401 Sterling rd - Manufactured Housing/Mobile Housing FOR SALE


Pearsonville, CA 93527
$129,000 USD
424-262-0392
401 Sterling rd, Pearsonville, CA for Sale
$129,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/7
null | Request Cap Rate

401 Sterling rd
Pearsonville, CA 93527


HIGHLIGHTS

  • 9.58-acre mobile home park, ready for redevelopment (grants available), with income-producing dual-panel billboard
  • $85k Gross Annual Revenue Potential (pro-forma)
  • Utilities (electric, water, sewer & gas) previously on site, some utilities, electric/gas meters, and underground lines remain.
  • Perfect for owner-operator (live in one and cashflow the other spaces) or portfolio/asset manager. Fun project for new or experienced investors.
  • Value-add opportunity: ideal location for an electric vehicle charging center to increase cash flo

OVERVIEW

9.58 Acre redevelopment opportunity with existing cash flow! Here's a fun project with a lot of upside potential. Priced to sell! GREAT for both first-time and experienced investors! GREAT for owner-operator (live in one and rent the others) or for an added long-term asset. This offering is for a vacant 10-space trailer park with cash flowing dual-panel billboard (professionally managed - 100% passive income). This trailer park is a great project for the right investor. This was a previously operational 10-unit mobile home community with clubhouse, but was left in disrepair after the previous owner passed away. It's going to take some work for it to be operational again, but once it is, it could be a gold mine. The park is positioned well for mobile home owners desiring larger lots on the outskirts of town. The park has nearby amenities (fuel/groceries) and is about 20 to 30 minutes away from Ridgecrest / China Lake. At a conservative estimate, each space can rent for $700+/mo., with gross annual revenue of $85,000+. Estimates for restoration of the park is anywhere between $150k - $300k. Also, this property is a PERFECT candidate for FREE federal and state grants to redevelop this park (https://www.hcd.ca.gov/grants-and-funding). The dual-panel billboard is managed by Sun Advertising. They perform all advertising and maintenance services of the billboard and have been the advertiser of this billboard for approximately 50 years. The owner of the property receives a 25% share of advertising revenue which is currently about $1,000 a year. The current lease with Sun Advertising has 14-years remaining with an automatic extension unless the property owner chooses to cancel. Plus, value-add opportunity: Ideal location for an EV Charging Project to increase cash flow even more, grants available (https://afdc.energy.gov/laws/12744).

FOR SALE DETAILS

PRICE

$129,000 USD

PRICE/SF

$258 USD /SF

# OF UNITS

10

PRICE/UNIT

$12,900

CAP RATE

Request Cap Rate

% LEASED

-

STATUS

Under Renovation

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Vacant Trailer Park w/Billboard Income

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

ADD'L SUBTYPES

Trailer/Camper Park

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1985

PARKING SPACES

-

LAND DETAILS

LAND ACRES

9.58 AC

LAND SF

417,305 SF

ZONING

R3 5.0-MH

APN/PARCEL ID

037-190-01

ASK ABOUT THIS PROPERTY

James FrakesUSLiberty CorpMore Info
424-262-0392

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James FrakesUSLiberty CorpMore Info
424-262-0392

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