Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 7.5%
- Listing ID: 1347283
- Posted On: Oct 28, 2020
- Updated On: Jan 22, 2021
Description
*Excellent opportunity to acquire a stable, well-maintained Mobile Home Park* Expansion potential for up to 6-12 additional pad sites on top portion of property (Buyer to obtain local and HCD approval).*
Sutter Pines Mobile Home Park is nestled in the foothills of Jackson, CA near Sutter Medical Hospital, Mule Creek State Prison, Jackson Rancheria Casino & Resort, newly constructed Harrah's Casino & Resort, and Wineries.
Sutter Pines is a 95-100% leased community situated on 4.37 acres and features 19 units which are comprised of (9) Cottage/SFR dwelling units owned by Sutter Pines and (10) Mobile Home/RV Pad spaces. The ownership has made significant capital improvements. The water treatment system has been replaced within the past two years, a duplex has been newly built, and new electrical meters have been added so that tenants are fully responsible for utility payment. As well, the park has seen upgrades to well, landscaping, signage, paving and storage.
Sutter Pines is separately metered for electrical, propane is provided by a 3rd party paid by tenants through metered use, RV and Mobile Home spaces all have utility hook-ups. Water, water treatment, and sewer/septic is paid by Owner, with RUBS bill back to tenants.
Sutter Pines is ideal for an investor seeking a low maintenance property, with solid cash-flow, and a great mix of dwelling units to compliment the pad spaces.
Location
The Park is located less than 1 mile from the Sutter Regional Hospital and in close proximity to major retail centers featuring Walmart, Safeway, Petco, Lowe's, Starbucks, Autozone, Jack N The Box, Rountable Pizza, Carls, Jr., Jamba Juice, Les Schwab, America's Tire's Discount and more.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 19 |
| Total Occupancy: | 95.0 % |
| Average MH Lot Rent: | $492 |
| Size: | 4 acre(s) |
Financial Information (Actual)
| Gross Income: | $159,209 |
| Operating Expense: | $52,307 |
| Net Operating Income: | $100,720 |
| Expense Ratio: | 32.9 % |
| Debt Info: | Clear |
Lot Information
| Singlewide Lots: | 11 |
| Doublewide Lots: | 0 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 0 |
RV Information
| Number of RV Lots: | 8 |
| Average RV Lot Rent: | $488 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 9 |
| Average Rent for Park-owned Homes: | $959 |
