3416 Terrace Way Bakersfield, CA 93309
Southwest Bakersfield NeighborhoodEstimated payment $7,371/month
Total Views
624
--
Bed
--
Bath
3,084
Sq Ft
$438
Price per Sq Ft
About This Home
Presenting a rare investment opportunity in Southwest Bakersfield: 3408-3416 Terrace Way, a 10-unit multifamily property offered at $1,350,000. This well-maintained asset consists of five duplexes situated on three contiguous lots, built in 1965 and featuring individual garages and a shared swimming pool. The property was recently color coated and painted in 2024, and three of the roofs have been replaced within the last five years, enhancing curb appeal and long-term durability. With current rents ranging from $895 to $1,300, there is immediate income potential and room for growth. Conveniently located west of Highway 99, this property offers cash flow in a desirable Bakersfield submarket.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,476
Year Built
- Built in 1965
Parking
- Uncovered Parking
Interior Spaces
- 3,084 Sq Ft Home
- 1-Story Property
Schools
- Munsey Elementary School
- Curran Middle School
- West High School
Additional Features
- 0.25 Acre Lot
- Central Heating and Cooling System
Listing and Financial Details
- Assessor Parcel Number 14921314
Community Details
Overview
- 10 Units
Building Details
- Gross Income $127,236
- Net Operating Income $68,146
Map
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Home Values in the Area
Average Home Value in this Area
Tax History
| 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 |
|---|---|---|---|---|
| 2024 | $2,476 | $120,669 | $49,687 | $70,982 |
| 2023 | $2,476 | $118,304 | $48,713 | $69,591 |
| 2022 | $2,293 | $115,985 | $47,758 | $68,227 |
| 2021 | $2,132 | $113,712 | $46,822 | $66,890 |
| 2020 | $2,132 | $112,547 | $46,342 | $66,205 |
| 2019 | $2,008 | $112,547 | $46,342 | $66,205 |
| 2018 | $1,939 | $108,179 | $44,544 | $63,635 |
| 2017 | $1,920 | $106,059 | $43,671 | $62,388 |
| 2016 | $1,788 | $103,980 | $42,815 | $61,165 |
| 2015 | $1,787 | $102,419 | $42,172 | $60,247 |
| 2014 | $1,490 | $78,000 | $20,000 | $58,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/23/2025 05/23/25 | For Sale | $1,350,000 | -- | $438 / Sq Ft |
Source: Bakersfield Association of REALTORS® / GEMLS
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Grant Deed | $85,000 | Fidelity National Title Co | |
| Grant Deed | $329,500 | American Title Co | |
| Gift Deed | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $63,750 | No Value Available | |
| Previous Owner | $301,000 | No Value Available |
Source: Public Records
Similar Homes in Bakersfield, CA
Source: Bakersfield Association of REALTORS® / GEMLS
MLS Number: 202505865
APN: 149-213-16-00-3
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Copyright Golden Empire MLS, Inc. 2025.
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