25433 South Ave - Manufactured Housing/Mobile Housing FOR SALE


Corning, CA 96021
$4,995,000 USD
619-839-0619
25433 South Ave, Corning, CA for Sale
$4,995,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/26
null | 8.87% Cap Rate

25433 South Ave
Corning, CA 96021


HIGHLIGHTS

  • Current Cap Rate - Current cap rate of 8.87% based on current budget NOI of $443,147 and purchase price of $4,995,000. Going-in cash-on-cash over 10%
  • Income Streams - Income is generated from a variety of streams including MH site rents, long-term RVs, daily RVs, service fees, storage, and more
  • Long Term Community - Of the 125 total sites, 110 are dedicated for long-term RV/MH, and 98 of those are occupied
  • Value-Add - Approaching stabilization with rents and occupancy in line with the market. Upside potential through occupancy growth and store income
  • Tenant Owned Homes - All occupied homes are owned by their residents, reducing the owner’s maintenance responsibility and overall management burden
  • Scenic Location - Woodson Bridge RV Park enjoys over 1,000 feet of frontage on the Sacramento River, offering scenic views and enhancing demand

OVERVIEW

Woodson Bridge RV Park is a 125-site community, located in Corning, Tehama County, CA and offered at $4,995,000. The Property consists of 110 long-term RV/MH sites, 14 transient RV sites, a 2-bed 2-bath site-built residence with 2-car garage, a convenience store, clubhouse, maintenance garage, and common area facilities including bathrooms, showers, and laundry. The community is income producing with pricing reflecting a 8.87% current cap rate. There is light value-add upside through convenience store income optimization as well as gradual rent and occupancy growth. 98 of the 110 long-term RV/MH sites are occupied at an average site rent of $612 per month, with all occupied homes owned by their residents. The 14 transient RV/MH sites generate supplemental income. The Property is HCD permitted for 134 total RV/MH sites (31 MH, 96 RV w/Drain, 7 RV w/o Drain), with 10 sites currently inactive. Additional income is generated from service fees for community facilities, maintenance, guest access, storage, and other ancillary charges. Income from the on-site convenience store is excluded from the financials, representing financial upside for a new owner. The store inventory and other personal property are excluded from the offering price and subject to negotiation. PG&E electricity is submetered and billed back to residents, residents obtain their own propane, and private well water, septic, and trash service are included in the rent. The Property is currently managed by the owner, who resides on-site in an RV during the week with support from four staff members responsible for the convenience store, check-ins/reception, maintenance, and other day-to-day operations. The Current Budget assumes a transition to third party off-site management combined with a new on-site manager compensated at $60,000 per year plus free occupancy of the site-built residence. Woodson Bridge RV Park is strategically positioned to capture both long-term housing demand and seasonal recreational tourism along the Sacramento River. The Property enjoys over 1,000 feet of river frontage, providing scenic views and a natural amenity base that supports both resident retention and daily RV demand. Corning sits at the heart of one of California's primary olive and orchard agriculture regions, with steady workforce housing demand from the surrounding agricultural and food processing sectors. Woodson Bridge RV Park offers a rare combination of strong current return, tenant-owned home stability, and identifiable upside. Please do not visit, drive through, call, or disturb the property or its residents without prior approval from the listing broker.

FOR SALE DETAILS

PRICE

$4,995,000 USD

PRICE/SF

$14 USD /SF

# OF UNITS

125

PRICE/UNIT

$39,960

CAP RATE

8.87%

% LEASED

89%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Woodson Bridge RV Park

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1953

PARKING SPACES

-

LAND DETAILS

LAND ACRES

8.05 AC

LAND SF

350,658 SF

ZONING

PF

APN/PARCEL ID

079-220-002-000,079-220-003-000

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 Notice.