1600 Pine Creek Rd,Bishop, CA 93514

Remarks

Pine Creek Village

1. The property includes 85 existing homes located on a single 58-acre parcel.
2. Also included are 3 domestic wells, 2 water storage tanks, access to the water booster station, a wastewater treatment facility, 2400 square foot maintenance building, community propane tanks.
3. All 85 homes are rented except for short term turnover for maintenance and rehab due to tenant move out.
4. Current gross rent approximately $115,000 per month.   
5. Homes include 21 two-bedroom one bath and 64 three-bedroom one bath. 
6. The average size of the 85 homes is 1029 square feet.
7. Project could average approximately 10,000 square foot lots for each existing home, with 3 additional lots nearly 30 aces land available to build. 
8. Located at the base of the Sierra Nevada Mountains.  15 Miles to Bishop, CA and 35 miles to Mammoth Lakes, CA
9. Homes include upgrades such as new roofs, double pane windows, high speed internet, interior and exterior painting, remodeling interior kitchens & bathrooms and other improvements. 
10. Property is mixed zoned with a portion being R3 medium high-density residential and open space.
11. Seller financing may be available.  

Area Information

1. The property is located near the border of Inyo and Mono Counties primarily serving the communities of Bishop and Mammoth Lakes.
2. Less than 2% of the land in Inyo County is privately owned.  Mono County is at 4%. 
3. The current median home price for the Bishop, California area is $535,000.
4. Project is available for existing units at just under $250,000 per unit. 
5. Established in 1947, when the US Vanadium Corporation purchased the former Foreman Ranch near the mouth of Pine Creek Canyon to house workers at their high-altitude Pine Creek Mine, which had expanded due to military demand for tungsten during World War II.
6. Bishop California and the Eastern Sierra is located between Death Valley and Yosemite National Parks.  The area offers some of the best hiking, camping, rock climbing, skiing at Mammoth Mountain, off-roading, fishing, hunting, and many other outdoor activities. 
7. Located 200 miles to Reno, NV 275 miles to Los Angeles 275 Miles to Las Vegas, and 300 Miles to San Francisco. 
8. United Airlines commercial air service at the Bishop Airport. 

General Information