Fantastic development opportunity!!!! multi use residential building, property is in bad condition and will need a complete rehab. the owner is in the process of converting the building into a 10-unit apartment building, using the existing structure. the potential is huge, the proforma will show 8-10% cap and between 6- 8 gross multiplier once the project is completed. you can't find these numbers anywhere nowadays. this is a 4500 sqft existing building with an additional structure and a 3-car garage/ storage, ample parking and much more potential to add. Mojave is growing and has high demand for rentals with better quality tenants than ever before, Edwards air base just minutes away, aerospace, solar and wind energy and many other programs are being worked on all over the Mojave area, city of Mojave is just 45 minutes from Bakersfield and 30 minutes form Lancaster. the building is secure and being guarded. listing broker is member of the owning entity, contact the agent for more detailed information and numbers.
seller may be willing to carry (restrictions may apply)