618 Lincoln Avenue, Bakersfield, CA 93308, Bakersfield, 93308 - 5 bed, 2 bath
ACTIVE$300,000$1,419/sqft
618 Lincoln Avenue, Bakersfield, CA 93308
5Beds
2Baths
1,419Sqft
6,510Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Strong Income Potential: The property is explicitly marketed for passive income, boasting a current monthly rent of $2,750, making it highly attractive for investors seeking immediate cash flow.
Top Cons:
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 1419, other record living area = 1148. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 5, other record bedroom count = 2.
Compared to the nearby listings
Price:$300.0K vs avg $288.0K (+$12,000)50%
Size:1,419 sqft vs avg 1,636.5 sqft50%
Price/sqft:$211 vs avg $18050%
More Insights
Built in 1939 (87 years old).
Condition: Built in 1939, the property has received some recent cosmetic updates like new laminate/tile flooring and fresh paint, making it functional and clean. However, both kitchens are significantly dated with older cabinets, countertops (tile in the front unit, laminate in the back), and basic appliances. The bathrooms are also dated in style, though clean and functional, with one featuring a newer tub/shower insert. While move-in ready for tenants, the property requires minor updates to modernize the kitchens and bathrooms, and given its age, major systems may be outdated or nearing the end of their lifespan.
Year Built
1939
Close
-
List price
$300K
Original List price
-
Price/Sqft
$211
HOA
$0
Days on market
-
Sold On
-
MLS number
TR25102281
Home ConditionFair
Features
View-
About this home
Unlock Passive Income with This Prime Rental Property! Perfect for investors seeking passive income and long-term growth! With a monthly rent of $2,750, this gem is perfect for seasoned investors or newcomers. Two separate homes on one parcel. Laminate floors throughout both units. Laundry room. Spacious private yard and front porch with driveway. Front unit has 3 bedrooms, 1 bath and the back unit is 1 bedroom, 1 bath, covered patio, and garage/storage area 264sqft. Potential to convert garage into ADU in future for more cash flow.
S
Sameena Ali
Listing Agent
Nearby schools
3/10
North Beardsley Elementary School
Public,•K-6•0.5mi
3/10
Wingland Elementary School
Public,•K-5•0.8mi
2/10
Standard Elementary School
Public,•K-5•0.8mi
4/10
Beardsley Junior High School
Public,•7-8•0.6mi
2/10
Standard Middle School
Public,•6-8•0.7mi
5/10
North High School
Public,•9-12•1.0mi
Price History
Date
Event
Price
11/08/22
Sold
$260,000
12/27/21
Sold
$162,000
02/20/09
Sold
$61,000
09/18/07
Sold
$215,000
Condition Rating
Fair
Built in 1939, the property has received some recent cosmetic updates like new laminate/tile flooring and fresh paint, making it functional and clean. However, both kitchens are significantly dated with older cabinets, countertops (tile in the front unit, laminate in the back), and basic appliances. The bathrooms are also dated in style, though clean and functional, with one featuring a newer tub/shower insert. While move-in ready for tenants, the property requires minor updates to modernize the kitchens and bathrooms, and given its age, major systems may be outdated or nearing the end of their lifespan.
Pros & Cons
Pros
Strong Income Potential: The property is explicitly marketed for passive income, boasting a current monthly rent of $2,750, making it highly attractive for investors seeking immediate cash flow.
Multi-Unit Configuration: Comprising two separate homes on one parcel (a 3-bedroom, 1-bath unit and a 1-bedroom, 1-bath unit), this property offers diversified rental income streams or the flexibility for owner-occupancy with supplemental income.
Future ADU Potential: The existing garage/storage area (264 sqft) presents a clear opportunity for future conversion into an Additional Dwelling Unit (ADU), promising increased cash flow and enhanced property value.
Recent Property Appreciation: The sales history indicates significant value growth, with the property selling for $162,000 in 2021 and $260,000 in 2022, suggesting a strong investment trajectory and market demand.
Desirable Tenant Features & No HOA: Both units feature laminate flooring, a dedicated laundry room, a spacious private yard, and a front porch with a driveway. The absence of association fees further enhances profitability for an investor.
Cons
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 1419, other record living area = 1148. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 5, other record bedroom count = 2.
Age of Property & Potential Maintenance: Built in 1939, the property is older, which may entail higher ongoing maintenance costs, potential for outdated systems (plumbing, electrical), and unforeseen repair expenses for an investor.
Sub-Type Inconsistency: Despite being described as 'two separate homes on one parcel,' the property is listed as a 'Townhouse.' This classification discrepancy could lead to confusion for buyers or potential issues with financing and appraisal.
Limited Information on Unit Condition: While laminate floors are mentioned, the description lacks comprehensive details on the overall condition of major systems (e.g., roof, HVAC, windows) or recent significant renovations beyond flooring, which could imply unknown capital expenditures for a new owner.