Mobile Home Park Details

  • Price:
  • Purchase Method: Cash, Seller Financing, New Loan, Assumable Loan
  • Land: This is land for developing a mobile home park
  • Cap Rate: 6.2%
  • Property ID: 831826
  • Posted on Jul 12, 2017

Property Description

Executive Summary By Maureen Caldwell-Meurer

REDDING VILLAGE MOBILE HOME PARK
2700 South Market Street
PROPERTY OVERVIEW
Redding Village Mobile Home Park- Great Investor Opportunity
Total lots/units available - 59
current pad sites - 45
City Approved 14 pad sites
Engineering for 14 pad sites in HCD
6 more pad sites available - needs approval
City Water and Sewer
Assumable Loan - at $4.75!
Loan balance $650K

PROPERTY FEATURES
Great Investor Opportunity
Total Units/Lots available = 65
Water and Sewer Rate

Sundial Bridge and Turtle Bay Eco Park

Location

LOCATION OVERVIEW Great Add Value Investor Opportunity to buy a Mobile Home Park. Rich historical background of Redding development. The 5.14 acres of Redding Village was originally the base camp for the Pony Express and Mule Train Operators. The park offers a country homey atmosphere with 45 mobile home spaces, 36 currently leased spaces. Redwood Fenced Perimeter. Engineered plans for 14 more pads, totaling 59 pads. There are spaces for a total of 65 pads. The park is shaded by a canape of trees throughout the community. *Established in the 1930s, Redding Village park was later developed into a mobile home park. Redding amenities include the *Famous Sundial Bridge - Turtle Bay Eco Park - 14,000 Visitors *Starwood Hotel development being developed by Turtle Bay Eco Park, bringing visitors to a Park destination $5 million in Profits going into the Park and Community, plus and Industrial Parkway being built.

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

Park Information

Community Type: All Age
Number of MH Lots: 59
Total Occupancy: 72.0 %
Year Built: 1950
Average MH Lot Rent: $330
Size: 5.1 acre(s)

Financial Information (Actual)

Gross Income $194,000
Operating Expense $102,000
Net Operating Income $110,000
Expense Ratio 52.6 %
Debt Info

Utility Information

Sewer: Septic

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