Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan, Assumable Loan
- Cap Rate: 10.7%
- Listing ID: 69099
- Posted On: Apr 29, 2011
- Updated On: Apr 4, 2012
Description
Rebel Ridge Village
14437 Old Marysville Road
Camptonville, CA 95922
This is a wonderful opportunity for an owner/operator who wants to live in a beautiful country like setting and operate a “pride of ownership†park in a “Sportsman’s Paradise†located in the Tahoe National Forest. For the owner that prefers professional onsite management, we can accommodate you with any level of your participation that you desire. This area is known as the Gold Country with many historic towns nearby. The park is located about 40 miles from Marysville, and 20 miles from Nevada City and like many foothill locations, is a growing migration of people from the urban areas, and cities who are moving to the foothills for a higher quality of life.
Rebel Ridge Village is a very well maintained park situated on approximately twenty five acres with a beautiful assortment of pines, madrones, oaks, cedars, and dogwoods which provide the park with excellent shade. There are thirty-seven permitted spaces and a clubhouse that contains a large kitchen, fireplace, meeting room, and billiard room. The park office is also located in the clubhouse facility. There are currently twenty-two wood sided, composition roof manufactured homes on twenty three spaces. Two homes share three of the spaces and pay additional rent for the extra space. There is one park owned singlewide manufactured home that is ready to rent for $600 per month.
The existing first loan of $430k may possibly be assumed 6% int amortized 30 yrs. due 5 yrs.
There is also room for expansion, however no plans have been submitted or approved for expansion. A great area for additional R.V. spaces!
There is a beautiful custom-built owner’s home that is approximately 14 years old. The home is approximately 2100 square feet which includes three bedrooms, two and one half baths, spacious living room, nice kitchen, a screen room, and a two car garage. It is currently leased for $1675 per month.The park also includes all of the necessary equipment to properly operate the business.
Utilities: Sewer is provided by septic tanks and all tanks are pumped out on a routine basis.
The park is served with well water from an excellent well. All homes have water meters and are charged $ 22 per month for water usage.
Pacific Gas and Electric provide electricity and residents are billed directly by P.G.&E.
The utility company owns and maintains the electrical system. The underground propane system is owned by the park, but is metered, billed, and serviced by Suburban Propane.
The park provides garbage service. Garbage is included in the space rent, and paid by the park.
Location
Rebel Ridge Village is located at 14437 Old Marysville Road near the town of Camptonville, California. The park is situated in a beautiful park like setting at the entrance to Bullard’s Bar Reservoir with 55 miles of shoreline, great for water sports ie: house boating, water skiing, jet skiing, camping, and great fishing!
Amenities
- Club House
Park Information
Community Type: | 55 And Over |
Number of MH Lots: | 37 |
Total Occupancy: | 60.0 % |
Year Built: | 1982 |
Average MH Lot Rent: | $342 |
Size: | 25 acre(s) |
Financial Information (Actual)
Gross Income: | $121,183 |
Operating Expense: | $22,242 |
Net Operating Income: | $98,941 |
Expense Ratio: | 18.4 % |
Debt Info: | Rent has not been raised for 5 years! |
Lot Information
Doublewide Lots: | 37 |
RV Information
Number of RV Lots: | 14 |
Average RV Lot Rent: | $350 |
Utility Information
Water: | Well |
Water Paid By: | Tenant - Submetered |
Sewer: | Septic |
Park-Owned Homes
Number of Park-owned Homes: | 1 |
Average Rent for Park-owned Homes: | $600 |