2259 Inyo Street

Mojave, CA 93501

$370,000

Listed Price
20

bed Beds

10

shower Baths

4,501 sqft

straighten $82 / sqft

1929

calendar_month Built

Property Description

Priced for quick sale, multi units residential development, approved for 10 units, currently plans in process with county building and safety, property needs rehab , this is not ground up construction, there is existing 5,000 sqft building on a 15,000+ square feet lot lot , that provides great potential, this project will require a complete remodeling. The project received Kern county planning commission CUP approval to convert into a 10-unit apartment building consist of 5 studios and 5 one-bedroom units, all electric units with separate meters, no additions or major building alterations required, using the existing structure and available parking. Currently plans are in approval process with building and safety, rents in the area increased by a lot in recent years, proforma shows between $100-$130k in gross annual rents. And with low expense ratio, cap rate is estimated to be between 7-10% once completed. With the new space port being developed in Mojave, alternative energy developments and Edwards Air Force base increasing activities, the rents in the area are in high demand. Mojave is just 45 minutes from Bakersfield and 30 minutes from Lancaster. the building is secure and being guarded, seller may carry for qualified buyers, contact broker for more information and showing-Owner will consider carrying with experienced Person

Interior Features

Bedroom Information
Bedrooms 20
Bathroom Information
Bathrooms 10
Interior Information
Cooling Type None

Listing Information

Address 2259 Inyo Street
City Mojave
State CA
Zip 93501
County Kern
Listing Agent Joe Mayol DRE#00762338
Co-Listing Agent Pablo Meza DRE#01737962
Courtesy Of eXp Realty of California Inc
MLS 24004502
List Price $370,000
HOA $0
Status Active
Type Residential Income
Structure Size 4,501
Lot Size 15,246
Year Built 1929
DOM 1

Exterior Information

Maps

Listing information courtesy of: Joe Mayol, Pablo Meza, eXp Realty of California Inc (661) 618-1442. *Based on information from the Association of REALTORS/Multiple Listing as of Jun 17th, 2024 at 11:23 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.