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


Pioneer, CA 95666
$2,000,000 USD
619-839-0619
26600 CA-88, Pioneer, CA for Sale
$2,000,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/23

26600 CA-88
Pioneer, CA 95666


HIGHLIGHTS

  • Price Per Site – Offered for $41,667 per site, 39% lower than the comparable set average of $68,265.
  • In-Fill Opportunity – 18 vacant lots present the opportunity for the new owner to increase occupancy by infill.
  • Below Market Rents – Average in-place rents of $650 per month, 15% lower than the comparable set average of $773.
  • Utility Billback – Only a few newer tenants are currently being billed for water and septic. There is potential for new owner to expand billing.
  • 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 $2,000,000 ($41,667 per site). 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 alsoa 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 minutedrive, Buckhorn MHP can access Sacramento, Stockton, and Lake Tahoe, CA.

FOR SALE DETAILS

PRICE

$2,000,000 USD

# OF UNITS

48

PRICE/UNIT

$41,667

CAP RATE

10.21%

% 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 Policy.