Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 5.8%
- Listing ID: 1415372
- Posted On: Mar 30, 2021
- Updated On: Apr 15, 2021
Description
Forest Glen MHP is situated in the city of Boulder Creek located within Santa Cruz County, approximately 30 minutes from downtown Santa Cruz, 1 hour from San Jose, and under 1.5 hours from San Francisco. This desirable location is centrally located between three major metros with a highly sought-after year-round climate between 40-76 degrees. Santa Cruz County is one of California's most expensive counties, resulting in high demand for low-income housing. Forest Glen MHP is a rare opportunity to acquire a stabilized cash-flowing asset in the attractive Santa Cruz market.
Amenities
- Laundromat
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 16 |
| Total Occupancy: | 100.0 % |
| Year Built: | 1960 |
| Average MH Lot Rent: | $396 |
| Size: | 2 acre(s) |
Financial Information (Actual)
| Gross Income: | $137,859 |
| Operating Expense: | $62,823 |
| Net Operating Income: | $75,036 |
| Expense Ratio: | 45.6 % |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 4 |
| Average Rent for Park-owned Homes: | $1,685 |