303 El Tejon, Bakersfield, CA 93308, Bakersfield, 93308 - 0 bed, 0 bath
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Bakersfield, CA 93308
This Turnkey Triplex Investment is a Strong Value Opportunity, listed at $415,000—positioned well below the $461,346 Fair Market Value by 10%. This valuation gap offers $46,346 in Instant Equity. Boasting a Condition Rating of 3, the property features a renovated kitchen with granite countertops and a private patio. With a net operating income exceeding $32,000 and proximity to North High School, this asset ensures immediate cash flow and long-term stability. It is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 303 El Tejon Subject | $415,000* List Price | 0 | 0 | 1,848 | $250 | - |
A 614 Woodrow Sold | $320,000 | 0 | 0 | 1,655 | $193 | 0.4 mi |
B 820 Woodrow Sold | $539,000 | 0 | 0 | 2,256 | $239 | 0.7 mi |
C 407 Washington Avenue Active | $479,000 List Price | 0 | 0 | 2,120 | $226 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Despite being built in 1938, the property is in turnkey, move-in ready condition. The kitchen has been modernly renovated with white shaker cabinets, granite countertops, subway tile backsplash, and stainless steel appliances. The interior features consistent large-format tile flooring and updated paint, while the bathrooms are well-maintained with some newer tiling and fixtures.
The property generates over $43,000 in annual gross income with a net operating income exceeding $32,000, providing investors with immediate profitability and a solid cap rate.
The rear units are exceptionally clean and rent-ready, which minimizes initial capital expenditures and reduces the risk of vacancy for a new owner.
There is significant upside potential through gradual rent adjustments and operational improvements, allowing for long-term growth in both yield and property value.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =7168, other record lot size in square feet = 6969.
Built in 1938, the property may require more frequent maintenance or updates to major systems compared to newer multi-family assets.
The local schools have relatively low ratings, ranging from 2 to 5, which may limit the appeal for long-term family tenants and impact future resale demand.
Well-maintained triplex in North Bakersfield offering strong in-place income. The property features a spacious front home along with two rear units that are exceptionally clean and turnkey, making this an ideal opportunity for investors seeking a low-maintenance asset. The property currently generates approximately $43,000+ in annual income with a net operating income exceeding $32,000, providing immediate cash flow from day one. The rear units have been well cared for and are rent-ready, reducing future capital expenditures and minimizing downtime. In addition to its current performance, there remains upside potential through gradual rent adjustments and operational improvements, offering both stability and growth. Conveniently located near major roads, shopping, and employment centers, this property continues to attract consistent tenant demand.
No exterior & parking available.
Grades K-5 • 0.3 mi
Grades K-5 • 0.8 mi
Grades K-6 • 1.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 1,848 | 1,848 | 50% |
| Lot Size | 7,168 | 6,534 | 60% |
| Price | $415.0K | $415.0K | 50% |
| Price per sq ft | $225 | $193 | 60% |
| Built year | 1938 | 1939 | 40% |
| HOA | $0 | $0 | 50% |
| Days on market | 14 | 114 | 20% |
Apr 8, 2026
$415,000
Initial Listing
Apr 21, 2023
$395,000
Public Record
Sep 8, 2005
$250,000
Public Record
Sep 17, 2002
$80,000
Public Record