120 Cielo AveRidgecrest, CA 93555
- Land
- 9.22 AC
Property Details for 120 Cielo Ave
- Lot size
- 9.22 AC
- Property type
- Land
Description
Exceptional 9.22-acre residential land parcel in Ridgecrest, California, is available for $1,600,000. This fee-simple property, located at 120 W Cielo Ave (APN 510-020-03), boasts a projected net operating income (NOI) of $870,800 and a pro-forma cap rate of 54.43%. Zoned Estate 3, the land presents significant development potential. Conceptual plans include a 20-lot single-family home subdivision (1600 sq ft homes with 800 sq ft casitas, projected $1.50/sq ft monthly rent), or a higher-density townhome development of up to 80 units (1000 sq ft units, projected $1.65/sq ft monthly rent). The property's location in the College Heights neighborhood offers convenient access to asphalt roads and perimeter utilities. Comparable new homes in the area sell for $350,000 to $550,000. Ridgecrest's robust development pipeline, including proposed apartment complexes, a new hotel, and a casino, further enhances the investment potential. This leveled lot presents a rare opportunity for significant returns in a growing California market.
Location Insight
- City
- Ridgecrest
- County
- Kern
- State
- California
- Latitude
- 35.5844
- Longitude
- -117.67
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker?
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].