
Bakersfield, CA 93305
This Strong Value Opportunity is a Residential Income Asset listed at $475,000, positioned above the $437,321 Fair Market Value. Despite the premium, the property offers immediate cash flow with a $2,000/mo front unit and a vacant rear unit ready for lease. Featuring extensive modern upgrades like new A/C and appliances, the home maintains a Fair Condition Rating. The versatile layout, including a converted 2-car garage, provides significant rental upside. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a house-hack strategy.
Property is move-in ready.
While originally built in 1935, the property has undergone significant recent renovations including a modern kitchen with white shaker cabinets and stainless appliances, new LVP flooring, new windows, and updated systems such as a new water heater and split-system A/C. The bathroom tile remains dated (Fair condition), but the overall unit is move-in ready and well-maintained.
The property offers immediate cash flow with the front unit currently rented at $2,000 per month and a vacant rear unit previously fetching $1,650, providing a high yield for investors.
Significant recent improvements including new windows, wood flooring, updated kitchen appliances, and a split-system A/C enhance the property's value and reduce immediate capital expenditure needs.
The combination of a 3-bedroom main house, an unfinished basement, and a converted garage unit provides exceptional flexibility for multi-generational living or maximizing rental income.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6724, other record lot size in square feet = 6534. Living area discrepancy between mls listing and other public or private record. mls listing living area = 1450, other record living area = 2000.
The explicit requirement for the buyer to verify all conversions, additions, and basement use suggests potential issues with unpermitted work or zoning compliance that could affect financing or future use.
Built in 1935 and sold in as-is condition, the property may have underlying structural or system issues typical of older homes that the seller will not address, requiring thorough due diligence.
Welcome to this spacious and versatile Bakersfield property offering comfortable living, valuable updates, and excellent rental potential. The main residence features 3 bedrooms and 2 bathrooms with an abundance of living space, new fixtures, wood flooring, new windows, a new water heater, updated kitchen appliances and fixtures, and a split-system A/C throughout the home. The inviting living room features a fireplace, while the generous yard provides plenty of outdoor space for entertaining, recreation, or relaxation. Off the kitchen is an unfinished basement area offering additional flexibility and potential. With the appropriate approvals, this space may provide an opportunity for additional living area, storage, or other uses. The property also includes a detached 2-car garage that has been meticulously converted into additional living space. This converted area was recently rented for approximately three years and offers a bedroom plus a large bonus room that was utilized as a bedroom, providing significant flexibility for extended living, rental, or guest accommodations. The front unit is currently occupied by a reliable tenant paying $2,000 per month plus all utilities, with the owner currently responsible only for water. The rear unit is vacant and was most recently rented for $1,650 per month, offering an immediate opportunity for a new owner to establish rental income. The rear unit also features separate washer/dryer hookups and is separately gated from the main house for added privacy and convenience. Additional features include an ADT alarm system, spacious interiors, ample parking, and multiple areas that provide flexibility for owner-occupancy, extended family, or rental use. With existing rental income and additional income potential, this property presents an excellent opportunity for investors or buyers seeking a property with versatility and upside. Buyer to verify all square footage, bedroom/bathroom counts, conversions, additions, basement use, permits, zoning, and other property information to their own satisfaction and due diligence. Property was purchased AS-IS by the current seller. Buyer and buyer's agent to independently verify all information and permitted uses with the appropriate authorities.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 7.5 |
| Baths | 2.0 | 4.0 |
| Square foot | 1,450 | 3,255.25 |
| Lot Size | 6,724 | 9,020 |
| Price | $475.0K | $503.0K |
| Price per sq ft | $328 | $185 |
| Built year | 1935 | 1968 |
| HOA | $0 | $0 |
| Days on market | 6 | 83 |
Sep 3, 2026
$475,000
Initial Listing
Sep 16, 2024
$400,000
Public Record
Oct 31, 2022
$345,000
Public Record
May 31, 2022
$155,000
Public Record
May 18, 1994
$1,500
Public Record
Apr 25, 1994
$1,500
Public Record