Contact Information

Mobile Home Park Details

  • Price: $1,395,000
  • Purchase Method: New Loan
  • Cap Rate: 6.7%
  • Property ID: 1644294
  • Posted On: Apr 13, 2022
  • Updated On: Sep 6, 2022

Property Description

V&P Mobile Home Park + Duplex is comprised of 17 total units on two separate parcels of land located in an opportunity zone. V&P MHP is an all- age community with 13 mobile home spaces and 2 stick-built houses on a 1.04 AC parcel. The adjoining parcel has a duplex with 2 separate stick- built houses on approximately half an acre. The Stockton MSA has a population of 446,000 and is the 11th largest city in California. V&P MHP + Duplex represents a unique opportunity to acquire two stabilized assets in a high-growth Central Valley market.

Location

The property is located off the Golden State Highway (SR-99) in southeast Stockton, CA. Its desirable location is situated less than a 10-min (3.1 mi) drive to Downtown Stockton, 1 hour (48.4 mi) drive to California's capital, Sacramento, 1.5 hours (83 mi) to San Francisco, CA, and less than 2 hours (94 mi) from Yosemite National Park.

Amenities

  • Storage
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Park Information

Community Type: All Age
Number of MH Lots: 17
Total Occupancy: 100.0 %
Average MH Lot Rent: $638
Size: 2 acre(s)

Financial Information (Actual)

Gross Income $148,858
Operating Expense $56,057
Net Operating Income $92,801
Expense Ratio 37.7 %
Debt Info

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

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