26600 CA-88 - Manufactured Housing/Mobile Housing FOR SALE


Pioneer, CA 95666
$1,750,000 USD
619-839-0619
26600 CA-88, Pioneer, CA for Sale
$1,750,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/23

26600 CA-88
Pioneer, CA 95666


HIGHLIGHTS

  • Price Per Site – Offered for $36,458 per site, 47% lower than the comparable set average of $68,265.
  • Seller Financing - Offered for qualified borrowers subject to seller's approval, $875,000 down, 4% I/O rate, 7-year term.
  • Below Market Rents – Average in-place rents of $650 per month, 15% lower than the comparable set average of $773.
  • In-Fill Opportunity – 18 vacant lots present the opportunity for the new owner to increase occupancy by infill.
  • Tenant Owned Homes – All occupied MH and permanent RV are tenant-owned, reducing landlord maintenance responsibilities.
  • Opportunity Zone – Located in an Opportunity Zone

OVERVIEW

Buckhorn MHP is a 48-site, all-age community in an Opportunity Zone in Pioneer, CA being offered for $1,750,000 ($36,458 per site). Seller financing is available for qualified buyers, subject to seller's approval, with $875,000 down payment, 7 year term, and 4% I/O rate. 30 sites are currently occupied by long term residents with tenant-owned homes. There are 18 vacant units at Buckhorn MHP, presenting the opportunity for a new owner to grow occupancy by in-filling homes. Occupancy within the set of comparable parks nearby averaged over 90%. Furthering Buckhorn MHP’s potential, its average rents are $650 per month, which is approximately 15% less than the comparable set average of $773. Buckhorn MHP benefits from directly billed electric and gas utilities for each space. Waste is handled by a private septic system consisting of three tanks and leach fields. Public water is provided by Amador Water Agency through a master meter. Currently, only a handful of the tenants are being billed for water at a flat rate. There is potential for the new owner to expand billing for water and septic services. Buckhorn MHP’s street coverings are a combination of asphalt and dirt and there is a laundry room with recently updated leased machines. Buckhorn MHP is directly adjacent to a Chevron Gas and Convenience store and across the street from a Dollar General. It is also a short drive away from multiple outdoor recreation options in Pioneer and nearby Pine Grove. Jackson, CA is approximately 20minutes away from Buckhorn MHP, offering major services, employment and entertainment. Within a 90 minute drive, Buckhorn MHP can access Sacramento, Stockton, and Lake Tahoe, CA.

FOR SALE DETAILS

PRICE

$1,750,000 USD

# OF UNITS

48

PRICE/UNIT

$36,458

CAP RATE

11.81%

% LEASED

63%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Buckhorn MHP - 48 Spaces

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1960

PARKING SPACES

-

LAND DETAILS

LAND ACRES

6.21 AC

LAND SF

270,508 SF

ZONING

T-2

APN/PARCEL ID

033-160-013-000

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.