$365,000

Fantastic development opportunity!!!! multi units residential development sits on 15,000+ square feet lot lot with over 5,000 sqft existing building, this project will require a complete rehab and lots of love. the building previously was used as residential / motel commercial. on January 2023 received 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 require, using the existing structure and available parking. currently plans are in approval process from building and safety, the potential is huge, rents in the area increased by a lot in recent years, proforma shows over $100,000 in gross rent s with low expense ratio for, the area with new space port being developed, alternative energy developments, Edwards Air Force base activities, the rent is 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 a new loan with 50% down for qualified buyers, contact broker for more information and showing.