Contact Information

Mobile Home Park Details

  • Price: $775,000
  • Purchase Method: Cash, Seller Financing, New Loan
  • Cap Rate: 8.6%
  • Property ID: 1719644
  • Posted On: Jul 25, 2022
  • Updated On: Feb 7, 2023

Property Description

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Shady Lane Mobile Home Park is located in the city of Porterville, California and sits on approximately 1.48 acres of land. The all-age park is comprised of approximately 25 mobile home spaces [it’s permitted for 27], 2 Apartment Units [duplex] and 1 Single Family Residence. Electricity and Gas have been upgraded and are now direct billed by the utility provider. Water is sub-metered, while Trash is a flat fee and paid for by the tenants.. The community amenities include a Laundry Room and Storage.
***30 Total rental units*** Seller Financing Available***

Location

The 2010 United States Census reported that Porterville had a population of 54,165. The population density was 3,076.3 people per square mile (1,187.77/km²). The racial makeup of Porterville was 31,847 (58.8%) White, 673 (1.2%) African American, 1,007 (1.9%) Native American, 2,521 (4.7%) Asian, 64 (0.1%) Pacific Is lander, 15,482 (28.6%) from other races, and 2,571 (4.7%) from two or more races. Hispanic or Latino of any race were 33,549 persons (61.9%). The Census reported that of those 53,018 people (97.9% of the population) lived in households, 207 (0.4%) lived in non-institutionalized group quarters, and 940 (1.7%) were institutionalized
In the California State Senate, Porterville is in the 14th district. In the California State Assembly, it is in the 26th Assembly District, represented by Republican Devon Mathis. In the United States House of Representatives, Porterville is in California's 23rd congressional district, represented by Republican Kevin McCarthy
California State Route 65, known as the All-American City Highway or Porterville Freeway, is a major north-south freeway and expressway that heads north to Lindsay and south to Bakersfield. California State Route 190 is a major east-west highway in Porterville that heads west to California State Route 99 in Tipton and east bypassing East Porterville to Springville.
Porterville Transit operates environmentally-friendly and convenient public transportation to Porterville and the surrounding communities. The city has one airport and offers 1 passenger Charter service, West Air.

Amenities

  • Laundromat
  • Storage
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Park Information

Community Type: All Age
Number of MH Lots: 30
Total Occupancy: 93.0 %
Average MH Lot Rent: $300
Size: 2 acre(s)

Financial Information (Actual)

Gross Income $122,431
Operating Expense $55,737
Net Operating Income $66,694
Expense Ratio 45.5 %
Debt Info None

Utility Information

Water: City
Water Paid By: Tenant - Submetered
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 1

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