This Multifamily Property is Off-Market.

2963 Santa Rosa Avenue
Santa Rosa, CA 95407 ·

55 Spaces · Multifamily For Sale

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Sunset Mobile Home Park

Price N/A Cap Rate 7.10%
No. Spaces 55 Occupancy 95%
Property Type Multifamily Year Built 1965
Property Sub-type
Mobile Home/RV Community
More...
  • Garden/Low-Rise
Lot Size 3.85 AC
Property Use Type Investment APN / Parcel ID 043-132-014
Commission Split 2%
Listing ID: 15063248 Date Created: 03/27/2007 Last Updated: 12/05/2007

Description

All ages park with 43 mobile home sites with eight rental homes (1-one bedroom, 1-three bedroom, and six two bedrooms, plus a very nice, 3 bedroom manager home and office), 10 RV sites, a 1 BR/BA house, and a 3BR/1BA house. The mobile home sites rent for $275-$450, the rental mobile homes for $900-$950, and the 1 BR house for $850 and the 3 BR house for $1,050. The gas and electric utilities are submetered, the water is submetered and provided by a well, but with city water available in the street, trash is billed direct, and city sewer is charged to the residents at $17.00 per month. The park is located in the City of Santa Rosa and subject to their rent control ordinance which limits annual rent increases to 80% of the cpi and a 10% rent increase on resident turnover. However, the rent control does not affect 30 of the 55 sites/houses. The rent control ordinance does not affect the RV sites, the rental homes, and the 13 newer sites built in 1994. Approximately 14,000 vacant square feet area in back of park for potential extra spaces or storage.

The park is located on the busy, commercial Santa Rosa Avenue and surrounded by shopping center and retail uses. The owner has an appraisal based on the commercial land value at $28/square foot.

Highlights

  • Excellent Santa Rosa, County of Sonoma Location
  • Reasonable Rent Levels with Upside
  • 43 MH Sites, 10 RV Sites, 2 Houses
  • 9 Rental Mobile Homes
  • Busy Commercial Street with Strong Land Value
  • $3,475,000

Research

2963 Santa Rosa Avenue, Santa Rosa, CA 95407 (Sonoma County)

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