607 Oildale Drive, Bakersfield, CA 93308, Bakersfield, 93308 - 4 bed, 0 bath
Loading property details...
607 Oildale Drive
Bakersfield, CA 93308
ACTIVE
CONDITION: POOR
4Beds
0Baths
1,382Sq Ft
7,405Lot Size
Property Price
LIST PRICE$300,000
EST. MARKET VALUE
$302,417
SUMMARY
This multi-unit property presents a High-Potential Investment Opportunity with a List Price of $300,000—positioned well below the $302,417 Fair Market Value by 0.8%. This valuation gap offers $2,417 in Instant Equity. Featuring three distinct living spaces with updated HVAC and roofing, the property provides immediate cash flow from existing tenants. Given the Condition Rating of 5, the asset requires a comprehensive rehab to maximize long-term yield. This is an ideal acquisition for Buy-and-Hold Investors or Value-Add Developers seeking rental portfolio expansion.
Estimated Market Value
$302,417
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 |
|---|---|---|---|---|---|---|
★ 607 Oildale Drive Subject 4 bd · 0 ba · 1,382 sqft · $219 | $300,000* List Price | 4 | 0 | 1,382 | $219 | - |
A 309 Wilson Active 0 bd · 0 ba · 1,362 sqft · $242 · 0.4 mi | $330,000 List Price | 0 | 0 | 1,362 | $242 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Poor
TeardownExcellent
Property is extensive renovation needed.
Built in 1939, this property shows significant deferred maintenance and exterior deterioration, including failing siding and unfinished plywood additions. While the listing notes newer HVAC systems and a newer roof, the overall age and visible condition of the structures indicate a need for a comprehensive rehab rather than minor repairs.
PROSSTRENGTHS & OPPORTUNITIES
- Multi-Unit Income Potential
The property features three separate living units—a 2-bedroom main house, a 2-bedroom rear house, and a studio—offering significant rental versatility and high yield potential.
- Recent Capital Improvements
Key systems have been updated, including a newer roof and air conditioning for the main house, as well as modern mini-split systems for the rear units, reducing immediate maintenance costs.
- Immediate Cash Flow
With two of the rear living spaces already tenant-occupied, investors can benefit from an established income stream starting from the day of purchase.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1382, other record living area = 1326. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 2.
- Vintage Infrastructure
Built in 1939, the property may require additional oversight or future upgrades to older plumbing and electrical systems common in homes of this era.
- Low School Ratings
The majority of the assigned local schools have low performance ratings (ranging from 1 to 4), which may limit the property's appeal to families with school-aged children.
About 607 Oildale Drive
Investor's Delight! Multi-Unit Property with Income Potential in Bakersfield.Calling all investors and real estate visionaries! This unique multi-unit property presents an exciting opportunity to own an income-producing property with three separate living spaces and excellent investment potential.The property features a main house with 2 bedrooms and 1 bathroom, complete with a newer roof and newer air conditioning system. In the back, you'll find a second 2-bedroom, 1-bathroom home equipped with a newer mini-split system, along with a separate studio featuring its own mini-split system.Two of the rear living spaces are currently tenant-occupied, offering an opportunity for rental income from day one. With multiple living spaces on one property, this is an appealing opportunity for investors looking to expand their rental portfolio, explore long-term income potential, or add value through future improvements.Whether you're an experienced investor or looking for your next real estate opportunity, this property offers versatility, multiple rental possibilities, and plenty of potential to make it your own.Bring your vision and unlock the possibilities! Properties with multiple living spaces like this are worth a closer look.
Property Details
Public Facts
- Property Type
- Residential Income
- Year Built
- 1939
- Lot Size
- 7,405 Sq. Ft.
Interior
- Total Bedrooms
- 4
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Bakersfield Unified Schools
Beardsley Elementary School
Grades K-6 • 0.7 mi
1/10
Standard Elementary School
Grades K-5 • 0.7 mi
2/10
North Beardsley Elementary School
Grades K-6 • 0.8 mi
3/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 7.5 |
| Baths | 0.0 | 4.0 |
| Square foot | 1,382 | 3,050.111 |
| Lot Size | 7,405 | 8,743.333 |
| Price | $300.0K | $480.4K |
| Price per sq ft | $217 | $188 |
| Built year | 1939 | 1966 |
| HOA | $0 | $0 |
| Days on market | 10 | 84 |
Pricing History
Listed for Sale
Oct 14, 2026
$300,000
Initial Listing
Sold
Nov 12, 2024
$210,000
Public Record
Sold
Mar 19, 1999
$60,000
Public Record