318 S Owens, Bakersfield, CA 93307, Bakersfield, 93307 - 0 bed, 0 bath
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318 S Owens
Bakersfield, CA 93307
ACTIVE
CONDITION: GOOD
0Beds
0Baths
1,933Sq Ft
6,098Lot Size
Property Price
LIST PRICE$459,000
EST. MARKET VALUE
$434,917
5% AboveMARKET VALUE
SUMMARY
This Duplex Residential Income property represents a High-Potential Investment Opportunity, listed at $460,000—positioned above the $435,617 Fair Market Value by 5%. Despite the premium, the asset offers significant upside through rental optimization, with current rents at $1,500 per unit against a $2,400 market potential. Featuring a Good Condition Rating and modern 2015 construction, this turnkey asset minimizes capital expenditure. It is an ideal acquisition for Buy-and-Hold Investors or House Hackers seeking to capitalize on substantial revenue growth in a stable Bakersfield market.
Estimated Market Value
$434,917
Based on Realkey algorithm analyzing recent comparable sales in Bakersfield.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 318 S Owens Subject | $459,000* List Price | 0 | 0 | 1,933 | $225 | - |
A 722 S Williams Street Pending | $575,000 List Price | 0 | 0 | 2,700 | $213 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Good
TeardownExcellent
Property is move-in ready.
Built in 2015, the property is approximately 11 years old, falling into the 10-20 year 'Good' range. The listing describes the units as move-in ready, and the exterior shows modern stucco and vinyl windows consistent with its age, though the yard requires basic landscaping.
PROSSTRENGTHS & OPPORTUNITIES
- Modern Construction
Built in 2015, this duplex offers contemporary building standards and significantly lower maintenance requirements compared to the older multi-family inventory typically found in the area.
- Substantial Income Upside
With current rents at $1,500 per unit and a projected market potential of $2,400, the property presents a significant opportunity for investors to increase gross revenue by up to 60%.
- Turnkey Condition
The property is marketed as move-in ready and well-maintained, allowing for immediate occupancy or seamless tenant transitions without the need for upfront capital expenditures on renovations.
CONSRISKS & DEFICIENCIES
- Underperforming Current Cash Flow
The property is currently significantly under-rented, which may impact initial debt coverage ratios and immediate cash-on-cash returns for a new buyer until market rates are achieved.
- Modest School Ratings
The local public schools carry lower performance ratings (ranging from 2 to 4), which could potentially limit the long-term appeal for family-oriented tenants and impact future appreciation.
About 318 S Owens
Great 2 Units in a desirable area of Bakersfield. Property shows Move In Ready. Must See to appreciate Each unit consists of 3 bedroom and 2 bath and currently collecting $1,500 per month each. However, it could be up to $2,400 in the area.
Property Details
Public Facts
- Property Type
- Duplex
- Year Built
- 2015
- Lot Size
- 6,098 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Bakersfield Unified Schools
Bessie E. Owens Primary School
Grades K-3 • 0.3 mi
4/10
Fremont Elementary School
Grades K-6 • 0.4 mi
3/10
Compton Junior High School
Grades 7-8 • 2.9 mi
2/10
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 | 1,933 | 3,255.25 |
| Lot Size | 6,098 | 9,020 |
| Price | $459.0K | $503.0K |
| Price per sq ft | $237 | $185 |
| Built year | 2015 | 1968 |
| HOA | $0 | $0 |
| Days on market | 42 | 83 |
Pricing History
Listed for Sale
Aug 28, 2026
$459,000
$437,000
+5% Price Increase
Initial Listing
Price Change
Aug 20, 2026
$437,000
$460,000
-5% Price Drop
Initial Listing
Price Change
Jul 29, 2026
$460,000
Initial Listing
Sold
Oct 18, 2017
$235,000
Public Record
Sold
Mar 16, 2015
$25,000
Public Record