708 P Street, Bakersfield, CA 93304, Bakersfield, 93304 - 6 bed, 3 bath
Loading property details...
Bakersfield, CA 93304
This triplex presents a High-Potential Investment Opportunity with a List Price of $500,000—positioned above the $457,674 Fair Market Value by 9%. While the property requires capital for updates due to its Condition Rating of 4, the three-unit configuration on a single parcel provides significant rental yield potential. With Zero Association Fees and a central location near major commuter routes, this asset is well-suited for Buy-and-Hold Investors or Value-Add Developers looking to optimize cash flow in an established Bakersfield neighborhood.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 708 P Street Subject | $500,000* List Price | 6 | 3 | 2,160 | $212 | - |
A 130 8th Street Active | $395,000 List Price | 0 | 0 | 2,187 | $181 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1983 (41 years old) with no mention of recent renovations to kitchens, baths, or major systems. While the exterior appears functional, the property is dated and likely requires cosmetic updates and minor repairs consistent with its age to maximize rental potential.
As a triplex featuring three units on a single parcel, this property offers excellent versatility for investors to maximize rental yield and diversify their portfolio.
Conveniently situated in the heart of Bakersfield near major commuter routes, shopping, and dining, the property ensures high tenant demand and easy accessibility.
The absence of an HOA fee reduces monthly overhead costs, allowing for better net operating income and fewer restrictive covenants for the owner.
The local elementary and middle schools carry low ratings (3/10 and 2/10), which may deter long-term family tenants and impact future appreciation.
With three units situated on a 5,626 sqft lot, the property may have limited outdoor space and parking, potentially affecting tenant privacy and convenience.
Excellent investment opportunity in the heart of Bakersfield!Featuring three units on one parcel, this property offers versatilityfor investors looking to add to their portfolio. Conveniently situated near shopping, dining, schools, and major commuterroutes, the location provides easy access to everyday amenities. Whether you're seeking a long-term investment or looking toexpand your real estate holdings, this multifamily property offers plenty of potential in an established neighborhood. Don'tmiss the chance to own a well-positioned income property in a growing market.
No exterior & parking available.
Grades K-6 • 0.3 mi
Grades K-5 • 1.1 mi
Grades 6-8 • 0.2 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 6.0 | 0.0 |
| Baths | 3.0 | 0.0 |
| Square foot | 2,160 | - |
| Lot Size | 5,626 | - |
| Price | $500.0K | $549.6K |
| Price per sq ft | $231 | $176 |
| Built year | 1983 | 0 |
| HOA | $0 | $0 |
| Days on market | 28 | 79 |
Jun 25, 2026
$500,000
Initial Listing
Aug 29, 2003
$99,000
Public Record