Property Details
About this Property
over 5,000 sqft building on a 15,000 sqft lot with huge potential, zoned C-2, can be used for numerous commercial and/or residential uses, the property needs lots of TLC, this is not ground up construction, use the existing building, the property will require a complete remodeling. current owner 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 a low expense ratio, the cap rate is estimated to be between 8-12% 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.
MLS Listing Information
MLS #
CRSR24197820
MLS Source
California Regional MLS
Parking, School, and Other Information
Garage/Parking
Garage: 3 Car(s)
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 2 | – | – |
Neighborhood: Around This Home
Neighborhood: Local Demographics
Nearby Homes for Sale
2259 Inyo St is a Residential Income in Mojave, CA 93501. This – square foot property sits on a – Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $299,000 and was built in 1929. This address can also be written as 2259 Inyo St, Mojave, CA 93501.
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This listing information is up-to-date as of November 22, 2024. For the most current information, please contact Ami Tabak
