Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 12.0% (Pro Forma)
- Listing ID: 618752
- Posted On: Jan 13, 2016
- Updated On: Jul 27, 2016
Description
Here is a rare opportunity to own a 20 space mobile home park with included development opportunity for either more mobile homes, or develop into multi family housing. The park is 20 spaces with paved roads, concrete pads at each station, PG&E individual gas and electric at each pedestal with 100 amp capability. The entire property is 5.33 +/- acres with the park only occupying approximately 1.5 acres. Land is zoned multi family with a high demand for rental housing. The additional land is currently old walnut orchards, however the infrastructure is present and may allow for expanded development and/or splitting opportunities. Priced at less than 35K per space with space rent at $365/month across the board.
Contact Broker Michael Zuccolillo at 530-521-4576/cell or email mike@gosimplistic.com (please don't use email contact function...Im having problems receiving them)
Amenities
- Handicap Accessible
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 20 |
| Total Occupancy: | 85.0 % |
| Year Built: | 1975 |
| Average MH Lot Rent: | $365 |
| Size: | 6 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $87,600 |
| Operating Expense: | $10,000 |
| Net Operating Income: | $77,600 |
| Expense Ratio: | 11.4 % |
Lot Information
| Doublewide Lots: | 20 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |