Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 6.7%
  • Listing ID: 1726762
  • Posted On: Aug 3, 2022
  • Updated On: Sep 6, 2022

Description

Marcus & Millichap is pleased to present the exclusive listing for McCord Mobile Village, a 14-Space Mobile Home Park located at 405 McCord Ave, Bakersfield, CA 93308. The site consists of 14-Mobile Home Spaces with public water and sewer connections. McCord Mobile Village is just North of Kern River and gives quick, approximately one mile access to Highway 99 and 204. McCord Village boasts a day one, going-in cap rate of 6.70 percent, allowing an entry-level investor to immediately start cash flowing with a smaller investment size. Half (seven) of the spaces have a mobile home/RV that is seller-owned and will be transferred with the sale allowing the buyer the option to sell them for additional, post purchase cash back!

The Bakersfield metro lies near the Southern end of the San Joaquin Valley and encompasses all of Kern County. The Kern River flows through the region, which includes parts of three mountain ranges that limit development. The city of Bakersfield, which is the county seat, contains roughly 376,200 residents, and is located just 80 miles from the Los Angeles metropolitan area. Kern County’s central location puts it within a half-day’s drive of all major California metros.

Location

Attractive Going-in Cap Rate of 6.70 Percent

Half of the Spaces Have Trailers/Mobile Homes Owned By Seller

Unique, Entry-Level Investment For Investors Looking For Great Cash Flow

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 14
Total Occupancy: 100.0 %
Year Built: 1950
Average MH Lot Rent: $524
Size: 1 acre(s)

Financial Information (Actual)

Gross Income: $75,576
Operating Expense: $32,010
Net Operating Income: $43,566
Expense Ratio: 42.4 %

Lot Information

Singlewide Lots: 11
Doublewide Lots: 3

Utility Information

Water: City
Water Paid By: Park
Sewer: City