Southern California Mobile Home Park For Sale, Pacific West Region

Property Description

Southern California Mobile Home Park For Sale

84 Mobile Homes owned by the Tenants allowing ALL expenses to pass through to the Tenants of the Park.

The 7.48 acre property is zoned mixed-use 40 (M-4-40) allowing 40 dwelling units/acre.

No. of Spaces: 84 Mobile Home Spaces (Tenant Owned) & Clubhouse

Lot Size: 7.48 AC (325,828 SF)

Occupancy: 100%

Space Rate:s $406-$688 (All expenses paid to Tenants, including property taxes)

Utilities: Paid by Tenant (Sub-Metered)

Age Restrictions: None

Rent Control: Subject to City Mobile Home Park Accord & Model Lease

Parking: All Spaces have assigned parking

PROPERTY HIGHLIGHTS

All expenses pass through to tenants

Rare Southern California Mobile Home Park

100% occupied with long term occupants

All tenant owned mobile homes

On-Site Laundry

Property has a mobile home park accord through 12/31/35 that limits annual increases by CPI.

FINANCIAL HIGHLIGHTS / ANALYSIS

Price: $12,500,000

Price/Space: $148,809

No. of Spaces: 84

Lot Size: 7.48 AC (325,828 SF)

Year Built: 1955

Occupancy (Current): 100%

2017 NOI: $534,583

Estimated First Year NOI: $545,275

First Year CAP Rate: 4.36%

» ALL EXPENSES PASS TO TENANTS including property taxes, utilities, maintenance, insurance, government fees, capital improvements, etc. Pass-through expenses will be provided upon request.

» Estimated Rent increase of 2% based on CPI 4/1/18

» Property has a mobile home park accord through December 31, 2035 that limits annual increases by CPI.

---

Mobile Home Parks For Sale

---

Images

The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.