Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park

Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 13.0%
  • Listing ID: 549576
  • Posted On: Jul 23, 2015
  • Updated On: Oct 2, 2015

Description

This Money Making Mobile Home Community is located on the Barstow Hwy which is the main thoroughfare from the North into the Lucerne Valley, Big Bear, and Victorville. Just north-west of Yucca Valley, Ca, . Park has 30 Spaces with 15 occupied & 15 vacant now that are built out and room for 50 more. You’re not paying for Blue Sky when you buy this property. Income is now Positive. There are currently 15 vacant spaces. Rents on Jan 1, 2016 will be $295 each. Electric meters are sub metered/pass-thru to the residents. The park is on an inexpensive unlimited water well (average $80 a month) Owners could water a new landscaping package, with the park's private well can be used for irrigation. The existing septic system appears to be ok and in no need of major repairs. Current operations are not optimized and repair expenses are very low. IE: plan on buying 10+ RV’s @ $5-6,000 and rent them out for additional $4-5,000 a month? The park could have a spacious clubhouse and lawn area with a very nice pool.(since discontinued). Please contact broker for a complete review and breakdown of the current expense items. This is a great opportunity to turn the park around for substantial increased cash flow. Now 30+ spaces and Owners (Could be a clubhouse) house on one lot, The second lot (9) ready for Additional 50 more Spaces for Mobile/ Rv’s.. This is a value added park, Needs new Management and Direction. Now rental ready: 30 Rentable Lots Asking Price Per Space: $16,333 BRE# 00557923 (760) 408-8998

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Park Information

Community Type: All Age
Number of MH Lots: 30
Total Occupancy: 50.0 %
Year Built: 1960
Average MH Lot Rent: $295
Size: 9 acre(s)

Financial Information (Pro Forma)

Gross Income: $100
Operating Expense: $35,000
Net Operating Income: $65,000
Expense Ratio: 35000.0 %
Debt Info: SCHEDULED INCOME

Lot Information

Singlewide Lots: 30

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 2
Average Rent for Park-owned Homes: $500