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
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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

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