Contact Information

Mobile Home Park Details

  • Price: $15,250,000
  • Cap Rate: 7.3%
  • Property ID: 1276979
  • Posted On: Jun 23, 2020
  • Updated On: Jun 23, 2020

Property Description

This well-operated 55+ Manufactured Housing Community has 264 sites within a resort-style layout and is located in Southern California’s iconic Coachella Valley 5 miles from the Palm Springs International Airport. This MHC is a quality property and provides residents with a full amenities package. Serviced by city water and sub-metered gas and electric that is paired with a newer solar installation for greater electricity recapture. All resident-owned homes and high occupancy speak to the stability of this investment, while the below market rent and rental rate growth provide substantial upside potential. The community offers solid MH occupancy at 96.9% with 232 MH spaces and an additional 32 RV spaces with seasonal occupancy (HCD permitted for 277 MH spaces with drains). This gives the opportunity to fill the remaining units and continued rental growth with Tramview’s controlled space rental rate at $525 and market rent of $683 and market turnover rent at $735.

INVESTMENT HIGHLIGHTS
- Iconic, Established Tourist & Snowbird Location
- Highly-Occupied Community (97%) with No Park-Owned Homes & Rental Upside
- City Water & Submetered Electric/Gas (Solar)

PLEASE CONTACT LISTING BROKER FOR ADDITIONAL INFORMATION

Location

Ideally located less than five (5) miles from the Palm Springs International Airport and directly on the main thoroughfare of E Palm Canyon Drive (CA-111) which is only six (6) miles from Interstate-10, Tramview offers easy access to the greater Palm Springs Metro. With easy access to golf, shopping, downtown Palm Springs and Rancho Mirage the community has always maintained stable occupancy and a prime snowbird destination.
Additional debt information available following completion of confidentiality agreement.

Amenities

  • Laundromat
  • Pool
  • Club House
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Park Information

Community Type: 55 And Over
Number of MH Lots: 278
Total Occupancy: 97.0 %

Financial Information

Debt Info Assumable Agency Financing with Possible Supplemental

Utility Information

Water: City

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