Properties
Bayside Trailer Park
Chula Vista, California
$2,385,316
Units: 31
Cap Rate: 6.000
Bayside Trailer Park is ideally located at 1424 Broadway in downtown Chula Vista. The property is comprised of two parcels, a 1.42 acre historically full 31 home site mobile home park, and an additional .28 acres of an automotive industrial park including the Economy Tire (leased auto shop). Ten percent of the County of San Diego’s population is within a 5 mile radius of the site, which will continue to service the high demand for affordable housing in the city.
The mobile home park consists of 31 home sites with many long-term tenants and a very high historical occupancy. The property frontage along Broadway is serviced by a long term tire and auto shop tenant (Economy Tires). Economy Tires has a well below market lease agreement that was grandfathered in to the current owners. The agreement states that the lease will be $650/month until April 2011. The owner/seller has agreed to guarantee a $2500/month lease until terminated in April 2011 by crediting back to the new buyer at close the difference between the current lease rate and a more realistic market rate of $1 per square foot. This will allow a new owner to significantly increase the value of the auto shop upon resigning the tenant at a realistic market rent.
A new owner/investor will be very pleased at the consistent income from both cash-flowing and relatively management free properties on the site. In addition the ideal location and the growing demand for affordable housing in the region will ensure a new owner of continual performance.
SOLD
Brighton Mobile Home
Brighton , Colorado
$752,350
Units: 28
Cap Rate: 10.000
Brighton Mobile Home Park is a 28 space all family park offering a tremendous return for a new owner. With a historical low vacancy of less than 2% annually and a great location on Main Street, this park offers tenants laundry facilities, a new well water system (including twin Softeners, a nitrate removal system, a chlorinator, and storage/distribution tanks), and nearby access to all of the major transportation systems in the greater Denver area. The parks 28 spaces are occupied by 27 tenant owned homes and one park owned rental. The entire community continues to receive inquires into available space due to the regional high demand for affordable housing. Current zoning is for I-2 (Industrial), the Mobile Home Park zoning has been grandfathered in and can continue existing operations. Although zoning restrictions prohibit expansion and / or renovation of the mobile home park, the property can continue to be operated as is.
Each tenant individually pays for the electricity and heating. The owner/landlord pays for water, sewer, and garbage. The park is connected to the city sewer system.
Brighton offers any new investor and unprecedented cash on cash return of over 15%.
SOLD
Hidden Cove Mobile Home Park
Yuma, Arizona
$1,380,000
Units: 117
Cap Rate: 7.700
Hidden Cove Mobile Home & RV Park is a 117 space 55+ Senior Community located on the shores of the
beautiful Colorado River. There are approx. 20 double wide spaces, 37 single wide, and the remaining are RV
spaces with additional land for RV Storage or parking.
PLEASE CONTACT US FOR MORE DETAILED INFORMATION!
SOLD
Holiday Mobile Home Park
Borrego Springs, California
$1,699,000
Units: 78
Cap Rate: 4.300
Holiday Home Mobile Home & RV Park is a stabilized 78 space 55+ senior living park;
spread over six acres in the Anza-Borrego Desert region of San Diego County. Currently, 38
spaces are permantely occupied by both single and double wide mobile homes, while the
remaining spaces are seasonal RV spaces that are fully occupied during the winter season.
A new investor will be able to assume an almost unheard of fi xed fi rst loan of approximately
$1,100,000 at 5.9% for the next 9 years. PLEASE CONTACT US FOR MORE DETAILED INFORMATION.
Lakefront & Lakeland MH & RV Parks
Clearlake, CA
$3,784,000
Units: 105
Cap Rate: 7.000
Lakeland & Lakefront Mobile Home & RV Parks are ideally located on the shores of the beautiful Clear Lake (the largest natural freshwater lake in California and possibly the oldest in
North America). The parks are contiguous and have been operated as one single property for over five years. The majority of sites contain single and double wide mobile homes with about 30% of the park servicing RV’s and travel trailers. The parks contain a total of 105 home sites (65 mobile homes & 38 RV) with an additional 2 single family homes (each 3 bed & 2 baths). Tenants enjoy private access to boat ramps, docks, and the lake’s year round
activities.
Lakeside RV Park
Okeechobee, Florida
$1,139,000
Units: 59
Cap Rate: 10.000
Lakeside RV Park includes 59 RV Spaces (the majority of which are permanent year-round tenants), and a single family home. The park also has 19 docks, which can accommodate approximately 38 boats. This park is and has been a historically fully occupied cash flowing RV park with the majority of tenants living there permanently. Priced well below market at approx. $19,305/space and with an 10% CAP rate this park will sell quickly! Located along the famous Lake Okeechobee in Central Florida the park is conveniently located within driving distance of the major Florida attractions and beaches.
