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-
Great Investment opportunity!! Seller is very motivated. This offering is for a 9-Units multifamily investment opportunity located in Mojave City. Two separate buildings on the huge lot of 11,261 sqft and a total living space of 4,245 sqft. This property features (4 units 1 bed/1bath)+(4 units studios style)+(1 unit with 2 beds/1bath). This is a premier multi-units investment; with its incredible location and placement within a thriving market, the property presents investors with a worthy endeavor with significant upside. The property has undergone extensive renovations with new electrical and panels, new tankless water heater, new laminate wood flooring, and fresh interior paint providing the new owners with an investment requiring minimal upgrades in the coming years. This is a fantastic income opportunity. A MUST SEE!!!
Mojave is located in California. Mojave, California has a population of 4,222. Mojave is less family-centric than the surrounding county with 18.1% of the households containing married families with children. The county average for households married with children is 36.46%.
The median household income in Mojave, California is $31,111. The median household income for the surrounding county is $50,826 compared to the national median of $57,652. The median age of people living in Mojave is 33.2 years.
The average high temperature in July is 96.4 degrees, with an average low temperature in January of 33.5 degrees. The average rainfall is approximately 11.6 inches per year, with 1.1 inches of snow per year.
