Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 6.0%
  • Property ID: 1348209
  • Posted On: Oct 29, 2020
  • Updated On: Jan 29, 2021

Property Description

The Redding MHP Portfolio is situated in Shasta County, 10 miles from the City of Redding, CA, and within 5 miles of the City of Shasta Lake.​ Both properties are positioned on the west side of Interstate 5 (I-5), adjacent to the Mountain Lakes Industrial Park, offering a diverse supply of manufacturing jobs and employment opportunities.​ Shasta Lake currently stands as the largest man-made reservoir in California, providing residents with various recreational activities, including boating and fishing.​ Mount Shasta, a short drive north, also offers numerous outdoor options, backcountry skiing, hiking, and panoramic mountain views.​ The Redding MHP Portfolio is a rare opportunity to acquire multiple assets in a stable Northern California market.​

These properties may be sold separately or together.

Park Villa MHP Video:
https://www.youtube.com/watchv=9IZynr6nNWY&t=22s

Lake Shasta MHP Video:
https://www.youtube.com/watch?v=murtStkQsoc&t=3s

Location

Park Villa MHP - 12125 Lake Blvd, Redding, CA 96003
Lake Shasta MHP - 17776 Red Bud Ln, Shasta Lake, CA 96019

Amenities

  • Laundromat
  • Pool
  • Club House
Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Number of MH Lots: 110
Total Occupancy: 86.4 %
Year Built: 1960
Average MH Lot Rent: $500
Size: 26 acre(s)

Financial Information (Actual)

Gross Income $737,281
Operating Expense $362,547
Net Operating Income $374,734
Expense Ratio 49.2 %
Debt Info

RV Information

Number of RV Lots: 8
Average RV Lot Rent: $512

Utility Information

Water: City

Park-Owned Homes

Number of Park-owned Homes: 6
Average Rent for Park-owned Homes: $995

Video

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