Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 7.5%
  • Property ID: 1347283
  • Posted On: Oct 28, 2020
  • Updated On: Jan 22, 2021

Property Description

*Excellent opportunity to acquire a stable, well-maintained Mobile Home Park* Expansion potential for up to 6-12 additional pad sites on top portion of property (Buyer to obtain local and HCD approval).*

Sutter Pines Mobile Home Park is nestled in the foothills of Jackson, CA near Sutter Medical Hospital, Mule Creek State Prison, Jackson Rancheria Casino & Resort, newly constructed Harrah's Casino & Resort, and Wineries.

Sutter Pines is a 95-100% leased community situated on 4.37 acres and features 19 units which are comprised of (9) Cottage/SFR dwelling units owned by Sutter Pines and (10) Mobile Home/RV Pad spaces. The ownership has made significant capital improvements. The water treatment system has been replaced within the past two years, a duplex has been newly built, and new electrical meters have been added so that tenants are fully responsible for utility payment. As well, the park has seen upgrades to well, landscaping, signage, paving and storage.

Sutter Pines is separately metered for electrical, propane is provided by a 3rd party paid by tenants through metered use, RV and Mobile Home spaces all have utility hook-ups. Water, water treatment, and sewer/septic is paid by Owner, with RUBS bill back to tenants.

Sutter Pines is ideal for an investor seeking a low maintenance property, with solid cash-flow, and a great mix of dwelling units to compliment the pad spaces.

Location

The Park is located less than 1 mile from the Sutter Regional Hospital and in close proximity to major retail centers featuring Walmart, Safeway, Petco, Lowe's, Starbucks, Autozone, Jack N The Box, Rountable Pizza, Carls, Jr., Jamba Juice, Les Schwab, America's Tire's Discount and more.

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 19
Total Occupancy: 95.0 %
Average MH Lot Rent: $492
Size: 4 acre(s)

Financial Information (Actual)

Gross Income $159,209
Operating Expense $52,307
Net Operating Income $100,720
Expense Ratio 32.9 %
Debt Info Clear

Lot Information

Singlewide Lots: 11
Doublewide Lots: 0
Triplewide Lots: 0
Park Model Lots: 0

RV Information

Number of RV Lots: 8
Average RV Lot Rent: $488

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 9
Average Rent for Park-owned Homes: $959

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