1612 1st Street, Bakersfield, CA 93304, Bakersfield, 93304 - bed, bath

1612 1st Street
Bakersfield, CA 93304
Property Price
SUMMARY
Analysis of 1612 1st Street, Bakersfield, CA 93304 is currently available with a list price of $1,600,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Bakersfield Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
Property is moderate renovation needed.
Built in 1940, this property is significantly aged. While the exterior appears maintained for its age and the property generates 'strong in-place cash flow,' indicating functionality, the lack of interior images and the description's mention of 'classic details' strongly suggest that kitchens, bathrooms, and other interior components are outdated. The property analysis explicitly lists 'aging infrastructure' as a weakness, implying major systems are functional but show significant signs of age and will require substantial capital expenditures for updates and repairs, aligning with the 'fair' condition criteria.
PROSSTRENGTHS & OPPORTUNITIES
- Significant Value-Add Potential
The property offers substantial upside through the conversion of eight detached garages into ADUs or storage units, creating new revenue streams and capitalizing on housing demand.
- Strong In-Place Cash Flow
Benefits from immediate income due to a stabilized rental base and strong cash flow in a high-demand submarket, providing financial stability.
- Distinctive Architectural Charm
Features charming Spanish-style architecture with red-tile roofs, arched entryways, and lush landscaping, enhancing curb appeal and tenant attraction.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =27442, other record lot size in square feet = 20908. Living area discrepancy between mls listing and other public or private record. mls listing living area = 7293, other record living area = 6213.
- Age of Property (1940)
Built in 1940, the property may require ongoing maintenance and potential capital expenditures for aging infrastructure, which could impact long-term operational costs.
- Recent Price Appreciation
The listing price reflects a significant increase from its last sale in 2022, potentially impacting the initial cap rate and requiring the investor to quickly execute value-add strategies to justify the current valuation.
About 1612 1st Street
This charming Spanish-style 10-unit apartment property in Bakersfield presents a rare and beautiful value-add investment opportunity. The property features distinctive Spanish cottage architecture with red-tile roofs, arched entryways, and lush landscaping that exudes curb appeal and timeless character. Each unit is thoughtfully designed with spacious layouts and classic details that attract quality tenants. With strong in-place cash flow, the investor can enjoy immediate income from a stabilized rental base in a high-demand submarket. What sets this opportunity apart is the significant upside potential through the conversion of eight detached garages. The investor has the option to create new revenue streams by converting the garages into rentable accessory dwelling units (ADUs), tapping into the growing demand for affordable housing in Bakersfield. Alternatively, the garages can be leased as storage units for additional monthly income. This flexible value-add strategy offers both immediate and long-term income growth, making it an ideal opportunity for a savvy investor looking to capitalize on both yield and appreciation in a growing Central Valley market.
Property Details
Public Facts
- Property Type
- Mixed Use
- Year Built
- 1940
- Lot Size
- 27,442 Sq. Ft.
Interior
- Total Bedrooms
- -
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 0% |
| Baths | - | - | 0% |
| Square foot | - | - | 0% |
| Lot Size | - | - | 0% |
| Price | - | - | 0% |
| Price per sq ft | - | - | 0% |
| Built year | 1940 | - | 0% |
| HOA | $0 | $0 | 0% |
| Days on market | - | - | 0% |
Pricing History
Listed for Sale
Jan 27, 2026
$1,600,000
Initial Listing
Sold
Jul 22, 2022
$1,450,000
Public Record
Sold
Oct 8, 2020
$865,000
Public Record
