1612 1st St Bakersfield, CA 93304
Oleander-Sunset NeighborhoodEstimated payment $10,187/month
Highlights
- 0.63 Acre Lot
- Wood Flooring
- Laundry Facilities
- Property is near public transit
- Corner Lot
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: 01/28/2026
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1940
Lot Details
- 27,442 Sq Ft 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
- 7,293 Sq Ft Home
- 2-Story Property
Flooring
- Wood
- Vinyl
Bedrooms and Bathrooms
- 13 Bedrooms
- 10 Bathrooms
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
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2026 | $16,718 | $1,231,000 | $196,323 | $1,034,677 |
| 2025 | $16,718 | $1,206,864 | $192,474 | $1,014,390 |
| 2024 | $16,510 | $1,183,200 | $188,700 | $994,500 |
| 2023 | $16,164 | $1,160,000 | $185,000 | $975,000 |
| 2022 | $9,986 | $643,620 | $64,260 | $579,360 |
| 2021 | $9,523 | $631,000 | $63,000 | $568,000 |
| 2020 | $5,968 | $343,156 | $60,042 | $283,114 |
| 2019 | $5,884 | $343,156 | $60,042 | $283,114 |
| 2018 | $5,782 | $329,832 | $57,711 | $272,121 |
| 2017 | $5,769 | $323,366 | $56,580 | $266,786 |
| 2016 | $5,367 | $317,026 | $55,471 | $261,555 |
| 2015 | $4,513 | $240,000 | $40,000 | $200,000 |
| 2014 | $4,445 | $240,000 | $40,000 | $200,000 |
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 04/28/2026 04/28/26 | Pending | -- | -- | -- | |
| 01/28/2026 01/28/26 | For Sale | $1,600,000 | +33.3% | $219 / Sq Ft | |
| 07/22/2022 07/22/22 | Sold | $1,200,000 | 0.0% | $152 / Sq Ft | View Prior Sale |
| 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 | View Prior Sale |
| 09/08/2020 09/08/20 | Pending | -- | -- | -- | |
| 07/01/2020 07/01/20 | For Sale | $865,000 | -- | $139 / Sq Ft |
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Grant Deed | -- | Title Connect | |
| Grant Deed | $865,000 | Chicago Title Company | |
| Interfamily Deed Transfer | -- | -- |
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $968,000 | New Conventional | |
| Previous Owner | $588,200 | Commercial |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: IV26020349
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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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