713 Iris, Bakersfield, CA 93308, Bakersfield, 93308 - 0 bed, 0 bath
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Bakersfield, CA 93308
This triplex presents a High-Potential Investment Opportunity with a List Price of $449,900—positioned well below the $534,978 Fair Market Value by 15%. This valuation gap offers $85,078 in Instant Equity for investors. While the property holds a Fair Condition Rating and requires modernization of aging infrastructure, the fully tenant-occupied status ensures immediate cash flow. With no association fees and a desirable 2-bedroom unit mix, this is a value-add asset ideal for Buy-and-Hold Investors or Portfolio Managers seeking stable rental demand.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 713 Iris Subject | $449,900* List Price | 0 | 0 | 2,407 | $208 | - |
A 303 El Tejon Sold | $397,000 | 0 | 0 | 1,848 | $215 | 0.6 mi |
B 326 Beardsley Avenue Active | $419,000 List Price | 0 | 0 | 2,168 | $193 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1963, the property is significantly dated. The kitchen features cabinetry, flooring, and appliances that appear to be 30+ years old. While the units are functional and tenant-occupied, the property requires comprehensive cosmetic updates and likely modernization of electrical/HVAC systems to meet current market standards.
The property is fully tenant-occupied across all three units, offering investors immediate cash flow and a turnkey addition to their rental portfolio.
Each unit features a 2-bedroom, 1-bathroom layout, which is a highly marketable configuration that attracts a stable and diverse tenant base in the Bakersfield area.
With no monthly association fees, the property allows for a higher net operating income (NOI) by eliminating common overhead costs found in managed complexes.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6425, other record lot size in square feet = 6534.
Built in 1963, the property may require more frequent maintenance or capital improvements to aging systems such as plumbing and electrical compared to modern builds.
The current list price represents a significant increase over the most recent sale price of $390,000, which may impact the initial capitalization rate for new investors.
Great investment opportunity! This triplex features three units, each offering 2 bedrooms and 1 bathroom. All units are tenant occupied, providing immediate rental income. Ideal for investors looking to expand their portfolio, income-producing property.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 2,407 | - |
| Lot Size | 6,425 | - |
| Price | $449.9K | $549.6K |
| Price per sq ft | $187 | $176 |
| Built year | 1963 | 0 |
| HOA | $0 | $0 |
| Days on market | 35 | 79 |
Jun 17, 2026
$449,900
Initial Listing
Jun 25, 2024
$390,000
Public Record
Oct 6, 2020
$190,000
Public Record
Apr 9, 2004
$194,500
Public Record