Contact Information

Mobile Home Park Details

  • Price: $1,700,000
  • Purchase Method: Cash
  • Property ID: 957971
  • Posted on Jun 13, 2018

Property Description

PROPERTY DESCRIPTION AND RENTAL INFORMATION. For sale by owner. Clean 44 space park on the Sacramento River with some of the mobile homes with river views. Low turnover, permanent RV tenants. Owner will share 10 years of P&Ls. Reasonable rental rates of $410 for the mh sites and $330-$340 for the sites with permanent RV’s. No rent control in the unincorporated area of Red Bluff in Tehama County. All of the mobile home sites have direct bill electric and some of the RV sites. The park also charges $16 per month for water and $5.79 per month for trash. One rental mobile home included in the sale. Park road down to the river where a former owner used to rent tent sites. Small office building and laundry room. County boat launch on the other side of the river from the park. Here are the highlights:

• 2018 NOI projected at $125K (same as the running average 2014-2017)
• Financing secured, $550K down, loan fixed at 5.5%, 5 years, price $1.7M
• Appraised (Colliers) in 2015, $1.54M
• Rents below market and there’s some upside opportunity
• 44 spaces, 27 MH and 17 permanent RV (easy to fill when vacant)
• 9 spaces with Sacramento River views!
• Central Valley location (no rent control,) north of Sacramento
• Country property with private utilities, all well maintained and operating trouble free (reports available from vendors and County)
• Strong, experienced manager has lived in the park 10+ years
• Full disclosures and 9+ years of financial records available for buyer

Amenities

  • Laundromat
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Park Information

Community Type: All Age
Number of MH Lots: 27
Total Occupancy: 95.0 %
Year Built: 1965
Average MH Lot Rent: $384
Size: 7.7 acre(s)

Lot Information

Singlewide Lots: 14
Doublewide Lots: 13

RV Information

Number of RV Lots: 17
Average RV Lot Rent: $390

Utility Information

Water: Well
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 1
Average Rent for Park-owned Homes: $825

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