416 Jean, Ridgecrest, CA 93555, Ridgecrest, 93555 - 3 bed, 3 bath
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Ridgecrest, CA 93555
This Multi-Unit Income Property is a High-Potential Investment Opportunity listed at $299,000. While positioned slightly above the $280,922 Fair Market Value, the valuation is supported by a rare 8% estimated cap rate and adherence to the 1% rule. The estate features a Main House, Studio conversion, and Detached ADU offering Mountain Views and a Private Pool. With a Fair Condition Rating, the property allows for immediate value-add through the "Dream Home" renovation program. This versatile asset is ideal for Buy-and-Hold Investors or House-Hackers seeking maximum cash flow.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 416 Jean Subject | $299,000* List Price | 3 | 3 | 1,407 | $200 | - |
A 400 Vista Street Sold | $253,000 | 3 | 2 | 1,331 | $190 | 1.0 mi |
B 409 N. Alvord St Active | $228,000 List Price | 3 | 2 | 1,328 | $172 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property, built in 1956, presents a mix of recent cosmetic updates and significant original elements. While the main living areas feature new luxury vinyl plank flooring and the bathrooms have been tastefully modernized with new vanities and tile work, the kitchen remains largely original with dated wood cabinetry, green tile countertops, and older appliances. Additionally, the ADU and studio conversion show signs of age, including dated wood paneling, acoustic ceiling tiles, and older carpeting, placing the overall condition in the 'fair' category as it requires further modernization.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7712, living area = 1407.
With three separate living units including a main house, a studio conversion, and a detached ADU, this property offers exceptional house-hacking opportunities or a high-yield investment with an estimated 8% cap rate.
The unique 'Dream Home Program' allows buyers to include renovations or upgrades during the escrow process, providing a rare path to a modernized home tailored to specific tastes without out-of-pocket post-closing costs.
Originally built in 1956, the home may require ongoing maintenance or significant updates to aging infrastructure systems, such as plumbing and electrical, that are not fully addressed by cosmetic renovations.
The garage-to-studio conversion and detached ADU may present challenges with traditional financing, appraisal valuations, or permitting compliance compared to standard single-family residences.
Welcome to 416 Jean Ave! You do not want to miss this rare opportunity, that’s perfect for so many different types of buyers with endless possibilities. Whether you are a first time homebuyer that wants to offset your mortgage, possibly house-hack and live essentially for free. Or maybe your a first time investor or a very experienced investor that wants to take advantage of the 1% rule, which is unheard of in todays market. This home has an estimated cap rate over 8%. This property can also be perfect for a multigenerational family, with 3 separate units. The main house features three bedrooms with two updated bathrooms, updated flooring throughout and its own separate spacious backyard, with a living sq ft at 1407. The garage was converted into a studio with its own bathroom and space for a kitchenette. It has its own access and heating source and additional sq ft of 320 living space. In addition, there is a separate detached ADU of 370 sq ft plus the enclosed balcony, with its own bathroom and kitchenette, and the best views on the property. The property also features a massive pool, with new pool pump and filter for those hot summer days. This home is also part of our dream home program, so if there is anything you want changed, updated or remodeled we can do that in escrow, just like new construction. This home beats the 1% rule as an investor, or someone can live in the ADU and have their mortgage paid by the other two units. It’s one of the best values in Ridgecrest, with a list price far below the average price per sq ft. Call today for your showing!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 3.0 | 2.0 | 85% |
| Square foot | 1,407 | 1,478.5 | 45% |
| Lot Size | 7,712 | 7,840.4 | 40% |
| Price | $299.0K | $250.0K | 65% |
| Price per sq ft | $213 | $177 | 80% |
| Built year | 1956 | 1976 | 20% |
| HOA | $0 | $0 | 50% |
| Days on market | 82 | 259 | 5% |
Mar 17, 2026
$299,000
$325,000
-8% Price Drop
Initial Listing
Jan 30, 2026
$325,000
Initial Listing