2212 Lake, Bakersfield, CA 93305, Bakersfield, 93305 - 0 bed, 0 bath
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Bakersfield, CA 93305
This High-Potential Investment Opportunity is a Residential Income Asset listed at a List Price of $445,000, positioned well below the $434,031 Fair Market Value by -2%. Featuring a Fair Condition Rating (1938 build), the property offers significant value-add potential through modernization of its aging infrastructure. The unit mix of four 1-bedroom, 1-bathroom units provides consistent rental demand, while the option to acquire the adjacent parcel creates an 8-unit portfolio. This is an ideal acquisition for Buy-and-Hold Investors or Value-Add Developers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2212 Lake Subject | $445,000* List Price | 0 | 0 | 2,123 | $204 | - |
A 2208 Lake Street Active | $445,000 List Price | 0 | 0 | 2,128 | $209 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1938 (86 years old) with no mention of major renovations. Visible window AC units indicate a lack of modern central HVAC, and the exterior shows significant aging, suggesting the property requires substantial rehab to meet modern standards.
The property offers excellent flexibility for investors, with the option to purchase the adjacent 4-unit parcel to create an 8-unit portfolio, providing significant economies of scale.
The four 1-bedroom, 1-bathroom units are highly desirable for the Bakersfield rental market, typically ensuring lower vacancy rates and consistent cash flow.
At a list price of $445,000, the cost per door is approximately $111,250, representing a relatively low barrier to entry for multi-family residential income property.
Originally constructed in 1938, the property likely requires ongoing maintenance and capital expenditures to update vintage systems such as plumbing and electrical.
With a total of 2,123 square feet for four units, the average unit size is approximately 530 square feet, which may limit the tenant pool and cap potential rental increases.
Two four-unit properties at 2208 Lake Street in Bakersfield. The buildings features a unit mix of four 1-bedroom, 1-bathroom units. 2212 Lake Street is also for sale and can be purchased as a package totaling 8 units. Both 2208 Lake Street and 2212 Lake Street are on individual parcels and can be purchased separately as well.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 2,123 | - |
| Lot Size | 6,917 | - |
| Price | $445.0K | $549.6K |
| Price per sq ft | $210 | $176 |
| Built year | 1938 | 0 |
| HOA | $0 | $0 |
| Days on market | 111 | 79 |
Apr 3, 2026
$445,000
Initial Listing