24850 5th Ave - Manufactured Housing/Mobile Housing FOR SALE


Los Molinos, CA 96055
$1,750,000 USD
619-839-0619
24850 5th Ave, Los Molinos, CA for Sale
$1,750,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/28
null | 10.33% Cap Rate

24850 5th Ave
Los Molinos, CA 96055


HIGHLIGHTS

  • Price per Site – Offered for $32,407 per site, 38% lower than the comparable set average of $52,675.
  • In-Fill Opportunity – 20 vacant lots present the opportunity for the new owner to increase occupancy by in-fill.
  • Tenant Owned Homes – All 32 occupied manufactured homes and permanent RVs are tenant owned, reducing landlord maintenance responsibilities.
  • Excess Land – Several acres of excess land that are currently used for recreation and +/-10 RV storage sites.
  • Location - Scenic location on the Sacramento River 10 minutes from Los Molinos and 30 minutes from Chico.
  • PATH Program – Registered for Tehama County’s PATH Program to bring in up to 15 gov’t. subsidized tiny homes.

OVERVIEW

Antelope Creek MHP is a 54-site, all-age community in Los Molinos, CA being offered for $1,750,000 ($32,407 per site). The community consists of three separate parcels totaling over 12 acres. 32 sites are occupied by long term residents with tenant-owned homes. There are 2 vacant park-owned homes and 20 vacant sites in Antelope Creek MHP, presenting the opportunity for a new owner to grow occupancy by in-filling homes. Furthering the potential for occupancy growth, Antelope Creek MHP has been registered with Tehama County’s PATH Program to bring in up to 15 government-subsidized tiny homes. Antelope Creek MHP benefits from directly billed electric and propane utilities for each site. Waste treatment is handled by a private septic system and water is provided by a private well. Only approximately 20% of the current residents are billed a flatrate for trash and septic, presenting the opportunity for the new owner to expand utility recapture. Antelope Creek MHP’s street coverings are a combination of asphalt and gravel and there is a shared community laundry room. The property also enjoys a scenic riverfront location and several acres of excess land that are used for community recreation space and RV storage. Antelope Creek MHP is just a 10-minute drive from schools, services, groceries, and dining in the town of Los Molinos. It is also less than a 20-minute drive from Red Bluff, CA which offers major services and employment. Antelope Creek MHP is within a 45-minute drive of Chico, CA and Redding, CA for employment, entertainment, hospitals, education, and a regional airport.

FOR SALE DETAILS

PRICE

$1,750,000 USD

PRICE/SF

$35 USD /SF

# OF UNITS

54

PRICE/UNIT

$32,407

CAP RATE

10.33%

% LEASED

59%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Antelope Creek MHP - 54 Spaces

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1964

PARKING SPACES

-

LAND DETAILS

LAND ACRES

12.39 AC

LAND SF

539,708 SF

ZONING

AG-2

APN/PARCEL ID

047-120-001-000,047-120-015-000,047-120-022-000

ASK ABOUT THIS PROPERTY

Jason LippeAvine Real EstateMore Info
619-839-0619

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Jason LippeAvine Real EstateMore Info
619-839-0619

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