1612 1st Street, Bakersfield, CA 93304

Property Description

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.