Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 5.2%
- Listing ID: 1333268
- Posted On: Oct 1, 2020
- Updated On: Dec 31, 2020
Description
Low density, washer & dryers in Units! 4.4 acre in city of Poway. Five (5) 2/2's 940sf MFH's built 2004, Plus One (1) stick built 1.5 bath building approx 560sf. All five (5) manufactured homes are park owned, thus run more like and apartment bldg.
Zoning does not allow additional homes or lot splits.
5.2 cap on present NOI (~$75,400.) and anticipated typical expense + prop tax at sales price (~32,000). Rents are low for long term tenants, most recent rental contract is at $1,800.00
Small mobile home park, feels like a retreat with great views. Area of large estate homes and trails, near the base of Mt. Woodson.
Low expense well water and septic. Area for solar panels, accessory buildings, equipment, overflow parking or agriculture uses.
Drive by only, do not pull into driveway. Contact for apt to see the interior area and/or link with more photos.
Easements to be recorded for benefit of adjacent 2.4 acres parcel if not sold with this property. Location of easements to be determined by seller.
Value of the adjacent lot likely $100,000 to $300,000
Seller would like to sell mobile home park with adjacent lot.
Link to additional photos, plans and other info can be had by contacting Seller who is also a California licensed real estate broker DRE#01003134
Rent rolls and detailed financial history available to an interested buyer, after showing.
Video from Atop adjacent 2.4 acre parcel.
http://goo.gl/CZngJ4
Permitted by the State.
http://www.hcd.ca.gov/
https://www.hcd.ca.gov/casas/cmirMp/onlineQuery
type in Mobile Home Park number 37-1595-MP
Location
City of Poway! near corner of Hwy 67 and Mina De Oro Rd.
Amenities
- Storage
Park Information
Community Type: | All Age |
Number of MH Lots: | 5 |
Total Occupancy: | 100.0 % |
Year Built: | 19602004 |
Size: | 4 acre(s) |
Financial Information (Actual)
Gross Income: | $107,400 |
Operating Expense: | $16,000 |
Net Operating Income: | $75,400 |
Expense Ratio: | 14.9 % |
Lot Information
Singlewide Lots: | 5 |
RV Information
Number of RV Lots: | 0 |
Utility Information
Water: | Well |
Water Paid By: | Park |
Sewer: | Septic |