5205 Gorham Way, Bakersfield, CA 93309, Bakersfield, 93309 - 2 bed, 2 bath
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5205 Gorham Way
Bakersfield, CA 93309
ACTIVE
CONDITION: FAIR
2Beds
2Baths
1,332Sq Ft
0Lot Size
Property Price
LIST PRICE$290,000
EST. MARKET VALUE
$256,927
12% AboveMARKET VALUE
SUMMARY
This Condominium Asset represents a High-Potential Investment Opportunity, listed at $290,000—positioned well above the $256,928 Fair Market Value by 12%. While the property requires modernization, its Fair Condition Rating and 1,332 square foot open-concept layout provide a solid foundation for value-add renovations. Featuring a private patio and a prime Southwest Bakersfield location, this unit offers significant rental demand potential. This property is an ideal acquisition for Buy-and-Hold Investors or first-time buyers seeking a project to build long-term equity.
Estimated Market Value
$256,927
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 |
|---|---|---|---|---|---|---|
★ 5205 Gorham Way Subject 2 bd · 2 ba · 1,332 sqft · $193 | $290,000* List Price | 2 | 2 | 1,332 | $193 | - |
A 4906 Scorpio Court Sold 2 bd · 2 ba · 1,125 sqft · $182 · 0.6 mi | $205,000 | 2 | 2 | 1,125 | $182 | 0.6 mi |
B 5101 Hunter Active 3 bd · 2 ba · 1,360 sqft · $158 · 0.3 mi | $215,000 List Price | 3 | 2 | 1,360 | $158 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1970, the property shows some cosmetic updates like newer vinyl plank flooring, but the kitchen cabinetry and tiled bathrooms appear dated (likely >20 years old). The presence of popcorn ceilings and older fixtures indicates the home needs minor repairs and modernization to meet current standards.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Location
Situated in the highly desirable Southwest Bakersfield area, this property offers excellent proximity to major shopping centers, diverse dining options, and local schools.
- Spacious Open-Concept Layout
At 1,332 square feet, the condo features a generous open-concept floor plan with a cozy fireplace and a private primary suite, offering more living space than many comparable two-bedroom units.
- Turnkey Potential
The home is well-maintained and will be delivered vacant at the close of escrow, providing a seamless transition for first-time homebuyers or investors looking for immediate rental income.
CONSRISKS & DEFICIENCIES
- Extended Days on Market
With 153 days on the market, the property has significantly exceeded the average selling time for the area, which may suggest a pricing misalignment relative to current market demand.
- Vintage Construction
Built in 1970, the property may require updates to its original systems or aesthetic finishes to meet the modern standards and energy efficiency expectations of today's buyers.
About 5205 Gorham Way
Welcome to this charming condo in desirable Southwest Bakersfield, conveniently located near shopping, dining, and schools. This well-maintained home features 2 bedrooms and 2 bathrooms, including a private primary suite with its own bathroom and generous storage throughout. The spacious living area offers a cozy fireplace and an open-concept floor plan, creating a comfortable flow for everyday living and entertaining. An excellent opportunity for first-time homebuyers, downsizers, or investors seeking a great value. Home will be delivered vacant at close of escrow. Don t miss this opportunity to make it your own!
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1970
- Lot Size
- -
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $270 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 4.0 |
| Baths | 2.0 | 3.0 |
| Square foot | 1,332 | 1,983 |
| Lot Size | - | 5,227 |
| Price | $290.0K | $400.0K |
| Price per sq ft | $218 | $202 |
| Built year | 1970 | 1999 |
| HOA | $270 | $342 |
| Days on market | 154 | 157 |
Pricing History
Listed for Sale
May 23, 2026
$290,000
Initial Listing
Sold
Sep 19, 2024
$270,000
Public Record
Sold
Jun 17, 2022
$198,000
Public Record
Sold
Aug 21, 2014
$20,500
Public Record