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6150 - 6152 E Avenue T - Joshua View Mobile Home Park, Palmdale, CA

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6150 - 6152 E Avenue T - Joshua View Mobile Home Park

Palmdale, CA 93552-6006 - Outlying LA County MF Submarket

Property Type:Multi-Family Number of Units:72 Status:Existing Year Built:1982
Stories:1 Building Size:550 SF Land Area:9.09 AC (395,960 SF)
For Sale Price:For Sale Price/Unit:- Cap Rate:- GRM:-


Property Description: Mobile Home Park

Property Use Description: Mobile Home Park

Sale Notes:
**Property tour will be available Friday, October 14th from 1:00pm - 5:00pm local time. Contact the listing broker to RSVP. **

Investment Highlights
• Two-Star, All Age Community; Built on 1982 on 4.45 Acres
• 16.17 Sites Per Acre, 71 Sites, 1 Bedroom Apt with 4 Sites for Future Expansion
• 4.64 Acres of Vacant Land (4, R-1, 1.6 acre lots) for Expansion
• 72 Occupied Sites, Including Apt (#72). No Park Owned Homes. HCD Permitted for 76 Sites. Expired Permits to add 4 Sites
• Sub-metered City Water, Direct Electric. Sub-metered Natural Gas
• New Septic and Leach Field, Engineered Drawings Available
• Water Well On Site for Irrigation

Investment Overview
Joshua View Mobile Home Park is a 71-site community with a one bedroom apartment, four permitted expansion sites and 4.64 acres of adjoining vacant land zoned R-1. The park was built in 1982 and the 72 total sites sit on 4.45 acres (HCD permitted for 76 sites - 16.17 site per acre density). The park fronts avenue T and 62nd street traverses the eastern boundary of the entire 9.09 acres. The 71 finished sites are 100% occupied and there are no park owned homes. There are 13 Lease to Own contracts and one vacant mobile home for sale. The Lease to Own contracts and vacant mobile home are owned and the responsibility of a 3rd party private lender.

The property has city water and is sub-metered to each site. The residents are billed for their usage. There is an existing well on the vacant 4.64-acre site, which is operable but inactive. This well may be used for landscaping and fire suppression. The electrical system is new and was installed to SCE standards. Each site has 100 Amp service and the residents are billed directly by SCE. There is natural gas sub-metered to the sites. The septic system, sump pump, leach fields and seepage pit system is new and the engineered plans for both the septic system and electrical system are available.

The park has a history of high occupancy and there is demand for affordable housing in the area. The park is under the Palmdale City Rent Control Ordinance and there is an existing legal action in the settlement phase with the Residents and the Seller has settled the litigation with the City Rent Control Board. A summary of litigation history is available upon request and the Dismissal, Settlement and MOU is included in the package.

Joshua View Mobile Home Park has repositioning/renovation upside as well as future expansion possibilities. A hands-on operator can make a difference in the operation and capitalization on the demand for the location through renovation, expansion and leadership.

Ten-X, LLC
Alison Truong
(949) 859-2777

Ten-X Commercial
(800) 793-6107

Marcus & Millichap
Douglas A Danny
(858) 373-3222

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