Homes for sale - 2259 Inyo ST, Mojave, CA 93501

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$299,000

Est. payment - /mo

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0.35 Acres Lot

Price Dropped by $36K

2259 Inyo ST Mojave, CA 93501

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Paco Licea

paco@pacotherealtor.com +1(951) 213-9131

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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Paco Licea

Broker | License ID: 01337048

+1(951) 213-9131