38 Rd, Alpaugh, CA 93201
This expansive 1,137.48-acre agricultural property in Alpaugh, California, presents a unique investment opportunity. The land boasts approximately 229.48 acres of established Early Wonderful and Wonderful pomegranate orchards, contributing to its significant income potential. Historically, the remaining acreage has been utilized for alfalfa and wheat cultivation. The property benefits from its location within the Alpaugh Irrigation District and Alpaugh GSA, ensuring reliable water access via surface water deliveries at a rate of $175 per acre-foot, supplemented by two 300 HP agricultural wells. Four residences enhance the property's value and functionality. A life estate home, approximately 1,504 square feet, includes a 780-square-foot detached shop/garage and various corrals and outbuildings. Three additional residences offer versatile living or employee housing options, with square footages of approximately 4,300, 1,290, and 1,660 square feet respectively. One of these also includes a 600 square foot detached office/storage building. Detailed soil information is available upon request. The property is identified by multiple Tulare County APNs (311-100-001, 311-100-002, 311-100-005, 311-100-033, 311-110-006, 311-120-011, 311-120-014, 311-120-015, 311-120-016, 330-100-011, 330-100-013, 330-100-014, 330-100-016, 330-100-048, 330-100-029, 330-100-033, 330-100-038, 330-100-049, 311-130-004, 311-130-005, 311-130-010, 311-130-011, 311-140-003, 311-140-009, 311-140-010, 311-140-012, 311-160-005, 311-160-006, 311-160-007, 311-160-011, 311-160-020, 311-160-029, 311-160-030 (L.E.) and 330-100-002). Prospective buyers should be aware of the Sustainable Groundwater Management Act (SGMA) and its implications for groundwater pumping. Further information on SGMA can be found at the provided website. This property offers a compelling combination of established agricultural production and significant development potential. Asking price: $17,000,000.
Cap rate
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