Aerial Photo
Aerial Photo
Sign and Entrance
Sign and Entrance
Clubhouse
Clubhouse
Upgraded Kitchen
Upgraded Kitchen
Swimming Pool
Swimming Pool
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
RV Storage
RV Storage
Aerial Photo
Sign and Entrance
Clubhouse
Upgraded Kitchen
Swimming Pool
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
RV Storage

Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 5.5%
  • Listing ID: 685328
  • Posted On: Jul 7, 2016
  • Updated On: Nov 2, 2017

Description

The Palms Mobile Estates and Storage is a 98-site mobile home park built in or about the 1970's and is situated on approximately 9.32 acres. Gas and electric are directly billed and paid by the residents. Water, trash and septic is paid by the landlord. The Palms includes an office, clubhouse, swimming pool and a laundry room. There are currently 22 vacant spaces and 6 park owned homes.

Location

The Palms is located in the city of Hemet, in Riverside County.

Amenities

  • Laundromat
  • Pool
  • Club House
  • Storage
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Park Information

Community Type: 55 And Over
Number of MH Lots: 98
Total Occupancy: 70.0 %
Year Built: 1970
Average MH Lot Rent: $362
Size: 9 acre(s)

Financial Information (Actual)

Net Operating Income: $205,189

Lot Information

Doublewide Lots: 98

Utility Information

Water: City
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 6
Average Rent for Park-owned Homes: $410