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Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park

Mobile Home Park Details

  • Purchase Method: New Loan
  • Cap Rate: 6.2%
  • Listing ID: 649693
  • Posted On: Mar 29, 2016
  • Updated On: Oct 3, 2016

Description

Marcus and Millichap is pleased to exclusively present Melody Lane and Mountain View Estates, located at 12688 and 12726 California Street in the city of Yucaipa. Both parks are and all-age community built in 1953. They sit on separate parcels on a total of 10.43 acres. Melody Lane consists of 32 spaces and one two-bedroom, two-bathroom house. The house is single story, has a pitched roof, fireplace, two car garage with private driveway, and yard. Mountain View Estates has a total of 77 spaces, laundry room, swimming pool, clubhouse with a kitchen (currently being used as manager's office), and has excess land for parking and/or future development.

The properties are sub-metered for electricity, gas, city water, sewer, and trash. All sub-metered services are handled by a local meter-reading and billing company. The community has asphalt roads and have been re-sealed in the last six months. The property is subject to the city of Yucaipa's Rent Stabilization Ordinance.

Yucaipa is a mature, well-established community nestled in the foothills of the San Bernardino Mountains. Residents enjoy cleaner air and cooler temperatures as a result of the higher elevations, and a comprehensive approach to community safety has produced one of the lowest rates of crime for comparably sized cities anywhere in the State. Yucaipa’s community assets include its many schools, parks, faith-based organizations, civic groups, and other organizations that make a positive contribution to community life. The Yucaipa planning commission recently approved several new development projects including a new retail stores, single residential homes, new condos, as well as a new housing development.

Amenities

  • Laundromat
  • Pool
  • Club House
  • Storage
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Park Information

Number of MH Lots: 110
Year Built: 1953
Size: 10 acre(s)

Financial Information (Actual)

Gross Income: $668,078
Operating Expense: $355,193
Net Operating Income: $276,363
Expense Ratio: 53.2 %

Utility Information

Water: City
Water Paid By: Tenant - Submetered
Sewer: City

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