1600 Pine Creek Rd Bishop, CA 93514
- Residential income homes
Current Use by Public Records
- Pine Creek Village, Bishop CA / Apartment Rental Agency
Property Details for 1600 Pine Creek Rd
- Year built
- 1947
- Property type
- Residential income homes
Description
Pine Creek Village, a substantial multifamily investment opportunity in Bishop, CA, presents 85 single-family rental homes situated on a 58-acre parcel at the base of the Sierra Nevada Mountains. This Class D property, built in 1947, boasts 87,431 square feet of net rentable space, with a mix of 64 three-bedroom, one-bath and 21 two-bedroom, one-bath units, averaging 1,029 square feet each. Recent upgrades include new roofs, double-pane windows, modernized kitchens and bathrooms, and high-speed internet access. The property includes a comprehensive infrastructure: three domestic wells, two water storage tanks, a wastewater treatment facility, and a 2,400-square-foot maintenance building with a large storage yard. Currently generating approximately $115,000 in gross monthly rent, the property is zoned R3 (medium high-density residential) and open space, offering significant subdivision potential with lots averaging 10,000 square feet, plus additional acreage for future development. Located 15 miles from Bishop and 35 miles from Mammoth Lakes, this property benefits from its proximity to outdoor recreation and the vibrant communities of the Eastern Sierra region. The asking price is $21,000,000, representing a price per unit of approximately $247,059. Seller financing may be available. This unique property offers a compelling investment opportunity in a high-demand location with substantial upside potential. The property's history dates back to 1947, originally serving as housing for the Pine Creek Mine's workers. The APN is 009-120-27.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Bishop
- County
- Inyo
- State
- California
- Longitude
- -118.614
- Latitude
- 37.4147
