Mobile Home Park Details

  • Purchase Method: Cash, Seller Financing, New Loan
  • Cap Rate: 8.0%
  • Listing ID: 15724
  • Posted On: Aug 25, 2010
  • Updated On: Jul 14, 2011

Description

This is a Mobile Home Park that should be sold with the adjoining Driftwood RV Park, in that both parks use the same public facilities. The Parks are located right on the Sacramento River in Los Molinos, which is between Chico and Red Bluff just off of Highway 99 in Northern California. These two parks can be sold with Whispering Waters in Anderson, CA and also on the Sacramento River. The 3 parks bring in about $300k net between them; very stable; and in the best location right of the majestic Sacramento River. Both MH Parks own all of the mobiles, and some of the units in the RV Park are park owned. Very lucrative, and a great investment for the future, due to the location and the nature of the park. See www.ronlargent.com for details, or e-mail ronlargent@kw.com

Location

These parks are right on the Sacramento River in Los Molinos, in Tehama County, in Northern California. The community is mid way between Red Bluff and Chico. Absolutely stunning location with access to the River.

Amenities

  • Laundromat
  • Storage
  • Club House
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Park Information

Community Type: All Age
Number of MH Lots: 34
Total Occupancy: 95.0 %
Year Built: 1960
Average MH Lot Rent: $600
Size: 10 acre(s)

Financial Information (Pro Forma)

Gross Income: $200,000
Operating Expense: $40,000
Net Operating Income: $160,000
Expense Ratio: 20.0 %

RV Information

Number of RV Lots: 24
Average RV Lot Rent: $400

Utility Information

Water: Well
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 34
Average Rent for Park-owned Homes: $600

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