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515 Wilson Ave - 515 Wilson Ave 2 Unit Apartment Building Offered at $315,000 at a 8.09% Cap Rate Bakersfield, CA 93308
Investment Highlights
- Long-term tenants who have kept the property in excellent condition
- Fully fenced, private rear one-bedroom with its own driveway
- Long tandem-parking driveways serve both residences
- Large, remodeled basement in the main house
- Hold as investment or convert to owner-occupied
- Central Oildale location, easy access to Hwy 99 & N. Chester Ave
Executive Summary
515 Wilson Ave is a two-residence investment opportunity in Oildale, Bakersfield, offered at $315,000. The property consists of a main house and a fully independent rear one-bedroom residence, both currently occupied.
Main House: Originally built in 1930 as a 2-bedroom, 1-bathroom residence per Kern County Assessor records (980 SF). The current owner completed several modifications, including converting the original front porch into an enclosed interior living space, and adding a third bedroom with a small en-suite bathroom off the dining room. These additions expand the home's functional living space beyond its assessor-recorded footprint.
Rear One-Bedroom: A separate, fully fenced residence was constructed at the rear of the lot, built from the ground up without permits and not reflected in County Assessor records. This unit includes its own kitchen, bedroom, and en-suite bathroom, and is completely independent from the main house — separate entrance, separate fencing, and its own private driveway for tandem parking.
Both residences are currently occupied. All income and expense figures reflected in this listing are proforma estimates.
Buyer and buyer's agent are responsible for independently verifying square footage, permit status, unit legality, zoning compliance, and all other information prior to submitting an offer. Property sold as-is.
Main House: Originally built in 1930 as a 2-bedroom, 1-bathroom residence per Kern County Assessor records (980 SF). The current owner completed several modifications, including converting the original front porch into an enclosed interior living space, and adding a third bedroom with a small en-suite bathroom off the dining room. These additions expand the home's functional living space beyond its assessor-recorded footprint.
Rear One-Bedroom: A separate, fully fenced residence was constructed at the rear of the lot, built from the ground up without permits and not reflected in County Assessor records. This unit includes its own kitchen, bedroom, and en-suite bathroom, and is completely independent from the main house — separate entrance, separate fencing, and its own private driveway for tandem parking.
Both residences are currently occupied. All income and expense figures reflected in this listing are proforma estimates.
Buyer and buyer's agent are responsible for independently verifying square footage, permit status, unit legality, zoning compliance, and all other information prior to submitting an offer. Property sold as-is.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$31,200
|
$31.84
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$31,200
|
$31.84
|
| Taxes |
$4,820
|
$4.92
|
| Operating Expenses |
$882
|
$0.90
|
| Total Expenses |
$5,702
|
$5.82
|
| Net Operating Income |
$25,498
|
$26.02
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $31,200 |
| Annual Per SF | $31.84 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $31,200 |
| Annual Per SF | $31.84 |
| Taxes | |
|---|---|
| Annual | $4,820 |
| Annual Per SF | $4.92 |
| Operating Expenses | |
|---|---|
| Annual | $882 |
| Annual Per SF | $0.90 |
| Total Expenses | |
|---|---|
| Annual | $5,702 |
| Annual Per SF | $5.82 |
| Net Operating Income | |
|---|---|
| Annual | $25,498 |
| Annual Per SF | $26.02 |
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 1 | $1,500 | 980 |
| 1+1 | 1 | $1,100 | - |
1 1
Fairly walkable
40/100
Very drivable
80/100
Limited public transit
30/100
Moderately bikeable
60/100
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515 Wilson Ave - 515 Wilson Ave