508 El Prado, Bakersfield, CA 93304, Bakersfield, 93304 - 2 bed, 1 bath
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Bakersfield, CA 93304
This Value-Add Residential Property is a Strong Value Opportunity, listed at $254,800—positioned well below the $272,549 Fair Market Value by 6%. This valuation gap provides $17,749 in Instant Equity. While the interior maintains a Dated Condition Rating, the home boasts a newer roof, HVAC, and windows, alongside a separate garage with ADU potential. Located near Sequoia Middle School, it balances structural stability with cosmetic upside. This is an ideal acquisition for Buy-and-Hold Investors or first-time buyers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 508 El Prado Subject | $254,800* List Price | 2 | 1 | 992 | $275 | - |
A 931 Terrace Way Sold | $200,000 | 2 | 1 | 924 | $216 | 0.4 mi |
B 1033 Chapel Drive Sold | $290,000 | 2 | 1 | 1,126 | $258 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
While the property boasts essential 'newer' system updates including the roof, HVAC, and windows, the interior is dated. The kitchen features older tile countertops, painted cabinetry, and appliances that appear to be 15-30 years old, fitting the criteria for a home needing cosmetic updates despite being well-maintained.
The property features a newer roof, HVAC system, and windows, which significantly reduces immediate maintenance costs and improves energy efficiency for the new owner.
The inclusion of a separate garage provides excellent flexibility for secure parking, a workshop, or potential future conversion into an Accessory Dwelling Unit (ADU).
Despite its compact footprint, the home offers a practical interior design with indoor laundry facilities and ample natural light, maximizing the utility of the living space.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6598, other record lot size in square feet = 6534.
With only two bedrooms and one bathroom, the property may have limited appeal for larger families or those requiring a dedicated home office space.
Built in 1940, the home may possess inherent limitations typical of its era, such as smaller closet sizes and potential legacy plumbing or electrical components not addressed by recent updates.
Welcome to 508 El Prado Dr, a home with important updates already done. The property features a newer roof, newer central A/C and heating, and newer windows, helping keep the home comfortable year-round. Inside, you'll find a practical layout with indoor laundry and good natural light. The separate garage adds extra flexibility and potential for future use. Conveniently located near schools, shopping, and main roads, this home is easy to see and easy to appreciate.
No exterior & parking available.
Grades K-5 • 0.7 mi
Grades K-5 • 0.8 mi
Grades K-5 • 1.2 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 40% |
| Baths | 1.0 | 2.0 | 40% |
| Square foot | 992 | 1,137 | 20% |
| Lot Size | 6,598 | 6,766.5 | 40% |
| Price | $254.8K | $297.5K | 20% |
| Price per sq ft | $257 | $257 | 50% |
| Built year | 1940 | 1956 | 20% |
| HOA | $0 | $0 | 50% |
| Days on market | 56 | 247 | 10% |
Apr 21, 2026
$254,800
Initial Listing
Sep 11, 2017
$105,000
Public Record
Mar 12, 2010
$53,000
Public Record
Apr 13, 2006
$204,000
Public Record