Mobile Home Park Details

  • Cap Rate: 6.5%
  • Property ID: 1378507
  • Posted On: Jan 13, 2021
  • Updated On: Apr 18, 2021

Property Description

New Orchard Mobile Home Park is a Senior Community in Los Molinos, California.
The Park consists of Forty Three spaces and a House, divided into a Manufactured Home section, and an RV section. Seventeen spaces are occupied by Double Wide homes, Twelve are Single Wides and Twelve spaces have long term occupancy RVs and Fifth Wheels.

The park is on a flat 10 acre parcel. It was built in 1975 and was formerly a prune and walnut orchard with the RV section. There are over four hundred feet of Highway 99 frontage and an attractive single family home at the front entrance.

The Park has over four acres of open space. The asphalt streets in the Manufactured Home section were just re-surfaced, and they have rolled concrete curb and gutter.
Almost every Manufactured Home space has large mature shade trees, neat and well-maintained yards, and the homes attractively angled towards the street. All Manufactured Homes have off street parking on concrete driveways with awning style carports, and decks.

The Park operates on chlorinated well water and a trouble free private sewer system. It appears that City Water will be coming to the Park in 2021. Electricity is sub-metered to each space, including the RV spaces. Propane is supplied to, and submetered to the Mobile Home spaces only.

There are two vacant Manufactured Home spaces, well located within the Park, and no homes were observed to be for sale. Residents pay $395-$445 space rent, which includes water, sewer and garbage. Rents were raised $20 as of January 1, 2021.

Los Molinos is a rural agricultural community between Corning and Red Bluff in the Northern Sacramento Valley. Highway 99 in this area is dotted with ranches, walnut orchards, pastures and farm stands.

Amenities

  • Laundromat
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Park Information

Community Type: 55 And Over
Number of MH Lots: 44
Total Occupancy: 95.5 %
Year Built: 1975
Average MH Lot Rent: $437
Size: 10 acre(s)

Financial Information (Actual)

Gross Income $278,848
Operating Expense $144,273
Net Operating Income $130,143
Expense Ratio 51.7 %
Debt Info

Lot Information

Singlewide Lots: 12
Doublewide Lots: 19
Triplewide Lots: 0
Park Model Lots: 0

RV Information

Number of RV Lots: 12
Average RV Lot Rent: $423

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 1

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