Movoto Real Estate

0 Rucker Ave, Gilroy, CA 95020

  • $2,000,000

  • bed

  • bath

  • 5

    Acre ($400K/Acre)

Lot/Land for sale 285 days
$200K price increase
Movoto is helping 29 homebuyers near you

About 0 Rucker Ave

Property type Lot/Land
Neighborhood
HOA fee $0/month
Lot size 5 Acre
Movoto estimate
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.
Listed by
Listing Agent - Grail Nitsch
Listing Office - Legacy Real Estate & Associates
Source: MLSListings mls logo
MLS#ML82018888 • last updated 12 hours ago
Movoto checked MLSListings for data 4 minutes ago
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Overview
Type Residential Lots & Land
MLS # ML82018888
SubType Agriculture/Ranch Land
Lot Size (Acres) 5
Exterior
Lot Description Agricultural Use, Farm Animals (Permitted), Grade - Level, Possible Lot Split, Views, Vineyard
Fencing Fenced
Amenities / Utilities
Water Sources Well
Sewer/ Septic Other
Utilities Electricity - On Site, Public Utilities
Horse Amenities Fenced, Pasture
Location
View Hills
County Santa Clara
Area Morgan Hill / Gilroy / San Martin
APN 835-07-018
Zoning A20AC
Lot/ Land Details
Existing Crops/ Vegetation Grassland
Present Use Agricultural, Farm, Farm/Ranch
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  • Real Estate
  • CA
  • Santa Clara County
  • Gilroy
  • 95020
  • 0 Rucker Ave

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