223 Monterey Street, Bakersfield, CA 93305, Bakersfield, 93305 - bed, bath
ACTIVE$649,000$3,400/sqft
223 Monterey Street, Bakersfield, CA 93305
0Bed
0Bath
3,400Sqft
7,532Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Income-Generating Asset: As a quadruplex, this property offers multiple rental income streams, making it an attractive investment opportunity.
Top Cons:
MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =7532, other record lot size in square feet = 7405.
Compared to the nearby listings
Price:$649.0K vs avg $608.0K (+$41,000)67%
Size:3,400 sqft vs avg 3,400 sqft50%
Price/sqft:$191 vs avg $16867%
More Insights
Built in 1982 (44 years old).
Condition: Built in 1982, the property has undergone some 'rehab' and exterior remodeling. While the exterior appears refreshed and flooring in some areas is updated, the kitchens and bathrooms still feature older style cabinets, white appliances, basic light fixtures, and popcorn ceilings, indicating functional but outdated aesthetics. One unit still requires cosmetic repairs, further supporting a 'fair' assessment where minor updates are needed.
Year Built
1982
Close
-
List price
$649K
Original List price
-
Price/Sqft
$191
HOA
$0
Days on market
-
Sold On
-
MLS number
DW25039774
Home ConditionFair
Features
Patio
View-
About this home
Four units building centrally located close to all amenities the city of Bakersfield have to offer. All units are two story two bedrooms one bathroom each. Three units have been rehab and one unit requires cosmetic repairs, exterior of the building was also remodeled and painted.
G
Gilbert Ayala
Listing Agent
Price History
Date
Event
Price
08/08/24
Sold
$520,000
08/27/19
Sold
$295,000
02/19/16
Sold
$151,000
10/22/04
Sold
$280,000
Condition Rating
Fair
Built in 1982, the property has undergone some 'rehab' and exterior remodeling. While the exterior appears refreshed and flooring in some areas is updated, the kitchens and bathrooms still feature older style cabinets, white appliances, basic light fixtures, and popcorn ceilings, indicating functional but outdated aesthetics. One unit still requires cosmetic repairs, further supporting a 'fair' assessment where minor updates are needed.
Pros & Cons
Pros
Income-Generating Asset: As a quadruplex, this property offers multiple rental income streams, making it an attractive investment opportunity.
Prime Central Location: Strategically located close to all city amenities, enhancing tenant appeal, demand, and potential rental rates.
Extensive Recent Renovations: Three out of four units have been rehabbed, and the building's exterior was remodeled and painted, reducing immediate capital expenditures for the new owner.
Desirable Unit Layouts: Each unit features a two-story, 2-bedroom, 1-bathroom configuration, offering a more spacious and private living experience for tenants.
No Association Fees: The absence of association fees reduces ongoing operational costs for the property owner, maximizing net income.
Cons
MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =7532, other record lot size in square feet = 7405.
Incomplete Renovations: One unit still requires cosmetic repairs, necessitating additional investment and effort from the new owner post-acquisition.
Property Age: Built in 1982, while partially renovated, the property may still have older core systems (e.g., plumbing, electrical) that could require future maintenance or upgrades.
Single Bathroom Per Unit: Each 2-bedroom unit having only one bathroom could be a limiting factor for some tenant demographics or larger households, potentially affecting marketability.