Mobile Home Park Details
- Purchase Method: Seller Financing
- Cap Rate: 8.0%
- Listing ID: 780150
- Posted On: Jan 25, 2017
- Updated On: Mar 29, 2017
Description
Running Springs Mobile Home park is located in Lakeport in northern California. Lake County is just above Napa Ca. and east of Mendocino Ca. We are located on the largest natural lake that is 100% in California. The park has 16 mobile home spaces that are full. It also has one large 1 bedroom block home that is rented and a mobile home that is owned by the park that is also rented. There is one additional building that could be converted to and additional rental. The sellers are in the process of doing a lot line adjustment that will remove most of the vacant land and they have adjusted the asking price accordingly. The sale will be subject to the lot line adjustment being completed. A map of the proposed new lot line is in with the photos
Park Information
Community Type: | All Age |
Number of MH Lots: | 16 |
Total Occupancy: | 100.0 % |
Year Built: | 0 |
Average MH Lot Rent: | $370 |
Size: | 2 acre(s) |
Financial Information (Actual)
Gross Income: | $79 |
Operating Expense: | $23 |
Net Operating Income: | $56 |
Expense Ratio: | 29.1 % |
Lot Information
Singlewide Lots: | 16 |
Utility Information
Water: | City |
Water Paid By: | Park |
Sewer: | City |
Park-Owned Homes
Number of Park-owned Homes: | 2 |
Average Rent for Park-owned Homes: | $600 |