16
See all 16 photos
$1,650,000
Est. payment /mo
0.63 Acres Lot
New
1612 1st street Bakersfield, CA 93304
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Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID IV25165693
HOA Y/N No
Year Built 1940
Lot Size 0.630 Acres
Property Sub-Type Multi Family
Property Description
This charming Spanish-style 10-unit apartment property in Bakersfield presents a rare and beautiful value-add investment opportunity. Theproperty features distinctive Spanish cottage architecture with red-tile roofs, arched entryways, and lush landscaping that exudes curb appeal andtimeless character. Each unit is thoughtfully designed with spacious layouts and classic details that attract quality tenants. With strong in-placecash flow, the investor can enjoy immediate income from a stabilized rental base in a high-demand submarket. What sets this opportunity apart isthe significant upside potential through the conversion of eight detached garages. The investor has the option to create new revenue streams byconverting 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 andlong-term income growth, making it an ideal opportunity for a savvy investor looking to capitalize on both yield and appreciation in a growingCentral Valley market.
Location
State CA
County Kern
Area Bksf - Bakersfield
Interior
Fireplace No
Laundry Common Area
Exterior
Fence Wood
Total Parking Spaces 8
Building
Lot Description 11-15 Units/Acre, Corner Lot
Story 2
Others
Tax ID 01029011000
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Special Listing Condition Standard
Listed by ANTHONY RODRIGUEZ THE ASSOCIATES REALTY GROUP 949-343-0202