built year | 1984 | 1984 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 137 | 166 | 20% |
Jan 27, 2026
$450,000
Initial Listing
Jun 16, 2021
$300,000
Public Record
Nov 12, 2020
$275,000
Public Record
Aug 12, 2016
$150,000
Public Record
Jun 6, 2014
$110,000
Public Record
Aug 20, 2001
$90,000
Public Record