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Westwind 11270 Konocti Vista Dr 43 Unit Mobile Home Park $3,400,000 ($79,070/Unit) 5.72% Cap Rate Lower Lake, CA 95457
INVESTMENT HIGHLIGHTS
- Non Rent Controlled Market
- Pool, Boat Dock, BBQ Area, RV Storage
- 55+ Community
EXECUTIVE SUMMARY
Westwind Mobile Home Park is located at 11270 Konocti Vista Drive in Lower Lake, California. The park is licensed for 42 mobile homes and currently consists of 19 SW, 22
DW, and 1 Duplex. One of the MH Units sits on 2 MH sites, sites #20 & #21. This is an age restricted park (55+) that has the feel and amenities of a senior retirement community. It is insulated by geography with the mountains on one side and Clearlake on the other. Amenities include a boat dock area, pool, BBQ space and RV Storage. Lower Lake is a quiet, retirement oriented community located approximately 100 miles from Downtown San Francisco and 95 miles from Downtown Sacramento. Lower Lake is located in Lake County, on the southern shore of Clear Lake, which is the largest natural lake in California.
The park is serviced by an on-site septic system that has recently been upgraded. Tenants are charged $36.80 monthly for sewer. Water is pulled from Clearlake and is run through a brand new purification and filtration system that the current owners have spent over $200,000 on. Tenants are billed $86.50 monthly for water plus usage. Propane is provided by Westgate Petroleum, and Electricity is provided by PG&E. Both are sub-metered to the residents. The tenants are billed a flat rate for Garbage of $35.54 monthly.
DW, and 1 Duplex. One of the MH Units sits on 2 MH sites, sites #20 & #21. This is an age restricted park (55+) that has the feel and amenities of a senior retirement community. It is insulated by geography with the mountains on one side and Clearlake on the other. Amenities include a boat dock area, pool, BBQ space and RV Storage. Lower Lake is a quiet, retirement oriented community located approximately 100 miles from Downtown San Francisco and 95 miles from Downtown Sacramento. Lower Lake is located in Lake County, on the southern shore of Clear Lake, which is the largest natural lake in California.
The park is serviced by an on-site septic system that has recently been upgraded. Tenants are charged $36.80 monthly for sewer. Water is pulled from Clearlake and is run through a brand new purification and filtration system that the current owners have spent over $200,000 on. Tenants are billed $86.50 monthly for water plus usage. Propane is provided by Westgate Petroleum, and Electricity is provided by PG&E. Both are sub-metered to the residents. The tenants are billed a flat rate for Garbage of $35.54 monthly.
PROPERTY FACTS
| Price | $3,400,000 | Building Class | C |
| Price Per Unit | $79,070 | Lot Size | 12.00 AC |
| Sale Type | Investment | Building Size | 56,966 SF |
| Cap Rate | 5.72% | Average Occupancy | 98% |
| No. Units | 43 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1976 |
| Property Subtype | Manufactured Housing/Mobile Home | ||
| Zoning | R | ||
| Price | $3,400,000 |
| Price Per Unit | $79,070 |
| Sale Type | Investment |
| Cap Rate | 5.72% |
| No. Units | 43 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Building Class | C |
| Lot Size | 12.00 AC |
| Building Size | 56,966 SF |
| Average Occupancy | 98% |
| No. Stories | 1 |
| Year Built | 1976 |
| Zoning | R |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 43 | - | 1,400 |
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Westwind | 11270 Konocti Vista Dr
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