Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 7.5%
  • Listing ID: 1495726
  • Posted On: Aug 12, 2021
  • Updated On: Sep 23, 2021

Description

Marcus & Millichap is pleased to present the opportunity to acquire a motel and mobile home/RV park located in Dunsmuir, California. Cave Springs Resort is an asset comprised of 10 motel rooms, 16 seasonal cabins, and 36 mobile home and RV spaces, all in an idyllic setting. The mobile home/RV park portion of the asset includes 8 park-owned homes that are currently rented out as an extension of the motel. The Resort is located right off the I-5 freeway and is nestled in next to the Sacramento River, with a beautiful overlook view of Mount Shasta. The Resort offers 10 clean and tidy motel rooms as well as 16 seasonal cabins that are described by the owner as a “step back in time”. The cabins were built in 1923 and offer a vacation experience unique in today’s world. The Resort also features a pool, shower house for RV travelers, and on-site laundry facilities.

This asset offers investors the opportunity to acquire a property with multiple income streams that have a significant amount of rent from the mobile home/ RV park, and revenue from the motel and cabin rentals. The current rent in the mobile home and RV park are $247 for mobile home spaces and $420 for RV spaces. The market for mobile home spaces is currently between $450 and $550 per month. Currently, owner does not recover any of the utility charges in the mobile home and RV park.

Location

► Conveniently located near Mount Shasta and Mount Shasta Ski Park
► Right along I-5 and the Sacramento River
► Scenic views of the Shasta Mountain Range and Sacramento
River from the resort’s backyard
► Endless activities: Hiking, fishing, biking, skiing, rafting, railfanning, etc
► Family friendly city with many parks and sights
► Within close proximity to many waterfalls and trails
► Surrounded by beautiful lush forests and natural wonders

Amenities

  • Pool
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Park Information

Community Type: All Age
Number of MH Lots: 36
Total Occupancy: 95.0 %
Year Built: 1923
Size: 6 acre(s)

Financial Information (Actual)

Gross Income: $534,647
Operating Expense: $349,229
Net Operating Income: $185,418
Expense Ratio: 65.3 %

Utility Information

Water: City
Sewer: City

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