REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Doug Goss

dgoss@kw.com +1(408) 234-0417

Listed by Grail Nitsch • Legacy Real Estate & Associates, DRE#01304120

$2,000,000

Est. payment - /mo

5 Acres Lot

Save

Open House

Sat Aug 01, 1:00pm - 4:00pm

Sun Aug 02, 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

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 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

Read Less Info

NEARBY SCHOOL & BUSINESS

GET MORE INFORMATION

Doug Goss

+1(408) 234-0417

Broker Associate | License ID: 01182111

Broker Associate License ID: 01182111

0 Rucker AVE Gilroy, CA 95020

Doug Goss

Open House

Key Details

Location

Exterior

Building

Others

NEARBY SCHOOL & BUSINESS

GET MORE INFORMATION