Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 6.0%
- Listing ID: 1348209
- Posted On: Oct 29, 2020
- Updated On: Jan 29, 2021
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
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 % |
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 |
