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Listed by ANTHONY RODRIGUEZ • THE ASSOCIATES REALTY GROUP
$ 1,600,000
Est. payment /mo
Pending
1612 1st Street Bakersfield, CA 93304
7,293 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Commercial/Residential
Listing Status Pending
Purchase Type For Sale
Square Footage 7,293 sqft
Price per Sqft $219
MLS Listing ID IV-26020349
Year Built 1940
Lot Size 0.630 Acres
Property Sub-Type Commercial/Residential
Source California Regional Multiple Listing Service (CRMLS)
Property Description
This charming Spanish-style 10-unit apartment
property in Bakersfield presents a rare and beautiful
value-add investment opportunity. The property
features distinctive Spanish cottage architecture with
red-tile roofs, arched entryways, and lush landscaping
that exudes curb appeal and timeless character. Each
unit is thoughtfully designed with spacious layouts and
classic details that attract quality tenants. With strong
in-place cash flow, the investor can enjoy immediate
income from a stabilized rental base in a high-demand
submarket.
What sets this opportunity apart is the significant
upside potential through the conversion of eight
detached garages. The investor has the option to create
new revenue streams by converting the garages into
rentable accessory dwelling units (ADUs), tapping into
the growing demand for affordable housing in
Bakersfield. Alternatively, the garages can be leased as
storage units for additional monthly income. This
flexible value-add strategy offers both immediate and
long-term income growth, making it an ideal opportunity
for a savvy investor looking to capitalize on both yield
and appreciation in a growing Central Valley market.
property in Bakersfield presents a rare and beautiful
value-add investment opportunity. The property
features distinctive Spanish cottage architecture with
red-tile roofs, arched entryways, and lush landscaping
that exudes curb appeal and timeless character. Each
unit is thoughtfully designed with spacious layouts and
classic details that attract quality tenants. With strong
in-place cash flow, the investor can enjoy immediate
income from a stabilized rental base in a high-demand
submarket.
What sets this opportunity apart is the significant
upside potential through the conversion of eight
detached garages. The investor has the option to create
new revenue streams by converting the garages into
rentable accessory dwelling units (ADUs), tapping into
the growing demand for affordable housing in
Bakersfield. Alternatively, the garages can be leased as
storage units for additional monthly income. This
flexible value-add strategy offers both immediate and
long-term income growth, making it an ideal opportunity
for a savvy investor looking to capitalize on both yield
and appreciation in a growing Central Valley market.
Location
State CA
County Kern
Area Bksf - Bakersfield
Interior
Flooring Vinyl, Wood
Laundry Community
Exterior
Garage Spaces 8.0
Pool None
Community Features Suburban
View Y/N No
View None
Building
Lot Description Corner Lot, Near Public Transit
Sewer Public Sewer