1814 3rd Street, Bakersfield, CA 93304, Bakersfield, 93304 - bed, bath
ACTIVE$289,900/sqft
1814 3rd Street, Bakersfield, CA 93304
0Bed
0Bath
Sqft
6,233Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Multi-Unit Investment: As a triplex, the property offers diversified income streams, reducing vacancy risk and providing a strong asset for investors seeking consistent cash flow.
Top Cons:
MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6233, other record lot size in square feet = 6098.
Compared to the nearby listings
Price:$289.9K vs avg $1.42M ($-1,130,050)50%
Size: sqft vs avg 10,280 sqft50%
Price/sqft:$0 vs avg $6250%
More Insights
Built in 1948 (78 years old).
Condition: Built in 1948, this property is over 75 years old. While it benefits from fresh paint and what appears to be newer carpet, these are superficial updates. The bathroom features very dated blue tile, suggesting a renovation that is likely 30-50 years old, and the vanity is basic. The kitchen, though not fully visible, is highly likely to be equally outdated given the property's age and the 'value-add' description. The listing itself highlights 'Age of Property' and 'Required Capital Expenditure' as weaknesses, indicating that substantial renovation and modernization efforts are necessary to bring it up to current standards and maximize its potential. While livable, it requires significant rehabilitation beyond minor updates.
Year Built
1948
Close
-
List price
$290K
Original List price
-
Price/Sqft
$0
HOA
$0
Days on market
-
Sold On
-
MLS number
SR25200665
Home ConditionPoor
Features
View-
About this home
Charming 3-Unit Value-Add Investment Opportunity in Bakersfield, CA! Discover this rare opportunity to own a 3-unit property in the heart of Bakersfield. This value-add investment offers excellent potential for increased rental income and long-term appreciation. With separately metered gas and electricity, this property provides both flexibility and efficiency for tenants and landlords alike.
A
Alejandro Mora
Listing Agent
Nearby schools
4/10
Roosevelt Elementary School
Public,•K-5•0.4mi
2/10
Emerson Middle School
Public,•6-8•0.7mi
4/10
Bakersfield High School
Public,•9-12•0.7mi
Price History
Date
Event
Price
09/19/24
Sold
$200,000
Condition Rating
Poor
Built in 1948, this property is over 75 years old. While it benefits from fresh paint and what appears to be newer carpet, these are superficial updates. The bathroom features very dated blue tile, suggesting a renovation that is likely 30-50 years old, and the vanity is basic. The kitchen, though not fully visible, is highly likely to be equally outdated given the property's age and the 'value-add' description. The listing itself highlights 'Age of Property' and 'Required Capital Expenditure' as weaknesses, indicating that substantial renovation and modernization efforts are necessary to bring it up to current standards and maximize its potential. While livable, it requires significant rehabilitation beyond minor updates.
Pros & Cons
Pros
Multi-Unit Investment: As a triplex, the property offers diversified income streams, reducing vacancy risk and providing a strong asset for investors seeking consistent cash flow.
Value-Add Potential: Explicitly marketed as a 'value-add investment,' it presents excellent potential for increasing rental income and long-term appreciation through strategic improvements and management.
Separately Metered Utilities: Gas and electricity are separately metered for each unit, simplifying landlord responsibilities, reducing operating costs, and promoting tenant accountability.
Central Location: Situated 'in the heart of Bakersfield,' the property benefits from good accessibility to amenities, services, and a potentially strong tenant pool.
Investment Appeal: Positioned as a 'rare opportunity' for a multi-unit property in the area, it is likely to attract significant interest from investors looking for income-generating assets.
Cons
MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6233, other record lot size in square feet = 6098.
Age of Property: Built in 1948, the property is over 75 years old, suggesting potential for outdated systems (plumbing, electrical, HVAC) and deferred maintenance that may require significant capital investment.
Required Capital Expenditure: The 'value-add' nature implies that substantial renovation and modernization efforts will be necessary to maximize rental income and appreciation, which may not appeal to all investors seeking a turn-key property.
Recent Price Increase: The property was sold for $200,000 in September 2024 and is now listed at $289,900, representing a significant price jump in a short period, which could impact immediate cash flow or perceived value.