36342 Highway 78 18 Unit Mobile Home Park $2,499,000 ($138,833/Unit) 6.03% Cap Rate Julian, CA 92036

Banner Ranch is a 70.36-acre mixed-use property offered at $2,499,000, located in Julian, CA within San Diego County's scenic backcountry. The Property consists of 17 HCD-permitted manufactured home sites, 11 primitive campground sites, two covered wagon short-term rentals, one saloon and store building, one three-bed, one-bath ranch house, one leased cell tower, and common area facilities including bathrooms, showers, and laundry. The offering presents a compelling value-add opportunity driven by campground optimization, saloon and store repositioning, and expense reduction.
The 17 manufactured home sites are 100% occupied and include a mix of park-owned and tenant-owned homes. 11 of the 13 park-owned homes are leased long-term at an average of $1,390 per month, with the remaining two operated as short-term rentals. The four tenant-owned home sites carry an average space rent of $950 per month. Water, septic, and trash are included in rent, with electric submetered and billed back to tenants. The park-owned homes – predominantly tiny home/park models – are included in the sale.
The property is served by a private well and septic system, both recently repaired. Since acquiring Banner Ranch in 2020, the owner has invested approximately $1,000,000 into the property. Improvements include critical upgrades and repairs to the water and septic systems, repairs and remodeling of the store/saloon building and site-built house, purchase and installation of 13 tiny home park models, 2 covered wagons and 8 storage sheds, and general cleanup and repairs throughout the property.
The property is operated by a resident manager who occupies the on-site ranch house rent-free and receives a monthly salary. Manager responsibilities include tenant and vendor coordination, day-to-day maintenance, and direct operation of the campground, store, and saloon. A buyer may explore leasing the saloon and store to an outside operator as a path to reducing management complexity and improving net income.
Banner Ranch is strategically positioned to capture both local housing demand and regional tourism activity in San Diego County's backcountry. Just over an hour from central San Diego, Julian draws visitors year-round for its historic downtown, world-famous apple pies, and scenic natural beauty. The campground, covered wagons, and commercial amenities remain meaningfully underutilized, representing upside potential for an experienced operator. Banner Ranch offers a rare combination of stabilized residential income, short-term rental potential, and commercial upside within one of Southern California's most distinctive rural markets.
Please do not visit, drive through, call, or disturb the property or its residents without prior approval from the listing broker