Mobile Home Park Details

Cap Rate: 8.8%
Listing ID: 1667020
Posted On: May 12, 2022
Updated On: Jul 20, 2023

Description

FULLY-OCCUPIED ALL-AGES MHP WITH COMMERCIAL UPSIDE

Sierra Pines is a fully-occupied manufactured housing community located in the heart of Alpine County, just a half hour south of South Lake Tahoe. The park is situated on 10.4 acres and is comprised of a 30-space mobile home park and a 1,000 square foot apartment, for a total of 31 sites. The property also features a general store/restaurant space, petroleum pump, a meeting hall, and a newly-built management office.

The park is on private water and septic, with all manufactured home spaces occupied. The apartment is currently occupied by the owner. There are currently 25 park-owned units on the property. Additionally, there are architectural drawings to expand the park with an additional 45 spaces to be added on the south side of the property. To increase the amount of park spaces, a septic upgrade would be needed.

A new owner could increase revenue by operating or leasing the general store and fuel pump located on the premises, as well as utilizing the meeting hall space for events. There is additional upside in leasing the currently owner-occupied apartment.

Location

Sierra Pines Mobile Home Park is located in Markleeville, CA. Nestled in the Eastern Sierra Nevada mountains, Markleeville is just a 30-minute drive to South Lake Tahoe - a destination consistently ranked among the top to visit in the United States.

In close proximity to the park there are lakes, state parks, and outdoor recreation areas including Indian Creek Reservoir, a popular spot to fish for Rainbow Trout. Grover Hot Springs State Park is located on the east side of the Sierras at the edge of the Great Basin Province, characterized by open pineforest and sagebrush. The region features plenty of opportunities for lovers of hot springs, campgrounds, picnics, and hiking.

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