0 Rucker Avenue, Gilroy, CA 95020
Santa Clara County
Key Facts
Description
STOP SCROLLING. THIS IS THE DEAL YOUVE BEEN WAITING FOR. BUILD WORKFORCE HOUSING FOR FARM WORKERS ON THIS AGRICULTURAL LAND. 5 prime flat acres in Silicon Valley with direct frontage on US-101. Approximately 400,000 +/- cars pass this site every day. Most people see agricultural land. This is an income-producing asset. CA Governor signed new laws for work force housing on agriculture land. Here is the math: THE FINANCING: 1.0% fixed interest through USDA Section 514/516. This program provides low-cost capital for workforce housing development. THE SPEED: Under the California Employee Housing Act (AB 3035), this qualifies for by-right approval. Timeline is approximately 30-60 days to place modular units on-site. THE CASH FLOW:12 units at projected 2026 fair market rents generates $48,000 per month for 2 bedroom units, or nearly $300,000 annually in net cash flow. Immediate income: Develop 12 to 150 units of farmworker housing using subsidized 1% financing. The project is on schedule for a 100W three-phase power connection. The property is fully fenced. A new 300-foot agricultural well has been installed, producing approximately 200 gallons per minute & nursery license. Buyers should conduct full due diligence with new state laws and county. Buyer can farm it too.
Property Information
Property Type
Land
Sub-Type
Unimproved Land
Lot Size
5.00 acres
Zoning
A20A
Days on Market
333
MLS® Listing#
ML82018888
Property Features
Fencing
Lot Features
Utilities
Financial Details
HOA
None
Parcel Number
83507018
Directions
Rucker Ave
Affordability Calculator
$400,000
Estimated monthly payment
$10,645/mo
Principal $1,600,000 · Est. interest $2,232,142 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Gilroy, CA
- $1,000,000
- Median Listing Price
- 64
- Median Days on Market
- 2,371
- Median Sq Ft
- $519
- Median Price / Sq Ft
- 263
- Active Listings
- This home’s price is 100% above the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Gilroy, CA.
Similar Homes Nearby
Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 7579 Monterey Street, GILROY, CA | $1,449,999 | — | — | 5,000 |
| 7579 Monterey Street, Gilroy, CA | $1,449,999 | — | — | 5,000 |
| 7451 Monterey Road, Gilroy, CA | $1,459,900 | — | — | 2,376 |
| 7451 Monterey Road, GILROY, CA | $1,459,900 | — | — | 2,376 |
| 8120 Catalina Court, Gilroy, CA | $1,488,888 | 5 | — | 3,489 |
| 8120 Catalina Court, Gilroy, CA | $1,488,888 | 5 | 5 | 3,489 |
Moving Cost Estimate
Listing Courtesy: Legacy Real Estate & Associates
Presented by: Grail Nitsch
IDX information is provided exclusively for consumers’ personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed to be accurate. Listing information updated daily.