0 Rucker AVE, Gilroy, CA 95020
0 Rucker AVE, Gilroy, CA 95020
0 Rucker AVE, Gilroy, CA 95020
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Joel Martinez

Joel Martinez

+1(408) 819-1114
Listed by Grail Nitsch • Legacy Real Estate & Associates, DRE#01304120
$2,000,000
Est. payment /mo
5 Acres Lot
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Sat Aug 29, 1:00pm - 4:00pm

Sun Aug 30, 1:00pm - 4:00pm

UPDATED:

Key Details

Property Type Vacant Land

Sub Type Agriculture/Ranch Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID ML82018888

Lot Size 5.000 Acres

Property Sub-Type Agriculture/Ranch Land

Property Description

BUILD 150 WORK FORCE HOUSING UNITS. 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. Buyer to verify new state and local laws and number of units.

Location

State CA

County Santa Clara

Area Morgan Hill / Gilroy / San Martin

Zoning A20AC

Exterior

Fence Fenced

Utilities Available Electricity - On Site, Public Utilities

View Hills

Present Use Agricultural,Farm,Farm/Ranch

Building

Lot Description Agricultural Use, Farm Animals (Permitted), Grade - Level, Possible Lot Split, Views, Vineyard

Sewer Other

Water Well

Others

Tax ID 835-07-018

Horse Property Yes

Horse Feature Fenced, Pasture

Special Listing Condition Not Applicable

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Joel Martinez

Joel Martinez

+1(408) 819-1114

Property Connection Specialist | License ID: 02338033

Property Connection Specialist License ID: 02338033

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