Mobile Home Park Details
- Cap Rate: 6.5%
- Listing ID: 1378507
- Posted On: Jan 13, 2021
- Updated On: Apr 18, 2021
Description
New Orchard Mobile Home Park is a Senior Community in Los Molinos, California.
The Park consists of Forty Three spaces and a House, divided into a Manufactured Home section, and an RV section. Seventeen spaces are occupied by Double Wide homes, Twelve are Single Wides and Twelve spaces have long term occupancy RVs and Fifth Wheels.
The park is on a flat 10 acre parcel. It was built in 1975 and was formerly a prune and walnut orchard with the RV section. There are over four hundred feet of Highway 99 frontage and an attractive single family home at the front entrance.
The Park has over four acres of open space. The asphalt streets in the Manufactured Home section were just re-surfaced, and they have rolled concrete curb and gutter.
Almost every Manufactured Home space has large mature shade trees, neat and well-maintained yards, and the homes attractively angled towards the street. All Manufactured Homes have off street parking on concrete driveways with awning style carports, and decks.
The Park operates on chlorinated well water and a trouble free private sewer system. It appears that City Water will be coming to the Park in 2021. Electricity is sub-metered to each space, including the RV spaces. Propane is supplied to, and submetered to the Mobile Home spaces only.
There are two vacant Manufactured Home spaces, well located within the Park, and no homes were observed to be for sale. Residents pay $395-$445 space rent, which includes water, sewer and garbage. Rents were raised $20 as of January 1, 2021.
Los Molinos is a rural agricultural community between Corning and Red Bluff in the Northern Sacramento Valley. Highway 99 in this area is dotted with ranches, walnut orchards, pastures and farm stands.
Amenities
- Laundromat
Park Information
Community Type: | 55 And Over |
Number of MH Lots: | 44 |
Total Occupancy: | 95.5 % |
Year Built: | 1975 |
Average MH Lot Rent: | $437 |
Size: | 10 acre(s) |
Financial Information (Actual)
Gross Income: | $278,848 |
Operating Expense: | $144,273 |
Net Operating Income: | $130,143 |
Expense Ratio: | 51.7 % |
Lot Information
Singlewide Lots: | 12 |
Doublewide Lots: | 19 |
Triplewide Lots: | 0 |
Park Model Lots: | 0 |
RV Information
Number of RV Lots: | 12 |
Average RV Lot Rent: | $423 |
Utility Information
Water: | Well |
Water Paid By: | Park |
Sewer: | Septic |