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2708 Erskine Creek Rd - Palace Ranch Mobile Home Park 1,200 SF Specialty Building Offered at $388,000 at a 9.69% Cap Rate in Lake Isabella, CA 93240
INVESTMENT HIGHLIGHTS
- Central to all conveniences
- Very affordable living - high demand park
- next to the beautiful Lake Isabella and surroundings -gateway to the Southern Sierras
EXECUTIVE SUMMARY
Palace Ranch Mobile Home Park is an active long-time park in the unincorporated area of Lake Isabella, CA. The 55+ community is just to the south of the beautiful Lake Isabella, in Kern County. The park is on about 2 acres. There are officially total potential 36 rents: 34 spaces for Mobile Homes or RV’s, a duplex, a Manager’s SFR with 2-car garage, and a storage building. Both duplex units are 1bed/1bath. Currently the on-site manager is collecting 18 rents. There is potential for a new owner to monetize the other 18 units, as well as other upside opportunities. The park has happy long-term residents with an average 15 years residency. Sellers will not finance. Sellers are firm on price.
DATA ROOM Click Here to Access
- Operating and Financials
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$76,330
|
$63.61
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$76,330
|
$63.61
|
| Taxes |
$11,743
|
$9.79
|
| Operating Expenses |
$38,778
|
$32.32
|
| Total Expenses |
$50,521
|
$42.10
|
| Net Operating Income |
$25,809
|
$21.51
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $76,330 |
| Annual Per SF | $63.61 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $76,330 |
| Annual Per SF | $63.61 |
| Taxes | |
|---|---|
| Annual | $11,743 |
| Annual Per SF | $9.79 |
| Operating Expenses | |
|---|---|
| Annual | $38,778 |
| Annual Per SF | $32.32 |
| Total Expenses | |
|---|---|
| Annual | $50,521 |
| Annual Per SF | $42.10 |
| Net Operating Income | |
|---|---|
| Annual | $25,809 |
| Annual Per SF | $21.51 |
PROPERTY FACTS Under Contract
| Price | $388,000 | Lot Size | 2.00 AC |
| Price Per SF | $323.33 | Building Size | 1,200 SF |
| Sale Type | Investment | No. Stories | 1 |
| Cap Rate | 9.69% | Year Built | 1995 |
| Property Type | Specialty | ||
| Zoning | MH - MH | ||
| Price | $388,000 |
| Price Per SF | $323.33 |
| Sale Type | Investment |
| Cap Rate | 9.69% |
| Property Type | Specialty |
| Lot Size | 2.00 AC |
| Building Size | 1,200 SF |
| No. Stories | 1 |
| Year Built | 1995 |
| Zoning | MH - MH |
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2708 Erskine Creek Rd - Palace Ranch Mobile Home Park
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