Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 7.1%
- Listing ID: 1352294
- Posted On: Nov 7, 2020
- Updated On: Feb 5, 2021
Description
Golden Acres Mobile Home and RV Park located at 3732 State Highway 20, Marysville, CA features twelve (12) single-wide Mobile Home spaces; (6) RV spaces; one (1) Single-Family Home (park-owned), and a manager's office plus 29 acres for future development.
Golden Acres is 100% leased and each mobile home space is separately metered, the RV spaces are sub-metered and the tenants obtain their own propane gas. Each site has full hook-ups to water, sewer, and electrical service.
The owner reads the meters for the RV spaces and the RV tenants pay their portion of electricity along with their monthly rent. The Mobile Home spaces pay their electrical meter directly to PG&E.
There's a non-functional laundry facility with bathrooms that can be renovated to create additional income.
The water service (tested quarterly) is via a well system and the sewer via a septic tank with leach field.
The property sits on 29 flat acres that has development potential for additional Mobile Home and RV spaces plus potentially onsite storage units for residents. The previous owner had a schematic design only (requires local and HCD approval plus adding septic, water, electrical, etc.) for an additional (21) RV plus (28) Mobile Home spaces.
Location
Golden Acres Mobile Home and RV Park is located in the unincorporated sector of Marysville surrounded by agricultural farm land. Commercial anchored amenities are just 10-15 minutes away in dowtown Marysville and to Yuba City. The property is easily accessible from Highway 20 and visible through frontage signage.
Amenities
- Laundromat
- Storage
Park Information
Number of MH Lots: | 19 |
Total Occupancy: | 100.0 % |
Year Built: | 1948 |
Average MH Lot Rent: | $450 |
Size: | 30 acre(s) |
Financial Information (Actual)
Gross Income: | $90,654 |
Operating Expense: | $31,375 |
Net Operating Income: | $56,520 |
Expense Ratio: | 34.6 % |
Lot Information
Singlewide Lots: | 11 |
RV Information
Number of RV Lots: | 8 |
Average RV Lot Rent: | $400 |
Utility Information
Water: | Well |
Water Paid By: | Park |
Sewer: | Septic |
Park-Owned Homes
Number of Park-owned Homes: | 1 |
Average Rent for Park-owned Homes: | $1,300 |