1080 Pearson Rd - Manufactured Housing/Mobile Housing FOR SALE


Paradise, CA 95969
$1,200,000 USD
310-862-6103
1080 Pearson Rd, Paradise, CA for Sale
$1,200,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/19
null | 6.18% Cap Rate

1080 Pearson Rd
Paradise, CA 95969


HIGHLIGHTS

  • Rebuilt by 2023 after the 2018 Camp Fire with new underground utilities and roads, reducing long-term capex risk.
  • All 24 sites are HCD-permitted for mobile homes, allowing for long-term manufactured home infill and improved stability.
  • Adjacent 0.32-acre parcel available separately for $40,000 with Paradise Irrigation District (PID) water and private septic. Ideal for expansion.
  • All RVs are tenant-owned; there is one community owned mobile home designated as the office and manager quarters located at site #3.
  • Current rents are approximately 10% below market, allowing for near-term upside through modest rent increases.
  • The landlord currently pays for water and trash, presenting an opportunity to implement utility billbacks and improve NOI.

OVERVIEW

Forest Glen MHP is a 24-site, age-restricted mobile home park located in the heart of Paradise, Butte County. The community is currently 83.3% occupied, with a unit mix consisting of 19 tenant-owned RVs, 1 community-owned mobile home designated as the office and manager’s quarters, and 4 vacant sites. The park is fully permitted by HCD for 24 mobile home sites, offering the opportunity to convert existing RV’s to manufactured homes for enhanced stability and upside. This turnkey asset features new utility infrastructure and is professionally managed by an on-site manager, providing operational efficiency. The community operates on municipal water and private septic system (partial replacement), while PG&E supplies direct-billed electric and gas to tenants. Currently, ownership covers water, private septic/sewer, and trash expenses; however, there is a clear path to implement a utility bill-back system. Importantly, there is no rent control in Paradise, and current rents are below market, creating rent growth potential for a new investor. There is a ±0.32-acre adjacent parcel available for sale at $40,000 with Paradise Irrigation District water & septic available, presenting an opportunity for expansion. Strategically located at 1080 Pearson Rd, Forest Glen MHP enjoys proximity to both everyday essentials and regional attractions. Downtown Paradise and local retailers are just minutes away, with the fire station located directly across the street. The surrounding region offers abundant outdoor recreation, including hiking, fishing, and boating at nearby Lake Oroville and Feather River. Chico is a 25-minute drive northwest, providing access to a major university, healthcare centers, and a broader employment base. The community's location strikes an ideal balance between small-town living and accessibility to urban amenities, enhancing its long-term desirability for residents and stability for investors.

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$9 USD /SF

# OF UNITS

24

PRICE/UNIT

$50,000

CAP RATE

6.18%

% LEASED

83%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Forest Glen MHP

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

ADD'L SUBTYPES

Apartments, Dormitory

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2023

PARKING SPACES

-

LAND DETAILS

LAND ACRES

3.29 AC

LAND SF

143,312 SF

ZONING

-

APN/PARCEL ID

054-151-035-000,054-151-060-000

ASK ABOUT THIS PROPERTY

Tim RyanAvine Real EstateMore Info
310-862-6103

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Tim RyanAvine Real EstateMore Info
310-862-6103

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.