1612 1st St Bakersfield, CA 93304
Oleander-Sunset NeighborhoodEstimated payment $10,442/month
Highlights
- 0.63 Acre Lot
- Wood Flooring
- Cooling System Mounted To A Wall/Window
- Property is near public transit
- Corner Lot
- Laundry Room
About This Home
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.
Listing Agent
THE ASSOCIATES REALTY GROUP Brokerage Phone: 949-343-0202 License #01878752 Listed on: 07/23/2025
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1940
Lot Details
- 0.63 Acre Lot
- 1 Common Wall
- Corner Lot
- 01029010007
Parking
- 8 Car Garage
Home Design
- Property Attached
- Entry on the 1st floor
- Spanish Tile Roof
Interior Spaces
- 12 Bedrooms
- 7,293 Sq Ft Home
- 2-Story Property
- Laundry Room
Flooring
- Wood
- Vinyl
Location
- Property is near public transit
- Suburban Location
Utilities
- Cooling System Mounted To A Wall/Window
- Standard Electricity
Listing and Financial Details
- Tax Lot 0102
- Tax Tract Number 11000
- Assessor Parcel Number 01029011000
Community Details
Overview
- 8 Buildings
- 10 Units
Amenities
- Laundry Facilities
Building Details
- 7 Leased Units
- 11 Separate Electric Meters
- 11 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $1,026
- Insurance Expense $3,647
- Trash Expense $3,360
- Water Sewer Expense $3,000
- Operating Expense $39,971
- Gross Income $141,768
- Net Operating Income $97,544
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/23/2025 07/23/25 | For Sale | $1,650,000 | +37.5% | $226 / Sq Ft |
| 07/22/2022 07/22/22 | Sold | $1,200,000 | 0.0% | $152 / Sq Ft |
| 06/22/2022 06/22/22 | Pending | -- | -- | -- |
| 04/18/2022 04/18/22 | For Sale | $1,200,000 | +38.7% | $152 / Sq Ft |
| 10/08/2020 10/08/20 | Sold | $865,000 | 0.0% | $139 / Sq Ft |
| 09/08/2020 09/08/20 | Pending | -- | -- | -- |
| 07/01/2020 07/01/20 | For Sale | $865,000 | -- | $139 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: IV25164851
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Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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