Investment Opportunity, Only $119,900!Don't miss this affordable investment property with long-term tenants already in place, providing immediate rental income. The current tenants (with an excellent payment history) have occupied the home since September 2020, making this an excellent opportunity for investors seeking steady cash flow. Situated on an R-2 zoned lot, this property offers exciting future potential. The home features 3 rooms (one with a closet), a living room, 1 full bathroom, washer and dryer hookups, a carport, and RV parking. While the home does need repairs, it has been an excellent value with upside potential, conveniently located near shopping centers, schools, churches, and other everyday amenities. Whether you're looking to expand your investment portfolio or capitalize on the property's feature development potential, this is an opportunity you don't want to miss!
Active under contract
$119,900
516 Water St, Bakersfield, CA 93305
1beds
640sqft
Single Family Residence
Built in 1942
6,969 Square Feet Lot
$118,200 Zestimate®
$187/sqft
$-- HOA
What's special
Rv parkingWasher and dryer hookups
- 18 days |
- 282 |
- 7 |
Likely to sell faster than
Zillow last checked:
Listing updated:
Listed by:
Maria Belen Gonzalez DRE #01841674 661-205-4498 belenyourrealtor@gmail.com,
Kathy Kotsiomitis Realty
Source: Bakersfield AOR,MLS#: 202606900
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 1
- Bathrooms: 1
- Full bathrooms: 1
Heating
- Floor/Wall Heater
Features
- Has fireplace: No
Interior area
- Total structure area: 640
- Total interior livable area: 640 sqft
Property
Parking
- Parking features: Carport, RV Access/Parking
- Has carport: Yes
Features
- Levels: One
- Stories: 1
- Pool features: None
Lot
- Size: 6,969 Square Feet
Details
- Parcel number: 12508011
- Zoning: R2
- Zoning description: R2
- Special conditions: Standard
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence
Condition
- Year built: 1942
Community & HOA
Community
- Subdivision: Keith Addition
Location
- Region: Bakersfield
Financial & listing details
- Price per square foot: $187/sqft
- Tax assessed value: $33,296
- Annual tax amount: $1,372
- Date on market: 6/26/2026
- Cumulative days on market: 19 days
Estimated market value
$118,200
$112,000 - $124,000
$1,107/mo
Price history
| Date | Event | Price |
|---|---|---|
| 6/26/2026 | Listed for sale | $119,900+1898.3%$187/sqft |
Source:  Bakersfield AOR #202606900 Report a problem | ||
| 8/10/2010 | Sold | $6,000$9/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $1,372 +3.2% | $33,296 +2% |
| 2024 | $1,329 +3.9% | $32,644 +2% |
| 2023 | $1,279 +6.6% | $32,005 +2% |
| 2022 | $1,200 | $31,379 +2% |
| 2021 | -- | $30,765 +1% |
| 2020 | $1,075 +4.3% | $30,451 |
| 2019 | $1,030 +2.8% | $30,451 +4% |
| 2018 | $1,002 +1.7% | $29,270 +2% |
| 2017 | $985 +17.7% | $28,697 +2% |
| 2016 | $837 +0% | $28,136 +1.5% |
| 2015 | $837 +5.3% | $27,714 +2% |
| 2014 | $795 | $27,172 +0.5% |
| 2013 | -- | $27,050 +2% |
| 2012 | $762 +1% | $26,520 +2% |
| 2011 | $754 +8.2% | $26,000 -0.5% |
| 2010 | $697 -0.1% | $26,129 |
| 2009 | $697 -6.9% | $26,129 -19.3% |
| 2008 | $749 +2.6% | $32,362 +2% |
| 2007 | $730 +4.8% | $31,728 +2% |
| 2006 | $697 +3% | $31,107 +2% |
| 2005 | $676 -7.5% | $30,498 |
| 2004 | $731 +48.5% | $30,498 +148.1% |
| 2003 | $492 | $12,293 +4% |
| 2002 | $492 +1.6% | $11,818 +2% |
| 2001 | $485 | $11,587 |
| 2000 | -- | $11,587 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: 93305
Nearby schools
GreatSchools rating
- 1/10Myra A. Noble Elementary SchoolGrades: K-5Distance: 0.4 mi
- 2/10Washington Middle SchoolGrades: 6-8Distance: 0.6 mi
- 4/10East Bakersfield High SchoolGrades: 9-12Distance: 1.7 mi
Schools provided by the listing agent
- Elementary: Noble, Myra A.
- Middle: Washington
- High: East
Source: Bakersfield AOR. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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