2259 Inyo Street
Mojave, CA 93501
0.35 acres | #SR24197820
Description
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.
Property Details
- Lot DescriptionSixToTenUnitsAcre
- Stories1
Measurements
- Acres0.347
Parking
- Parking Spaces3
Construction Details
- Property TypeMulti-Family
Condition
- Year Built1929
Utilities / Energy Details
- Sewer InformationPublicSewer
- Utility SourcePublic
Community and Neighborhood Details
- CountyKern
Financial Details
- Original List Price$335,000
Other
- MLS #SR24197820
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Ami Tabak (#SR207061180)
Listing Office: Sandstone Realty Inc. (#SR0103200)
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