MLS # Pending — Active 09/03/2026
Offering Memorandum · Renovated Home + Permitted ADU · Bakersfield
1507 Pearl St
Bakersfield, California 93305
Asking Price: $299,000
1507 Pearl St exterior
2
Homes, One Lot
4
Total Bedrooms
1,494
Combined SF
7,405
SF Lot
Property Overview

A Fully Renovated Home with a Permitted ADU

1507 Pearl St pairs a beautifully remodeled 2-bedroom, 1-bath main home with a permitted ADU at the rear of the lot — each with its own private entrance, yard, and in-unit laundry. The front home has been thoughtfully updated throughout, from a brand-new kitchen with farmhouse sink and fresh tile work to a fully refreshed bathroom. The ADU offers two bedrooms, a galley kitchen, and true independence from the main home — ideal for extended family, guests, or rental flexibility, with the added confidence of permitted status.

Front home fully remodeled — new kitchen, farmhouse sink, fresh tile
Updated bathroom with new tile and vanity in the main home
Indoor laundry room with hookups in both residences
Permitted ADU — 2 bedrooms, galley kitchen, own paved yard and private entrance
Tandem parking plus a large gated front yard
Backyard fully gated and separate from the ADU — privacy for both homes
Property Details

Physical & Legal Summary

Address1507 Pearl St, Bakersfield, CA 93305
Asking Price$299,000
APN128-090-30-00-5
ZoningR-1
Property Type2 Homes on 1 Lot — Front House + Permitted ADU
Front Home2 Bed / 1 Bath, ~914 SF, Built 1940 — fully remodeled
Rear ADU2 Bed / 1 Bath, ~580 SF, Built 1942 — Permitted
Combined Building Area1,494 SF (per Kern County Assessor)
Lot Size7,405 SF (0.17 acres)
ParkingTandem parking, gated front yard
Property Highlights

Why This Property Works

Two ways to live here: Move into the fully remodeled front home and use the permitted ADU for extended family, guests, or rental income — or explore the flexibility of two separate living spaces on one lot. Same property, options to fit different buyers.
Investment Potential

What This Property Could Earn

1507 Pearl St is not currently rented. Estimates below are based on comparable 2-bedroom rentals in the 93305 area.

UnitTypeEst. Monthly RentEst. Annual Rent
Front Home2BD / 1BA, ~914 SF, Remodeled$1,650$19,800
Rear ADU2BD / 1BA, ~580 SF$1,250$15,000
Combined Estimated Potential$2,900 / mo$34,800

Based on comparable 2-bedroom rentals in 93305, including 1431 Pearl St (850 SF, $1,750/mo — same street). Estimates only; not a representation of actual or guaranteed income.

Paid solar, low bills. Solar is paid in full. Sellers report electric bills of just $70–$100/month for 8 months of the year, with 4 months at $0. Water runs $30–$50/month. For an investor splitting utilities across two tenants on the property's single meter, that's a small amount to divide.
Pro Forma Financial Summary

Annual Income & Expense Analysis

Gross Scheduled Income (Estimate)$34,800
Less: Vacancy Factor (2%, Estimate)($696)
Effective Gross Income (Estimate)$34,104
Operating Expenses (All Estimated / Proforma)
Property Tax (Estimated, reassessed at $299,000 sale price)$5,411
Insurance (Estimated, based on area averages)$1,500
Maintenance (Estimated, 1% of value)$2,990
Landscaping (Estimated, based on area pricing)$1,440
PG&E — Electric & Gas Combined (Estimated, net of solar)$1,880
Water (Estimated)$480
Total Operating Expenses$13,701
Net Operating Income (NOI) — Estimate$20,403
6.82%
Cap Rate (Estimate)
8.59
GRM (Estimate)
$149,500
Price Per Unit
$299,000
Asking Price

All figures in this section are proforma estimates based on area data as of September 2026 — not actual bids, quotes, or historical performance for this property. Property tax is estimated by applying the current combined tax rate for Tax Rate Area 056-063 (1.163785%, per Kern County Treasurer-Tax Collector) to the $299,000 asking price, plus fixed special assessments unaffected by reassessment (Land Use-Landfill, KSA Sewer, CSA22 St Lights, KMVCD Vector, Metro BKFD — $1,931.34 combined); the seller's actual current FY2025-26 tax bill is lower ($4,937.41, paid in full) due to a Prop 13-protected assessed value that resets upon change of ownership. Insurance is estimated at $1,500/year based on published California landlord insurance averages. Maintenance is estimated at $2,990/year using the "1% of property value" rule of thumb. Landscaping is estimated at $1,440/year ($120/month) based on published Bakersfield-area pricing for a lot under 8,000 SF; the current owners perform this work themselves at no cash cost, so this line reflects a market-rate estimate for a buyer who would not self-perform it. PG&E is the sole electric and natural gas provider in Bakersfield and bills both on one combined statement; sellers report $70–$100/month for 8 months of the year with 4 months at $0 (solar credit), plus this year's annual true-up of $1,200, reportedly elevated due to an underperforming component — the prior two years had no true-up at all. Water is estimated at $480/year ($30–$50/month, seller-reported). Utility figures are based on sellers' verbal estimates, not verified bills. A 2% vacancy factor has been applied to Gross Scheduled Income per standard underwriting practice. Property management fees are not included and should be added by the buyer if applicable. Gross Scheduled Income is based on the estimated market rents shown above; the Property is not currently rented and no actual income history exists. Buyers should independently verify and underwrite all figures in this section prior to making an investment decision.

Market Context

Bakersfield, California

1507 Pearl St combines classic 1940s character with a thoughtful, modern renovation — a configuration that's increasingly rare to find in Bakersfield's established neighborhoods. The property offers easy access to the city's central corridor, with the added flexibility of two fully separate residences on a single lot.

A renovated home, a permitted ADU, endless flexibility. Call Phil to see it in person.
Phil Jordan
Phil Jordan
Broker Associate · Jordan Apartment Guys
Keller Williams Bakersfield · PMJ Real Estate Inc.
Jordan Apartment Guys
(805) 453-8353
phil@jordanapartmentguys.com
CalDRE #00966411
jordanapartmentguys.com
Kern County Real Estate
Sales & Transactions

MLS # Pending — Active 09/03/2026
8700 Stockdale Hwy
Bakersfield, CA 93311