Buckhorn MHP - 48 Spaces 26600 CA-88 48 Unit Mobile Home Park $1,750,000 ($36,458/Unit) 11.81% Cap Rate Pioneer, CA 95666

Buckhorn MHP is a 48-site, all-age community in an Opportunity Zone in Pioneer, CA being offered for $1,750,000 ($36,458 per site). Seller financing is available for qualified buyers, subject to seller's approval, with $875,000 down payment, 7 year term, and 4% I/O rate. 30 sites are currently occupied by long term residents with tenant-owned homes. There are 18 vacant units at Buckhorn MHP, presenting the opportunity for a new owner to grow occupancy by in-filling homes. Occupancy within the set of comparable parks nearby averaged over 90%. Furthering Buckhorn MHP’s potential, its average rents are $650 per month, which is approximately 15% less than the comparable set average of $773.
Buckhorn MHP benefits from directly billed electric and gas utilities for each space. Waste is handled by a private septic system consisting of three tanks and leach fields. Public water is provided by Amador Water Agency through a master meter. Currently, only a handful of the tenants are being billed for water at a flat rate. There is potential for the new owner to expand billing for water and septic services. Buckhorn MHP’s street coverings are a combination of asphalt and dirt and there is a laundry room with recently updated leased machines.
Buckhorn MHP is directly adjacent to a Chevron Gas and Convenience store and across the street from a Dollar General. It is also a short drive away from multiple outdoor recreation options in Pioneer and nearby Pine Grove. Jackson, CA is approximately 20minutes away from Buckhorn MHP, offering major services, employment and entertainment. Within a 90 minute drive, Buckhorn MHP can access Sacramento, Stockton, and Lake Tahoe, CA.