214 Madison Street, Bakersfield, CA 93307, Bakersfield, 93307 - 2 bed, 1 bath
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Bakersfield, CA 93307
This Dual-Dwelling Asset represents a Strong Value Opportunity, listed at $399,900—positioned well above the $355,105 Fair Market Value. While the property carries a Fair Condition Rating, the combination of a Brand New ADU and a New AC System provides immediate utility. The large 7,254 sqft lot offers significant potential for multi-generational living or rental income. This property is an ideal acquisition for Buy-and-Hold Investors seeking cash flow or Owner-Occupants looking to offset mortgage costs through secondary unit rental.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 214 Madison Street Subject | $399,900* List Price | 2 | 1 | 1,200 | $296 | - |
A 1012 Feliz Drive Active | $340,000 List Price | 3 | 2 | 1,206 | $282 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property offers a unique combination: a brand new, modern ADU with stylish finishes, which is in excellent condition. However, the main home, built in 1952, features a significantly outdated kitchen and bathroom, appearing to be original or from a very old renovation. These key areas require substantial updates to meet current quality and aesthetic standards. While the main home benefits from a new AC installation and appears otherwise maintained with newer carpet in some areas, the dated kitchen and bathroom prevent an overall 'Good' rating. The property's condition is a blend, with the ADU being excellent and the main home's wet areas being poor, averaging out to a 'Fair' overall condition.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7254, living area = 1200.
The property features two separate homes on one lot, offering excellent potential for multi-generational living or significant rental income.
Includes a newly constructed, modern 2-bedroom, 1-bathroom Accessory Dwelling Unit with stylish finishes and a private entrance, adding immediate value and flexibility.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =7254, other record lot size in square feet = 7405.
The primary residence was built in 1952, suggesting potential for older systems or components that may require future maintenance or updates beyond the new AC.
The listed 1200 sqft for two homes (totaling 5 bedrooms and 2 bathrooms) indicates potentially compact living areas for both units, which might feel constrained for larger families.
2 Homes on 1 Lot - Perfect for Multi-Generational Living or Investment! NEW AC WILL ALSO BE INSTALLED BEFORE COE Discover the perfect blend of comfort and opportunity with this unique property offering two separate homes on one spacious lot! Main Home: This beautifully maintained residence features 3 bedrooms and 1 bathrooms, offering a spacious layout perfect for families. Enjoy a comfortable living area, a functional kitchen, and a private backyard space for entertaining or relaxing. Second Home (ADU): Brand new construction! This modern 2-bedroom, 1-bathroom home is ideal for extended family, rental income, or a private guest space. Designed with stylish finishes and its own entrance for added privacy.
No exterior & parking available.
Grades K-5 • 0.8 mi
Grades K-5 • 1.3 mi
Grades K-5 • 2.9 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 0.0 |
| Baths | 1.0 | 0.0 |
| Square foot | 1,200 | - |
| Lot Size | 7,254 | - |
| Price | $399.9K | $399.2K |
| Price per sq ft | $333 | $245 |
| Built year | 1952 | 0 |
| HOA | $0 | $0 |
| Days on market | 320 | 57 |
Jul 2, 2026
$399,900
$389,900
+3% Price Increase
Initial Listing
Sep 5, 2025
$389,900
Initial Listing
Jul 5, 2023
$100,000
Public Record