0 Rucker AvenueGilroy, CA 95020

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.

Property Information

Property type

Land

Sub-type

Agriculture

Lot size

5.00 acres

Zoning

A20AC

Days on market

420

MLS^® Listing#

ML82018888

Property Features

Fencing

Chain Link

Lot features

Agricultural · Level

Utilities

Electricity Available

Sewer

Other

Water source

Well

Financial Details

HOA

None

Parcel number

83507018

Directions

It is at the end of the street of Rucker Ave and US 101 is the frontage. One can taken the Masten Exit, then take 6th street and turn left on Rucker. Go to the end of the street. It is on your right side with a flag outside the gate. Cross Street: Rucker Ave