710 N Chester Avenue, Bakersfield, CA 93308, Bakersfield, 93308 - bed, bath
ACTIVE$713,999$4,950/sqft
710 N Chester Avenue, Bakersfield, CA 93308
0Bed
0Bath
4,950Sqft
21,343Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 21343, living area = 4950.
Top Cons:
Month-to-Month Tenancy: All tenants are on month-to-month agreements, which could lead to higher vacancy risk and less stable income compared to long-term leases.
Compared to the nearby listings
Price:$714.0K vs avg $309.0K (+$404,999)96%
Size:4,950 sqft vs avg 1,413 sqft96%
Price/sqft:$144 vs avg $21023%
More Insights
Built in 1979 (47 years old).
Condition: The property was built in 1979, making it 45 years old. While the listing states that 2 of the 6 units have been 'completely remodeled' with modern kitchens (stainless steel appliances, updated cabinets, granite-look countertops, wood-look tile flooring) and updated bathrooms (new vanity, mirror), the majority of the units (4 out of 6) are likely in an older, un-remodeled state. The exterior appears dated but maintained. The property benefits from central air/heating and is described as 'well maintained,' but the overall age and partial modernization place it in the 'Fair' category, indicating it's aged but maintained with some updates, and other units may require minor to moderate updates.
Year Built
1979
Close
-
List price
$714K
Original List price
-
Price/Sqft
$144
HOA
$0
Days on market
-
Sold On
-
MLS number
DW25123838
Home ConditionFair
Features
View-
About this home
BEST DEAL IN TOWN !!!! FANTASTIC INVESTEMENT IN BAKERSFIED , TAKE ADVANTANGE OF THIS UNIQUE CHANCE TO OWN SIX FULLY OCCUPIED UNITS OFFERING STEADY INCOME, CONVENIENTLY LOCATED CONSISTING OF 3 BUILDINGS TWO BEDROONS EACH, WELL MAINTAINED PROPERTY WITH 2 OF THE UNITS COMPLETLY REMODELED, INSIDE WASHER/DRYER HOOKPS, CENTRAL AIR/HEATING . SITUADED IN HALF AN ACRE LOT OFFERING TENANTS 14 PARKING SPACES AND EACH UNIT WITH IT'S OWN PRIVATE YARD. ALL TENANTS ARE MONTH TO MONTH
E
Evelyn Waidhofer
Listing Agent
Price History
Date
Event
Price
10/14/22
Sold
$600,000
Condition Rating
Fair
The property was built in 1979, making it 45 years old. While the listing states that 2 of the 6 units have been 'completely remodeled' with modern kitchens (stainless steel appliances, updated cabinets, granite-look countertops, wood-look tile flooring) and updated bathrooms (new vanity, mirror), the majority of the units (4 out of 6) are likely in an older, un-remodeled state. The exterior appears dated but maintained. The property benefits from central air/heating and is described as 'well maintained,' but the overall age and partial modernization place it in the 'Fair' category, indicating it's aged but maintained with some updates, and other units may require minor to moderate updates.
Pros & Cons
Pros
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 21343, living area = 4950.
Steady Income Stream: Six fully occupied units ensure immediate and consistent rental income, making it an attractive investment opportunity.
Multi-Unit Investment: Comprising six units across three buildings, this property offers diversified income streams and scalability for investors.
Enhanced Tenant Comfort: Units feature central air/heating, in-unit washer/dryer hookups, and private yards, significantly boosting tenant appeal and retention.
Recent Unit Upgrades: Two of the six units have been completely remodeled, contributing to higher rental value and modern appeal within the property.
Ample Space & Parking: Situated on a half-acre lot with 14 dedicated parking spaces, providing significant convenience for tenants and potential for future use.
Cons
Month-to-Month Tenancy: All tenants are on month-to-month agreements, which could lead to higher vacancy risk and less stable income compared to long-term leases.
Partial Modernization: While two units are remodeled, the remaining four units, in a 1979-built property, may require significant updates to maximize rental potential and tenant satisfaction.
Inaccurate Property Classification: The listing incorrectly identifies the property as a 'Single Family Residence' instead of a multi-family or income property, which could complicate financing and appraisal processes.