In addition to its central location, across the road from the park is a 211 acre National Historic Landmark of the Okeechobee Battlefield where in 1837 future President of the United States Zachary Taylor led the US Army and Missouri Volunteers in an attack of the Seminole and Miccosukee tribes. The current project underway will include a museum and a place to conduct a yearly commemorative re-enactment of the battle.
The investment will allow a new owner to capitalize on a stable RV Park with long term tenants and historical cash flow. In addition, the current owner will be available in order to familiarize a new owner with the operations of the park. Upside potential includes an immediate rental increase, due to the current below market rents and a possible increase of the monthly water charge to the tenants.
SOLD
Leisure Days MHP
Shady Cove, Oregon
$2,800,000
Units: 49
Cap Rate: 6.100
Leisure Days Mobile Home is a 49 space senior community (55+) located on the banks of
the beautiful Rogue River in Shady Cove, OR just outside of Medford. This is an investment
grade park, with newly paved roads and neatly landscaped spaces. All homes are double
wide and have either attached garages or car ports. All have storage sheds and are nicely
lit by road side brick lamp pedestals. The park was originally built in the early 1980’s
however most of the homes were moved to the park in the mid 1990’s making this a very
rare park investment with newer homes, utilities, etc. In the last 10 years there have been
no vacancies. Amenities include picnic tables with seating by the river, a 6,000 sq. ft. lawn
area, RV storage, shuffl eboard, and a horseshoe pit. The tenants enjoy appox. 1 acre along
the Rogue River for fi shing, walking, picnicking, canoeing, etc.
SOLD
North Valley MHP
Reno, Nevada
$4,300,000
Units: 100
Cap Rate: 7.500
North Valley Mobile Home Park is an all family park located in a highly desirable area of
Reno, Nevada. The park is currently zoned for 100 spaces.
Within a short distance of this property are a new Wal Mart and a proposed Home Depot,
which are both signs of positive job, population, and economic growth. Also across the
street are a new single family home development, condo development, and a brand new
self-storage development. All of these facilities add value to the existing property. The land
value alone is already approaching the value of the current income stream of the mobile
home park.
Rancho Mobile Home Park
Phoenix, Arizona
$940,000
Units: 30
Cap Rate: 8.000
Rancho Mobile Home Park is located in phoenix AZ just
off of Indian school road. The park contains 30 spaces with
paved roads and city services. Tenants have access to a
Laundry room and additional RV storage for their convenience.
The park was built in 1945 and sits on 1.5 acres.
The park is being offered at an 8% cap rate which will give
any investor a great return on their money. The Buyer will
need to assume the current financing which has a great loan
of 6.38% fixed loan until 2017. With this in place the new
Buyer can capture a total return of 11.63% return on their
investment.
SOLD
Southern Mesa RV Park
Yuma, Arizona
$2,350,000
Units: 164
Cap Rate: 7.900
Southern Mesa RV Park is a 164 space RV park on 9.4 acres nestled in a quiet countryside setting, just 11 miles from downtown Yuma and only 25 miles from the Mexican shopping village of Algondones. The park is priced at a 7.9% cap rate at a price per space of $14,239.00. Upon entering the park you will be welcomed by a beautiful pond that features an elaborate fountain. The park has a pool with Jacuzzi, full bathrooms with showers and a clubhouse with a full kitchen and plenty of open space for dining. In addition, the clubhouse has pool tables and a separate room for card playing. Southern Mesa also supplies free wi-fi for all the tenants. The park during the winter months will have occupancy of about 90-100%. The Southern Mesa RV park has recently went through an electrical upgrade with half of the park offering a 50-100 amp service.
Whites Mobile Home Park
Tooele, Utah
$754,660
Units: 55
Cap Rate: 10.000
Whites Mobil e Home Park is located 35 minutes from downtown Salt Lake City in Tooele, UT. The property is an all-age family park and consists of 55 home sites on approximately 5 acres of land. There is a current 27% vacancy yet comparable parks in the region have an actual vacancy of 5%. A new owner/investor will be able to capitalize on the opportunity to bring in new homes, advertise available lots, and signifi cantly increase the income. The park has been valued on actual current income and expenses and is offered at a 10% Cap rate with possible 18% cash on cash return (depending on available fi nancing). Utility services include city water, city sewer, sub-metered electricity and sub-metered gas. Tenants are billed directly for electricityand gas. Included in the rents are the water, sewer, and garbage (paid by owner).
In addition to the Mobile Home Park offering, a new investor may be able to purchase additional
vacant land contiguous to the park for future development, water shares for the irrigation
water, and a warehouse which sits adjacent to the property. All of these can purchased aside from
the park or included in any offer. Ask agent for details.