0 Rucker AVE, Gilroy, CA 95020
0 Rucker AVE, Gilroy, CA 95020
0 Rucker AVE, Gilroy, CA 95020
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Leon Borunda

Leon Borunda

+1(559) 779-6540
$2,000,000
Est. payment /mo
5 Acres Lot
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UPDATED:

Key Details

Property Type Vacant Land

Sub Type Agriculture

Listing Status Active

Purchase Type For Sale

MLS Listing ID ML82018888

HOA Y/N No

Lot Size 5.000 Acres

Property Sub-Type Agriculture

Property Description

STOP SCROLLING. THIS IS THE DEAL YOUVE BEEN WAITING FOR. BUILD WORKFORCE HOUSING FOR FARM WORKERS ON THIS AGRICULTURAL LAND. 5 prime flat acres in Silicon Valley with direct frontage on US-101. Approximately 400,000 +/- cars pass this site every day. Most people see agricultural land. This is an income-producing asset. CA Governor signed new laws for work force housing on agriculture land. Here is the math: THE FINANCING: 1.0% fixed interest through USDA Section 514/516. This program provides low-cost capital for workforce housing development. THE SPEED: Under the California Employee Housing Act (AB 3035), this qualifies for by-right approval. Timeline is approximately 30-60 days to place modular units on-site. THE CASH FLOW:12 units at projected 2026 fair market rents generates $48,000 per month for 2 bedroom units, or nearly $300,000 annually in net cash flow. Immediate income: Develop 12 to 150 units of farmworker housing using subsidized 1% financing. The project is on schedule for a 100W three-phase power connection. The property is fully fenced. A new 300-foot agricultural well has been installed, producing approximately 200 gallons per minute & nursery license. Buyers should conduct full due diligence with new state laws and county. Buyer can farm it too.

Location

State CA

County Santa Clara

Area 699 - Not Defined

Zoning A20AC

Interior

Fireplace No

Exterior

Utilities Available Electricity Available

View Y/N Yes

View Hills

Present Use Agricultural

Building

Lot Description Agricultural, Horse Property, Level

Sewer Other

Water Well

Schools

School District Gilroy Unified

Others

Tax ID 83507018

Horse Property Yes

Special Listing Condition Standard

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Listed by Grail Nitsch Legacy Real Estate & Associates #01304120

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Leon Borunda

Leon Borunda

+1(559) 779-6540

Realtor | License ID: 01818465

Realtor License ID: 01818465

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Name

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