Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 6.0%
- Listing ID: 1494876
- Posted On: Aug 11, 2021
- Updated On: Nov 18, 2021
Description
Shady Rest Mobile Home Park is an all-age community comprised of 23 total spaces situated in the City of Oroville in Butte County, CA. The property is located to the east of CA Route 70, within minutes of downtown Oroville and only a 1 hour 20 min drive to Sacramento. The most notable attraction in Oroville is Lake Oroville which is a short 12- minute (6.3 mi) drive from the property. Lake Oroville and the surrounding areas offer recreational activities throughout the year, including skiing, sailing, swimming, fishing, and camping. Shady Rest MHP is a unique opportunity to acquire a fully occupied property in one of the fastest-growing cities in Northern California.
To receive an Offering Memorandum, please reach out to Tim Ryan, Vice President of Investments at CRI Commercial
(310) 862-6103 | tryan@cricommercial.com
Location
The property is located to the east of CA Route 70, within minutes of downtown Oroville and only a 1 hour 20 min drive to Sacramento.
Park Information
Community Type: | All Age |
Number of MH Lots: | 23 |
Total Occupancy: | 100.0 % |
Year Built: | 1946 |
Average MH Lot Rent: | $279 |
Size: | 2 acre(s) |
Financial Information (Actual)
Gross Income: | $162,029 |
Operating Expense: | $89,955 |
Net Operating Income: | $72,074 |
Expense Ratio: | 55.5 % |
RV Information
Number of RV Lots: | 1 |
Average RV Lot Rent: | $279 |
Utility Information
Water: | City |
Sewer: | City |
Park-Owned Homes
Number of Park-owned Homes: | 18 |
Average Rent for Park-owned Homes: | $598 |