11
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$3,950,000
Est. payment /mo
Active
400 N Oakglen Nipomo, CA 93444
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Key Details
Property Type Vacant Land
Sub Type Lots/Land
Listing Status Active
Purchase Type For Sale
Subdivision Nipomo(340)
MLS Listing ID SC25021245
Property Sub-Type Lots/Land
Property Description
Approximately 20 acres of the Property adjacent to the High School has an antiquated, unrecorded underlying 1887 subdivision map. The county uses it in defining the assessor parcels (APNs). The assessor's parcel map is used herein to determine acreage but it only references the lots in the antiquated subdivision map and therefore the acreage for the nonexistent paper streets and alleys are not included in the 99 +/- acres referenced herein. Owned today by direct descendants of the famous Captain Dana who owned the original 1837 Mexican Land Grant, the Property has a long history of irrigated farming. It is currently leased to a grower who has been growing squash and peppers. Currently there are 76 acres leased with rents at 1,500 dollars per acre per year totaling 114,000 dollars annually, with some potential to add additional acreage. The lease expires November 30, 2025. The Property is In the vicinity of other irrigated farming operations, including strawberries, vegetables, avocados and citrus. There is one irrigation well that is reported to produce 450 GPM currently. Water is delivered via a combination of underground and above ground pressurized main lines. There is a cell tower located on the Property which brings in about 22,000 dollars annually with annual increases. The Property is located in the Sphere of Influence of the Nipomo Community Services District. It is not subject to a Williamson Act contract.
Location
State CA
County San Luis Obispo
Direction Highway 101 - exit Teft Go east on Teft - left on Oakglen
Interior
Fireplace No
Exterior
View Y/N No
Others
Tax ID 090151009
Listed by Larry Lahr Rincon Corporation