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Address is 35099 Highway 74 Hemet, CA 92545

Robert Paez

Martinez and Associates

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THE PALMS MOBILE ESTATES AND STORAGE

Mobile Home Community for Sale in Hemet, California

35099 Highway 74
Hemet, CA 92545

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Sale Price: $3,500,000
 

Contact Information

Robert Paez
Martinez and Associates

Mobile Home Park for Sale

Number of MH Lots: 98
Size: 9.3 acre(s)
Cap Rate: 5.5%
Purchase Method: Cash, New Loan
Status: Sale Pending
Property ID: 685328
Posted on: Jul 07, 2016
Updated on: Oct 11, 2017
Price: $3,500,000

Property Description

The Palms Mobile Estates and Storage is a 98-site mobile home park built in or about the 1970's and is situated on approximately 9.32 acres. Gas and electric are directly billed and paid by the residents. Water, trash and septic is paid by the landlord. The Palms includes an office, clubhouse, swimming pool and a laundry room. There are currently 22 vacant spaces and 6 park owned homes.

Location Description

The Palms is located in the city of Hemet, in Riverside County.

Park Information

Number of MH Lots:98
Total Occupancy:70.0%
Year Built:1970
Average MH Lot Rent: $362
Size:9.3 acre(s)

Financial Information (Actual)

Net Operating Income$205,189
Debt Info

Lot Information

Doublewide Lots:98

Utility Information

Water:City
Water Paid By: Park
Sewer:Septic

Park-Owned Homes

Number of Park-owned Homes:6
Average Rent for Park-owned Homes: $410

Amenities and Other

Laundromat: Yes
Pool: Yes
Club House: Yes
Storage: Yes