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Browse More Listings in Multifamily For Sale, Hemet, CA or California

Multifamily Property For Sale

Sunrise Mobile Home Park

1920 E. Florida Ave, Hemet, CA 92544

Paved Roads/Nice Landscape in the Heart of Hemet

Price:
$2,395,000
No. Spaces:
45
Price/Space:
$53,222.22
Property Type:
Multifamily
Property Sub-type:
Mobile Home/ RV Community
Property Use Type:
Investment
Commission Split:
2%
Cap Rate:
7.30%
Occupancy:
100%
Lot Size:
3.31 AC
Find Out More...

Last Verified 10/22/2009 Listing ID 15380820

Highlights

Located next to Chase Bank in the Heart of Downtown Hemet
Low-Maintenance, Low-Expense Park
On-Site Manager; Valley Computer Services @ low cost of $114.00/month

All Rents = $350/month
CAP = 7.300%
Great Income

Description

Reduced price as of 6/01/09; CAP =7.300%; Excellent Location in the Heart of Downtown Hemet. This 45 Unit Park is well maintained with an on-site Manager and billings/accounting done by Valley Computer Service. ALL utilities are on separate meters and paid for by tenant including Electricity, Gas, Water, and even Trash; Low maintenance, Great Rental Income; Management/Owners have increased the overall value of the park by a complete overhaul and makeover since purchased. 100% occupied. Adjacent Lot, which consist of two parcels (1.48 acre parcel and a .74 acre parcel =2.21 acres), is also for Sale at $495K and can be developed into more lots (apprx. 25-30 spaces) OR any other multi-family units.

Reduced price as of 6/01/09; Located in the Heart of Downtown Hemet. All rents $350.00 effective APRIL 1, 2009; CAP =7.300%; (NI =$175K / Sale price =$2,395,000 =CAP 7.300%).

Financial Summary

Actual
Year
2009
Scheduled Gross Income
$219,984
Effective Gross Income
$219,984
Operating Expenses
$45,070
Net Operating Income
$174,914

Map of 1920 E. Florida Ave, Hemet, CA 92544 (Riverside County)

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Created 10/10/2007

Additional Information for 1920 E Florida Avenue, Hemet, CA 92544

Active For Sale - 1 Listing
Active For Lease - 0 Listing
Previously Listed - 1 Historic Listing
Sales Comparables Available - 1 RecentSales Record

View additional information for the property view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.

The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

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Multifamily Property For Sale - Sunrise Mobile Home Park

1920 E. Florida Ave, Hemet, CA, 92544