2259 Inyo Street, Mojave, CA 93501
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Listed Price :
$370,000
-
Beds :
20
-
Baths :
10
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Property Size :
4,501 sqft
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Year Built :
1929
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 |
| List Price |
$370,000 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
4,501 |
| Lot Size |
15,246 |
| Year Built |
1929 |
Listing information courtesy of: Joe Mayol, Pablo Meza, eXp Realty of California Inc. *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.
