42569 Old Yosemite Rd Oakhurst, CA 93644

Property Details for 42569 Old Yosemite Rd

Year built

2005

Lot size

11.00 lot acres

Property size

2,603 SF

Property type

Residential income homes

Description

This exceptional property, situated on approximately 11 acres near Yosemite National Park, presents a unique investment opportunity. The main residence, built in 2005, boasts 2,603 square feet and features two stories, three bedrooms, and two bathrooms downstairs, plus an additional primary bedroom and full kitchen upstairs. Recent upgrades include a new central air conditioning unit ($12,000), a new high-efficiency spa heater ($7,000), bathroom renovations ($15,000), new LVP flooring ($4,000), barn insulation and drywall ($20,000), and $30,000 in new furniture. The property also includes a 1,500 square-foot barn with a studio apartment, a 12-person in-ground stone spa, and extensive landscaping. Amenities include a motorized gate, large water tank, 500-gallon propane tank, two water wells producing approximately 9 gallons per minute, and a Generac generator (approximately 5 years old). Currently operating as a successful short-term rental, the property generated $16,000 in gross revenue for June and July 2024, projecting $140,000 annually, with potential for $160,000 with increased occupancy. Converting the barn (buyer to verify with county) could further increase revenue to $211,000. The property is zoned AR-5, offering potential for expansion, including the possibility of subdividing into two parcels or developing the existing barn or observatory area. The asking price is $1,099,000, representing a current NOI of $116,200 and a pro-forma NOI of $200,000, with a current cap rate of 10.57% and a pro-forma cap rate of 18.20%. Located just 14 miles from Yosemite National Park's South Entrance, 6 miles from Bass Lake, and 6 miles from Oakhurst, this property offers both a lucrative investment and a tranquil mountain escape. Extensive land clearing ($7,500) has already been completed.