Pine Creek Village | 1600 Pine Creek rd
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Pine Creek Village 1600 Pine Creek rd
85 Unit Apartment Building $21,000,000 ($247,059/Unit) Bishop, CA 93514
Investment Highlights
- This expansive 58-acre property includes 85 rental homes. 64 three-bedroom and 21 two bedroom homes.
- Located at the base of the Sierra Nevada Mountains. 15 Miles to Bishop, CA and 35 miles to Mammoth Lakes, CA
- Project could average approximately 10,000 square foot lots for each existing home, with 3 additional lots nearly 30 acres land available to build
- Seller financing may be available
Executive Summary
Discover Pine Creek Village, a prime real estate investment located at the base of the Sierra Nevada Mountains near Bishop, CA. This expansive 58-acre property includes 85 rental homes. The community features 64 three-bedroom, one-bath homes and 21 two-bedroom, one-bath homes, averaging 1,029 square feet each. Recent upgrades include new roofs, double-pane windows, Internet, and modernized kitchens and bathrooms.
The property has three domestic wells and two water storage tanks encompassing a community water system, a wastewater treatment facility, and a 2400 square foot maintenance building and large storage yard. Potential subdivision would provide for existing homes on lots averaging 10,000 square feet, with the additional acreage for future development. Currently the zoning is a mix of R3 medium high density and open space uses.
Located just 15 miles from Bishop, CA, and 35 miles from Mammoth Lakes, CA where nationally recognized Mammoth Mountain ski resort is located, this property serves the vibrant communities of Bishop, Mammoth Lakes, and beyond. The Eastern Sierra region, renowned for its outdoor recreational opportunities, is a desirable destination for both residents and tourists. With a median home price of $535,000 in the Bishop area, Pine Creek Village offers an exceptional investment opportunity at under $250,000 per home. Established in 1947, this historical site originally served as housing for the Pine Creek Mine's workers, and it continues to offer significant value and potential.
The property has three domestic wells and two water storage tanks encompassing a community water system, a wastewater treatment facility, and a 2400 square foot maintenance building and large storage yard. Potential subdivision would provide for existing homes on lots averaging 10,000 square feet, with the additional acreage for future development. Currently the zoning is a mix of R3 medium high density and open space uses.
Located just 15 miles from Bishop, CA, and 35 miles from Mammoth Lakes, CA where nationally recognized Mammoth Mountain ski resort is located, this property serves the vibrant communities of Bishop, Mammoth Lakes, and beyond. The Eastern Sierra region, renowned for its outdoor recreational opportunities, is a desirable destination for both residents and tourists. With a median home price of $535,000 in the Bishop area, Pine Creek Village offers an exceptional investment opportunity at under $250,000 per home. Established in 1947, this historical site originally served as housing for the Pine Creek Mine's workers, and it continues to offer significant value and potential.
Property Facts
| Price | $21,000,000 | Building Class | C |
| Price Per Unit | $247,059 | Lot Size | 58.00 AC |
| Sale Type | Investment | Building Size | 85,000 SF |
| No. Units | 85 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1947 |
| Property Subtype | Apartment |
| Price | $21,000,000 |
| Price Per Unit | $247,059 |
| Sale Type | Investment |
| No. Units | 85 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 58.00 AC |
| Building Size | 85,000 SF |
| No. Stories | 1 |
| Year Built | 1947 |
Unit Amenities
- Air Conditioning
- Wi-Fi
Site Amenities
- Wi-Fi
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 64 | - | - |
| 2+1 | 21 | - | - |
PROPERTY TAXES
| Parcel Number | 009-120-27 | Improvements Assessment | $4,925,729 |
| Land Assessment | $1,354,044 | Total Assessment | $6,279,773 |
PROPERTY TAXES
Parcel Number
009-120-27
Land Assessment
$1,354,044
Improvements Assessment
$4,925,729
Total Assessment
$6,279,773
zoning
| Zoning Code | R3 and openspace (Multi-family) |
| R3 and openspace (Multi-family) |
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Pine Creek Village | 1600 Pine Creek rd
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