NOT LISTED FOR SALE

510 Lake St Bakersfield, CA 93305

East Bakersfield Neighborhood
-- Bed
-- Bath
4,608 Sq Ft
7,405 Sq Ft Lot

Last Sold March 22, 2024

Last sale price $540,000 $117 Per Sq Ft

3 Days on Market

About This Home

As of March 2024

510 Lake Street- Experience an incredible investment opportunity at 510 Lake Street, Bakersfield, CA, where six bread and butter 2-bedroom/1-bath units await in this property constructed in 1979. Priced attractively at $600,000, each unit costs only $100,000, making it an exceptional deal. With a Gross Rent Multiplier of 9.81, this property promises solid returns, reflecting its potential for lucrative rental income. Don't miss out on this chance to secure a profitable asset in a desirable location. Three units have immediate rent upside.

Last Agent to Sell the Property

Marc Thurston

ASU Commercial License #1099353 Listed on: 02/26/2024

Last Buyer's Agent

Marc Thurston

ASU Commercial License #1099353 Listed on: 02/26/2024

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1979

Lot Details

  • 7,405

Parking

  • Uncovered Parking

Home Design

  • Composition Roof

Interior Spaces

  • 4,608 Sq Ft Home
  • 2-Story Property

Schools

  • Longfellow Elementary School
  • Washington Middle School
  • Bakersfield High School

Additional Features

  • 7,405 Sq Ft Lot
  • Central Heating and Cooling System

Listing and Financial Details

  • Assessor Parcel Number 01415013

Community Details

Overview

  • 6 Units
  • Town Of Kern Subdivision

Building Details

  • Gross Income $61,164
  • Net Operating Income $31,429

Property Details

Home Type

Multi-Family

Year Built

Built in 1979

Lot Details

0

Listing Details

  • Prop. Type: Residential Income
  • Year Built: 1979
  • Building Stories: 2
  • Deposit Amount Required: 7500.00
  • Property Sub Type: 5 - 10 Units
  • Lot Size Acres: 0.1700
  • Special Features: None
  • Stories: 2

Interior Features

  • Living Area: 4608.00

Exterior Features

  • Roof: Composition
  • Disclosures: None of the Above

Garage/Parking

  • Parking Features: Uncovered

Utilities

  • Heatcool: Central AC, Central Heat

Schools

  • High School: Bakersfield
  • Middle Or Junior School: Washington

Lot Info

  • Zoning Description: R2
  • Lot Size Sq Ft: 7405.00
  • Parcel #: 01415013

Multi Family

  • Total Annual Expense: 27900.00
  • Vacancy Factor: 3.00
  • Number Of Units Total: 6
  • Existing Lease Type: Net
  • Annual Gross Income: 61164.00
  • Property Net Operating Income: 31429.00

MLS Schools

  • Elementary School: Longfellow

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/22/2024 03/22/24 Sold $540,000 -10.0% $117 / Sq Ft
02/29/2024 02/29/24 Pending -- -- --
02/26/2024 02/26/24 For Sale $600,000 -- $130 / Sq Ft
Source: Bakersfield Association of REALTORS® / GEMLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Marc Thurston

    Seller's Agent in 2024

    Marc Thurston

    ASU Commercial

    (661) 862-5454

    7 in this area

    86 Total Sales

    Marc Thurston
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Map

Source: Bakersfield Association of REALTORS® / GEMLS

MLS Number: 202401804

Bakersfield Association of REALTORS® / GEMLS

California Kern County Bakersfield 93305 East Bakersfield

510 Lake St, Bakersfield, CA

This home is located at 510 Lake St, Bakersfield, CA 93305 since 26 February 2024. This property was built in 1979. 510 Lake St is a home located in Kern County with nearby schools including Longfellow Elementary School, Washington Middle School, and Bakersfield High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Bakersfield Association of REALTORS® / GEMLS Information is deemed reliable but not guaranteed.
Copyright Golden Empire MLS, Inc. 2025.

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