Mobile Home Park Details
- Purchase Method: Cash, New Loan, Assumable Loan
- Cap Rate: 7.1%
- Listing ID: 1461635
- Posted On: Jun 18, 2021
- Updated On: Jul 30, 2021
Description
*For Sale By Owner with Agent*
| Assumable Financing with no qualifying | City Water & Sewer | No Park-Owned Homes |
Valley Oaks Mobile Home Park is an excellent opportunity for an investor to acquire an easy to operate cash-cow with assumable financing (no qualifying necessary). Valley Oaks is comprised of 20 Mobile Home spaces, an 1,100 sf Single-Family Residence, plus an onsite laundry facility on CITY WATER AND CITY SEWER!
All rents are current, there were no delinquency during the 'pandemic shutdown', ownership just increased rents to $495.
In addition, there are Zero (0) park-owned homes except the SFR.
Location
Just one mile from Highway 99, Valley Oaks Mobile Home Park is conveniently located directly across the street from the Smart & Final retail center which also features credit rated businesses such as O'Reilly's Auto Parts. This makes it very convenient for residents of the park to shop for most of their commercial amenities in one location.
The City of Delano boasts a growing population of 53,000 plus the major employment sectors are Agriculture, (2) State Prisons, and Adventist Health Hospital. Futhermore, the city is serviced by Major Anchor businesses such as the WalMart Super Center, Home Depot, Smart & Final, Starbucks, Vallarta Markets, Planet Fitness, 99 Cent Only, Harbor Freight, and a new Hyatt Place Hotel.
Amenities
- Laundromat
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 21 |
| Total Occupancy: | 100.0 % |
| Year Built: | 1950 |
| Average MH Lot Rent: | $495 |
| Size: | 1 acre(s) |
Financial Information (Actual)
| Gross Income: | $130,700 |
| Operating Expense: | $36,933 |
| Net Operating Income: | $94,938 |
| Expense Ratio: | 28.3 % |
| Debt Info: | Assumable Loan +$700,000 |
Lot Information
| Singlewide Lots: | 20 |
| Doublewide Lots: | 0 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 0 |
RV Information
| Number of RV Lots: | 0 |
| Average RV Lot Rent: | $0 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 1 |
| Average Rent for Park-owned Homes: | $950 |