237 Dr Martin Luther King Jr, Bakersfield, CA 93307, Bakersfield, 93307 - 0 bed, 0 bath
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237 Dr Martin Luther King Jr
Bakersfield, CA 93307
ACTIVE
CONDITION: FAIR
0Beds
0Baths
3,557Sq Ft
7,535Lot Size
Property Price
LIST PRICE$585,000
SUMMARY
Excellent 4-unit investment opportunity with all units currently occupied and generating $58,044 in gross annual income. The property was remodeled in 2022 and features a desirable mix of two 2-bedroom units and two 3-bedroom units. Unit A is 2/1, unit B is 3/1, unit C is 2/1.5, and unit D is 3/1.5.Unit C could be sold vacant or re-rented at current market. Improvements include granite countertops, tile flooring, LVT stair flooring in Units C and D, interior laundry in each unit, private patios, and designated on-site parking. Newer A/C units were installed in 2021, and a concrete block perimeter wall with wrought-iron gates was added in 2022. An attractive opportunity for an investor seeking a fully occupied multifamily property with substantial recent improvements or an FHA buyer looking to live in one unit and rent out the other three units.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
The property was built in 1983 (41 years old), placing it in the >20-year category. While the listing mentions granite countertops and updated finishes, the exterior shows significant age-related wear on the siding and pavement. It is functional and income-producing but remains a dated asset requiring ongoing maintenance of older systems.
PROSSTRENGTHS & OPPORTUNITIES
- Immediate Income Generation
The property is fully occupied with all four units currently rented, providing immediate cash flow for an investor from day one.
- Modernized Interiors
All units feature updated finishes and granite countertops, reducing the need for immediate capital expenditures on interior renovations.
- Diverse Unit Mix
The inclusion of a spacious 3-bedroom, 2-bath unit alongside three 2-bedroom units offers versatility and attracts a broader tenant base.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =7535, other record lot size in square feet = 7405.
- Rapid Price Appreciation
The current list price represents a significant increase from the 2021 sale price of $316,500, which may lead to appraisal challenges or tighter margins.
- Limited Lot Size
With a lot size of 7,535 sqft for a four-unit building, there is limited outdoor space for tenants or potential for future expansion.
About 237 Dr Martin Luther King Jr
Property Details
Public Facts
- Property Type
- Quadruplex
- Year Built
- 1983
- Lot Size
- 7,535 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 7.5 |
| Baths | 0.0 | 4.0 |
| Square foot | 3,557 | 3,050.111 |
| Lot Size | 7,535 | 8,743.333 |
| Price | $585.0K | $480.4K |
| Price per sq ft | $164 | $188 |
| Built year | 1983 | 1966 |
| HOA | $0 | $0 |
| Days on market | 64 | 84 |
Pricing History
Listed for Sale
Aug 21, 2026
$585,000
Initial Listing
Sold
Dec 16, 2021
$316,500
Public Record
Sold
Jan 23, 2019
$285,000
Public Record
Sold
Jan 15, 2016
$225,000
Public Record
Sold
Jul 21, 2015
$140,000
Public Record
Sold
Dec 26, 1996
$6,000
Public Record