$299,000
2259 Inyo ST Mojave, CA 93501
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$299,000
Est. payment /mo
0.35 Acres Lot
Price Dropped by $36K
2259 Inyo ST Mojave, CA 93501
UPDATED:
11/16/2024 02:33 PM
Key Details
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR24197820
HOA Y/N No
Year Built 1929
Lot Size 0.347 Acres
Property 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.
Location
State CA
County Kern
Area Mojv - Mojave
Zoning C-2 PD H F
Interior
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 3.0
Garage Description 3.0
Pool None
Community Features Foothills, Hiking, Near National Forest, Rural
Total Parking Spaces 3
Private Pool No
Building
Lot Description 6-10 Units/Acre
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 23621210003
Energy Description 4000.0
Acceptable Financing Cash, Owner May Carry
Listing Terms Cash, Owner May Carry
Special Listing Condition Standard
Listed by Ami Tabak • Sandstone Realty Inc. • 213-509-9328
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