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2259 Inyo Street, Mojave, CA 93501

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For Sale

$335,000

2 beds • 2 baths • 5,100 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • $65.69
    Price per square foot

  • Over 50 Years Old
    Age

Explore this Property

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 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 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
MLS# SR24197820

Courtesy Of sandstone realty

(213) 509-9328

Property Features

  • Age
    Over 50 Years Old
  • Amenities
    Dock
  • Architecture Style
    Other

Map and Directions

Directions to 2259 Inyo Street, Mojave, CA 93501

Home seller CENTURY 21 Doug Anderson

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CENTURY 21 Doug Anderson

(661) 945-4521
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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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