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Additional details
$ 195,000
Est. payment /mo
Active Under Contract
1902 Lotus Bakersfield, CA 93307
0.46 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Lots/Land
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID SR26127523
Lot Size 0.459 Acres
Property Sub-Type Lots/Land
Property Description
Ready-to-Issue Permits for 14 Units + 3 ADU's! This one is as close to go-time as land gets! 1902 Lotus Lane comes with ready-to-issue permits for a 14-unit apartment complex plus 3 ADUs - 17 rentable units total. Plans are drawn, permits are in hand, and all utilities are available at the lot. Water, sewer, gas, and electric are ready to connect. You're not buying a vision here - you're buying a running start! The project is designed as 7 two-story duplexes, each unit with a 2-car garage. The 3 ADUs add bonus income with minimal added complexity. At $195,000 that's under $11,500 per door in land cost for a fully permitted 17 unit project - before you've swung a hammer. Bakersfield rental demand is strong and new supply is thin. Permits like this save 12-18 months of time and tens of thousands in entitlement costs. That savings is already built into this price. Ideal for a builder ready to move fast or an investor looking to add a stabilized income property to their portfolio.
Location
State CA
County Kern
Direction Cross street Bradshaw Street
Interior
Fireplace No
Exterior
View Y/N No
Others
Senior Community No
Tax ID 17010007019
Acceptable Financing Cash, Conventional, FHA, VA
Listing Terms Cash, Conventional, FHA, VA
Listed by Alejandro Mora, DRE#01820381 The Mora Partners Inc.
NEARBY SCHOOL & BUSINESS
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