4222 Lelia Dr - Manufactured Housing/Mobile Housing FOR SALE


Rio Vista, CA 94571
$2,200,000 USD
619-839-0619
4222 Lelia Dr, Rio Vista, CA for Sale
$2,200,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
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4222 Lelia Dr
Rio Vista, CA 94571


HIGHLIGHTS

  • Central Location – Located between San Francisco and Sacramento, only an approx. one hour drive to two of California’s prominent metro areas
  • Expansion Potential – Permitted to have 6 RV lots added and has 1.72 acres of excess land directly adjacent to the existing spaces
  • Rent Guarantee – The seller has offered to provide a rent guarantee on the three vacant park owned homes at $760 per month for up to 6 mos after close
  • Tenant Owned Homes – All occupied homes are tenant owned. There are three vacant POHs included with the sale; two of which are partially renovated
  • Stable Investment – 89.7% occupied with rents in line with market, all systems in good working condition, and an on-site resident manager

OVERVIEW

Edgewater MHP is an all-age community in Sacramento County, CA with 29 MH sites being offered for $2,200,000 ($75,862 per site). The property is located only one hour drive northeast of San Francisco (population 4+ million) and one hour drive southwest of Sacramento (population 2+ million). Edgewater MHP has expansion potential, with HCD permits for 6 additional RV lots. The price for Edgewater MHP equates to a 6.02% cap rate on current income. Edgewater MHP is 89.7% occupied by long-term residents who own their homes. There are three vacant park owned homes for which the seller has agreed to provide a rent guarantee at $760 per month for up to six months after closing, while the new owner markets them for sale. Electric is provided by PG&E; 18 of the sites are sub-metered and billed back while the rest have direct service. There are two private wells, one of which was installed in 2019/20 alongside a state-of-the-art pumping and filtration system. Waste treatment is handled by a private septic system. The residents are not billed for water, waste, or trash. Edgewater MHP is on Sherman Island. The area offers a quiet, natural setting with river frontage, rolling hills, and recreational uses, including windsurfing that draws visitors from across the world. Antioch, Pittsburg, Oakley, Brentwood, and Rio Vista are all within a 15-20 minute drive, providing access to employment, retail, and services. The property is centrally positioned between two of California’s primary economic hubs, and is within one hour of four international airports. This combination of a peaceful setting and regional connectivity makes Edgewater MHP’s location uniquely compelling.

FOR SALE DETAILS

PRICE

$2,200,000 USD

# OF UNITS

29

PRICE/UNIT

$75,862

CAP RATE

6.02%

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Edgewater Mobile Home Park

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1960

PARKING SPACES

-

LAND DETAILS

LAND ACRES

5.44 AC

LAND SF

236,966 SF

ZONING

CR, SFR, AG

APN/PARCEL ID

158-0060-019-0000,158-0060-040-0000,158-0060-041-0000,158-0060-042-0000,158-0060-054-0000,158-0060-062-0000,158-0060-063-0000

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.