1600 Pine Creek rd - Apartments FOR SALE


Bishop, CA 93514
$15,000,000 USD
619-971-0544
1600 Pine Creek rd, Bishop, CA for Sale
$15,000,000 USD
Apartments - FOR SALE
1/38
null | Request Cap Rate

1600 Pine Creek rd
Bishop, CA 93514


HIGHLIGHTS

  • This expansive single parcel 30 acre property includes 85 rental homes. 64 three-bedroom and 21 two bedroom homes.
  • Project could average approximately 10,000 square foot lots for each existing home, with 3 additional lots.
  • Located at the base of the Sierra Nevada Mountains. 15 Miles to Bishop, CA and 35 miles to Mammoth Lakes, CA
  • Seller financing may be available

OVERVIEW

Discover Pine Creek Village, a prime real estate investment located at the base of the Sierra Nevada Mountains near Bishop, CA. This expansive 30-acre parcel includes 85 rental homes. The community features 64 three-bedroom, one-bath homes and 21 two-bedroom, one-bath homes , averaging 1,029 square feet each. Recent upgrades include new roofs, double-pane windows, Internet, plank flooring, and modernized kitchens and bathrooms. The property offers a community water system, a wastewater treatment facility, and a 2,400 square foot maintenance. Potential subdivision would provide for existing homes on lots averaging 10,000 square feet. Located just 15 miles from Bishop, CA, and 35 miles from Mammoth Lakes, CA where nationally recognized Mammoth Mountain ski resort is located, this property serves the vibrant communities of Bishop, Mammoth Lakes, and beyond. The Eastern Sierra region, renowned for its outdoor recreational opportunities, is a desirable destination for both residents and tourists. With a median home price of approximately $500,000 in the Bishop area, Pine Creek Village offers an exceptional investment opportunity at just over $175,000 per home. Established in 1947, this historical site originally served as housing for the Pine Creek Mine's workers, and it continues to offer significant value and potential.

FOR SALE DETAILS

PRICE

$15,000,000 USD

PRICE/SF

$176 USD /SF

# OF UNITS

85

PRICE/UNIT

$176,471

CAP RATE

Request Cap Rate

% LEASED

99%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Pine Creek Village

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1947

PARKING SPACES

-

LAND DETAILS

LAND ACRES

58 AC

LAND SF

2,526,480 SF

ZONING

R3

APN/PARCEL ID

009-120-27

ASK ABOUT THIS PROPERTY

Jake RasmusonBishop Real EstateMore Info
619-971-0544

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Jake RasmusonBishop Real EstateMore Info
619-971-0544

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.