940 Water Street Bakersfield, CA ^$ 825,000

940 Water Street

^$ 825,000

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Recently Listed

940 Water Street

Bakersfield, CA, 93305

^$ 825,000

Studio Baths0.0 Sq 5,059

Monthly Estimate*

^$ 5,080

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Studio

Multi-Family Home for sale in Bakersfield, CA

for $825,000. This 5,059 square foot home was built in 1958.

Located at 940 Water Street in Bakersfield, CA 93305, this well-maintained 8-unit multifamily property offers a compelling investment opportunity with a desirable unit mix of (6) one-bedroom/one-bath units and (2) two-bedroom/one-bath units. The property has undergone major recent capital improvements, including a brand new roof and a freshly redone exterior, significantly enhancing curb appeal and reducing near-term maintenance costs. With strong potential to increase value through rental income growth, this asset provides investors an opportunity to improve cash flow and overall returns while owning a stabilized property in Bakersfield.

Multi-Family Active

Price

^$ 825,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

^$ 0

Style

5 - 10 Units

Year Built

1958

Town/City

Bakersfield

County/Region

Kern

MLS | Web ID

202600369

Features

Exterior

Parking Features Carport

Garages 0

Parking 4.00

Lot Size Source (Public Record)

General

Year Built 1958

Neighborhood Jefferson Park

Stories Count 2

Property Subtype 5 - 10 Units

Gross Income 84516.00

County Kern

Net Operating Income 48952.00

Property Type Residential Income

Close Price 0.00

Status Active

High School East

City Bakersfield

Disclosures None of the Above

Number Of Units Total 8

MLS Area 31

Lot Size Units SqFt

Lot Size Square Feet 12196.00

Elementary School Noble Myra A.

Middle/Junior High School Washington

Cap Rate 0.06

Internal Only

Street Number 1 940

* Excluded Features

List By

Eric VanDenk

Listing Agent

Central Valley Property Adviso

Broker

eric@centralvalleypropertyadvisors.com

Affordability Calculator

$5,080

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Monthly Principal & Interest: $5,080
Monthly Property Taxes: --
Monthly Home Insurance: --

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Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Multi-family listings in Bakersfield, CA

Average List Price ^$707,724

Percent of Sale Price 14%

About Bakersfield, CA

383,374 Population

50% Since 2002

^$58,566 Median Income

32.94 Median Age

40% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

5266495 Elementary School

5235827 Middle School

East High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
1/10/2026	$825,000		Listed Price

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940 Water Street, Bakersfield, CA, 93305 is a Multi-Family Home for sale at $825,000 with 5,059 sqft. 940 Water Street is a studio with 0.0 baths and was built in 1958. The property's zip code is 93305 which is in Bakersfield, CA

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

The data relating to real estate for sale on this web site comes in part from the Golden Empire MLS IDX Database. Real estate listings held by brokerage firms other than Weichert Realtors include the name of the listing broker.

The information being provided is for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Based on information from Golden Empire MLS, Inc., as of 1/11/2026. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

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940 Water Street

Multi-Family Home for sale in Bakersfield, CA

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