Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Listing ID: 369134
- Posted On: Apr 16, 2013
- Updated On: Oct 29, 2013
Description
SOLD!!
Rustic, spacious Park set in the rolling foothills on the main highway leading to Kings Canyon & Sequoia National Parks. The owner is recently deceased, so a Trustee will be acting on behalf of the Seller. This Park is located in the beautiful foothills about 35 miles east of Fresno and is situated on 44.3 acres, including two acres zoned for commercial usage. There are 123 mobile home spaces and 17 RV spaces. This once-vibrant Park has been neglected and only 20 spaces are now occupied.
This Park was appraised at $2.5 million back in 1985 and still has wonderful potential for development and restoration, with three wells and its own water treatment plant. It is spacious, with the gently rolling hills and unpaved interior roads lending a sense of privacy.
Kings Canyon National Park is not far away, yet there are nearby amenities, including a gas station, convenience store, cafe, and Ranger station.
This Park will take some work to restore, hence the discounted price of $695,000,, but there is still a tremendous upside and great potential for development.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 123 |
| Total Occupancy: | 14.0 % |
| Year Built: | 1974 |
| Average MH Lot Rent: | $295 |
| Size: | 44 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $6,000 |
| Operating Expense: | $900 |
| Net Operating Income: | $5,100 |
| Expense Ratio: | 15.0 % |
| Debt Info: | Free and Clear |
Lot Information
| Doublewide Lots: | 123 |
RV Information
| Number of RV Lots: | 17 |
| Average RV Lot Rent: | $32 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
Park-Owned Homes
| Number of Park-owned Homes: | 25 |
| Average Rent for Park-owned Homes: | $295 |