Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 6.7%
- Property ID: 1644294
- Posted On: Apr 13, 2022
- Updated On: Mar 2, 2023
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
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 |
