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Pine Grove Mobile Home Park 44614 State Highway 299 E 19 Unit Mobile Home Park $699,000 ($36,789/Unit) 11.55% Cap Rate Mcarthur, CA 96056
INVESTMENT HIGHLIGHTS
- Quiet family-friendly mobile home park in the beautiful Fall River Valley situated on 4 acres of pines and open space
- 12 mobile home spaces in addition to 1 house, 4 cabins and 2 RV spaces / all age community / 100% occupied
- Served by well and septic systems with sub-metered electric / all septic tanks pumped recently.
- Endless development opportunities on adjacent 6.4 acre parcel, included in this sale, zoned mixed use (residential, commercial, light industrial)
- 8 mini-storage buildings available for resident use
- Proforma Cap Rate 11.55% / Proforma NOI $80,756
EXECUTIVE SUMMARY
Beautiful family-friendly mobile home park in the heart of the peaceful Fall River Valley. This property consists of two adjacent parcels totaling 10.4 acres. The park includes 12 mobile homes, 1 single family home, 4 cabins and 2 RV spaces. In addition, there are 8 mini-storage buildings on site.
Electricity is sub-metered and the park has its own well for water supply. There are 5 well-maintained septic systems - all of them pumped within the last 4 years, the most recent being this year. A utility room attached to the house contains a coin-operated washer and dryer for resident use.
The two parcels include approximately 6 acres of tillable land and are zoned mixed use, suitable for residential, commercial or light industrial.
Electricity is sub-metered and the park has its own well for water supply. There are 5 well-maintained septic systems - all of them pumped within the last 4 years, the most recent being this year. A utility room attached to the house contains a coin-operated washer and dryer for resident use.
The two parcels include approximately 6 acres of tillable land and are zoned mixed use, suitable for residential, commercial or light industrial.
DATA ROOM Click Here to Access
- Operating and Financials
FINANCIAL SUMMARY (PRO FORMA - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$107,880
|
$10.79
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$27,124
|
$2.71
|
| Net Operating Income |
$80,756
|
$8.08
|
FINANCIAL SUMMARY (PRO FORMA - 2024)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $107,880 |
| Annual Per SF | $10.79 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $27,124 |
| Annual Per SF | $2.71 |
| Net Operating Income | |
|---|---|
| Annual | $80,756 |
| Annual Per SF | $8.08 |
PROPERTY FACTS
| Price | $699,000 | Building Class | C |
| Price Per Unit | $36,789 | Lot Size | 10.40 AC |
| Sale Type | Investment | Building Size | 10,000 SF |
| Cap Rate | 11.55% | Average Occupancy | 100% |
| No. Units | 19 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1960 |
| Property Subtype | Manufactured Housing/Mobile Home | Parking Ratio | 3.8/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | Mixed Use - Both adjacent lots are zoned Mixed Use(Residential, Commercial, Light Industrial). The larger 6.4 acre parcel includes the two RV spaces and well. | ||
| Price | $699,000 |
| Price Per Unit | $36,789 |
| Sale Type | Investment |
| Cap Rate | 11.55% |
| No. Units | 19 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 10.40 AC |
| Building Size | 10,000 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1960 |
| Parking Ratio | 3.8/1,000 SF |
| Zoning | Mixed Use - Both adjacent lots are zoned Mixed Use(Residential, Commercial, Light Industrial). The larger 6.4 acre parcel includes the two RV spaces and well. |
AMENITIES
SITE AMENITIES
- Laundry Facilities
- Storage Space
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Pine Grove Mobile Home Park
Pine Grove Mobile Home Park | 44614 State Highway 299 E
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