1724 Terrace Way, Bakersfield, CA 93304, Bakersfield, 93304 - 0 bed, 0 bath
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Bakersfield, CA 93304
This Turnkey Residential Income Property represents a Strong Value Opportunity, listed at $475,000—positioned well below the $480,400 Fair Market Value by 1%. This valuation gap offers $5,400 in Instant Equity. Featuring a 3-bedroom front unit and a newly remodeled 2-bedroom back unit, the property maintains a Condition Rating of 3, ensuring immediate cash flow. With solar panels and a private patio, this asset is ideal for Buy-and-Hold Investors or Owner-Occupants seeking supplemental rental income in a stable market.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1724 Terrace Way Subject | $475,000* List Price | 0 | 0 | 2,385 | $214 | - |
A 1017 Paloma St Sold | $419,000 | 0 | 0 | 2,044 | $205 | 0.7 mi |
B 1724 Terrace Active | $493,000 List Price | 0 | 0 | 2,385 | $207 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Although built in 1948, the property is well-maintained and functional. The back unit has been newly remodeled (<5 years) with modern finishes, and the presence of solar panels suggests updates to the electrical systems. The property is move-in ready and turnkey for tenants.
The property features two separate units with reliable tenants already in place, providing immediate cash flow and a seamless transition for investors.
The rear 2-bedroom unit has been newly remodeled with updated finishes and modern appeal, reducing immediate capital expenditure requirements for the new owner.
With a 3-bedroom front home and a 2-bedroom back unit, the property offers a high total bedroom count that maximizes rental demand and utility.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2385, other record living area = 1635.
Built in 1948, the property may have older mechanical, electrical, or plumbing systems that require more frequent maintenance compared to newer builds.
The assigned public schools have relatively low ratings ranging from 3 to 5, which may limit the property's appeal to families prioritizing high-performing education districts.
Fantastic income-producing property featuring two separate units with reliable tenants already in place. The front home offers 3 bedrooms and 2 bathrooms, providing a spacious and comfortable layout for long-term occupancy. The back unit has been newly remodeled and features 2 bedrooms and 1 bathroom, and aproximatly 750sq feet showcasing updated finishes and modern appeal. Both units are currently occupied by good tenants, making this an excellent turnkey investment with immediate cash flow. Conveniently located and well-maintained, this property offers a great opportunity for investors looking to expand their portfolio or owner-occupants seeking supplemental rental income.
No exterior & parking available.
Grades K-5 • 0.7 mi
Grades K-5 • 1.2 mi
Grades K-6 • 1.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 2,385 | - |
| Lot Size | 6,969 | - |
| Price | $475.0K | $549.6K |
| Price per sq ft | $199 | $176 |
| Built year | 1948 | 0 |
| HOA | $0 | $0 |
| Days on market | 41 | 79 |
Jun 12, 2026
$475,000
Initial Listing
Nov 29, 2022
$255,000
Public Record
Jun 19, 2018
$9,000
Public Record
May 11, 2018
$166,000
Public Record
Dec 3, 2014
$124,000
Public Record
Mar 1, 2010
$130,000
Public Record