517 Lincoln Avenue, Bakersfield, CA 93308, Bakersfield, 93308 - bed, bath
ACTIVE$450,000$2,624/sqft
517 Lincoln Avenue, Bakersfield, CA 93308
0Bed
0Bath
2,624Sqft
6,673Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Income-Generating Asset: A triplex with two units currently rented at $1,200/month each, providing immediate and substantial rental income.
Top Cons:
MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6673, other record lot size in square feet = 6534.
Compared to the nearby listings
Price:$450.0K vs avg $450.0K (+$0)50%
Size:2,624 sqft vs avg 2,624 sqft50%
Price/sqft:$171 vs avg $17150%
More Insights
Built in 1981 (45 years old).
Condition: The property was built in 1981, making it 43 years old. While the listing states 'great updated' and 'great conditions,' the images of the kitchen reveal dated wooden cabinets, speckled laminate or low-end granite countertops, and large square ceramic tile flooring. The stainless steel range appears to be a newer update, but the overall kitchen aesthetic is not modern. The 'Sold As Is' clause also suggests potential for minor updates or repairs. The property is functional and maintained, but its style and some components are outdated, fitting the 'fair' category which describes homes aged over 20 years with functional but outdated major components, requiring minor updates.
Year Built
1981
Close
-
List price
$450K
Original List price
-
Price/Sqft
$171
HOA
$0
Days on market
-
Sold On
-
MLS number
SR25119091
Home ConditionFair
Features
View-
About this home
Great updated 3 units TRIPLEX property for sale. Great conditions & great income. Plenty of parking spaces on site at back of Triplex (off street parking). Laundry hook up inside each unit. All of 3 units are 2 bedrooms and 1 bath. Currently 2 units are rented for $1,200 per month each. Owner paid for water & trash approximately $87 per month. Tenants pay for their gas & electrical bills. ** Property Sold As is **
J
Jennifer Padich
Listing Agent
Nearby schools
3/10
North Beardsley Elementary School
Public,•K-6•0.7mi
2/10
Standard Elementary School
Public,•K-5•0.7mi
3/10
Wingland Elementary School
Public,•K-5•0.8mi
2/10
Standard Middle School
Public,•6-8•0.6mi
4/10
Beardsley Junior High School
Public,•7-8•0.7mi
5/10
North High School
Public,•9-12•1.0mi
Price History
Date
Event
Price
02/28/18
Sold
$225,000
05/21/15
Sold
$177,000
01/28/10
Sold
$150,000
05/29/09
Sold
$86,000
Condition Rating
Fair
The property was built in 1981, making it 43 years old. While the listing states 'great updated' and 'great conditions,' the images of the kitchen reveal dated wooden cabinets, speckled laminate or low-end granite countertops, and large square ceramic tile flooring. The stainless steel range appears to be a newer update, but the overall kitchen aesthetic is not modern. The 'Sold As Is' clause also suggests potential for minor updates or repairs. The property is functional and maintained, but its style and some components are outdated, fitting the 'fair' category which describes homes aged over 20 years with functional but outdated major components, requiring minor updates.
Pros & Cons
Pros
Income-Generating Asset: A triplex with two units currently rented at $1,200/month each, providing immediate and substantial rental income.
Updated & Well-Maintained: Described as 'great updated' and in 'great conditions,' suggesting a property that requires minimal immediate capital improvements.
In-Unit Laundry Hook-ups: Each unit includes laundry hook-ups, a highly desirable amenity for tenants that enhances rental appeal and convenience.
Abundant Off-Street Parking: Features plenty of on-site, off-street parking spaces, a significant advantage for a multi-unit property in terms of tenant satisfaction and property value.
Optimal Unit Mix: All three units are configured as 2 bedrooms and 1 bath, a popular and efficient layout that attracts a broad tenant base.
Cons
MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6673, other record lot size in square feet = 6534.
Sold 'As-Is': The property is being sold in 'as-is' condition, which may imply potential for deferred maintenance or the need for future repairs without seller contribution.
Partial Vacancy: One of the three units is currently vacant, meaning the property is not generating its maximum potential income and requires the new owner to secure a tenant.
Owner-Covered Utilities: The owner is responsible for water and trash expenses (approximately $87/month), which impacts the net operating income and cash flow.