$370,000 Price Analysis 2259 Inyo StMojave, CA 93501 Unknown bed None bath 4,501 SqFt ($82/SqFt) 0.35 acre lot. Built 1929 Listed 2024-06-19, Taxes $3,216 | ✓ USDA Eligible near Mojave, CA Restrictions may apply due to home size |
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 fantastic 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 plan s 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 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 Agent Remarks: Amazing opportunity for the experienced Investor /Builder -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 lectric 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-
Presented by Joe Mayol at
Exp Realty Of California Inc.
Property MLS #SR24125466 from CRMLS
Year | Assessments Building + Land Total | Tax |
---|---|---|
2022 | $224,000 + $46,000 $270,000 | $3,216 |
2021 | $9,000 + $45,000 $54,000 | $640 |
2020 | $31,859 + $19,114 $50,973 | $678 |
2019 | $31,235 + $18,740 $49,975 | $670 |
2018 | $30,623 + $18,373 $48,996 | $681 |
2017 | $30,023 + $18,013 $48,036 | $703 |
2016 | $29,435 + $17,660 $47,095 | $651 |
2015 | $28,993 + $17,395 $46,388 | $643 |
2014 | $28,426 + $17,055 $45,481 | $632 |
2013 | $28,298 + $16,978 $45,276 | $634 |
2012 | $27,744 + $16,646 $44,390 | $597 |
2011 | $27,200 + $16,320 $43,520 | $563 |
2010 | $52,299 + $34,399 $86,698 | $1,093 |
2009 | $52,424 + $34,481 $86,905 | $1,081 |
2007 | $51,397 + $33,805 $85,202 | $987 |
2006 | $50,390 + $33,143 $83,533 | $988 |
The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.