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

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