6280 Pentz Rd - Manufactured Housing/Mobile Housing FOR SALE


Paradise, CA 95969
$1,050,000 USD
310-862-6103
6280 Pentz Rd, Paradise, CA for Sale
$1,050,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/18
null | Request Cap Rate

6280 Pentz Rd
Paradise, CA 95969


HIGHLIGHTS

  • Seller Financing - 25% down payment, 75% seller carry at 6% interest only for 5 years offered for qualified buyers.
  • Pre-Development - Final stages of pre-development underway with design for the mobile home park and septic system complete.
  • PG&E Installation - New electric and gas lines and connections have been established by PG&E for direct-billed service.
  • Septic Design Complete - Septic system design engineering has been completed.
  • HCD Permitted Sites - Acres of Paradise has an active permit to operate and is HCD-permitted for 53 MH sites and 5 RV sites with drain.
  • Location - The property is located within 7 min of major retail and services in Paradise, CA; 27 min of Chico; and 1 hour 40 min of Sacramento

OVERVIEW

Acres of Paradise is a 58-site, 15.2-acre all age manufactured home community development opportunity, located in Paradise, Butte County, CA, and offered at $1,050,000 with seller financing. The Property has an active permit to operate and is HCD-permitted for 53 manufactured home sites and 5 RV sites with drain, providing for a predominantly long-term community with the RV component offering income diversification. Substantial engineering, design, and utility work has already been completed, reducing a new owner's timeline to accepting residents. The Property is offered with attractive seller financing terms of 25% down payment and 6.00% interest only rate over a five-year term with no prepayment penalty. This structure is intended to provide runway for the buyer to obtain final approvals, develop sites, remaining infrastructure, and in-fill the community. Comparable manufactured home communities in Paradise command space rents averaging $582 per month and are achieving average occupancy of 88%, supporting the income potential of the completed community. The offering price of $1,050,000 for Acres of Paradise MHP equates to $18,103 per site and $69,079 per acre. Comparable manufactured home community development opportunities in Paradise, CA with gas and electric installed have traded for an average of $21,589 per site and $152,917 per acre. The property’s pricing equates to a 16% discount to the comparable average price per site and 55% discount to the comparable average price per acre, offering an attractive investment basis. Pre-development is in its final stages; the mobile home park site design and septic system engineering are complete, and PG&E has already installed new electric and gas lines and connections for direct-billed utilities. The septic system has been engineered as a wastewater treatment system consisting of one lift station, one 15,000-gallon tank, and leach lines located in the lower southeast portion of the Property. Public water service is available through Paradise Irrigation District. Water service is currently active, the city meter is operational, and the Town of Paradise has approved the initial plans. The current owner has completed all debris removal work and has engineered the unit layout, fire hydrant installation, grading, communication utility infrastructure, retaining wall, storm drain, erosion control, tree planting, and irrigation improvements, which are ready to submit for HCD approval. Following the 2018 Camp Fire, Paradise has experienced steady population recovery and rebuilding, while the high cost and measured pace of new single-family construction drives demand toward manufactured housing. The community sits within 7 min of retail and services in Paradise, 27 min of Chico, and 1 hour 40 min of Sacramento, with large commuter and retiree resident bases supporting long-term occupancy stability. Acres of Paradise offers a rare combination of entitled, utility-ready development and built-in seller financing! 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

$1,050,000 USD

PRICE/SF

$2 USD /SF

# OF UNITS

58

PRICE/UNIT

$18,103

CAP RATE

Request Cap Rate

% LEASED

0%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Acres of Paradise

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1972

PARKING SPACES

-

LAND DETAILS

LAND ACRES

15.2 AC

LAND SF

662,112 SF

ZONING

00

APN/PARCEL ID

053-250-049-000,053-250-115-000,053-250-117-000

ASK ABOUT THIS PROPERTY

Tim RyanAvine Real EstateMore Info
310-862-6103

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Tim RyanAvine Real EstateMore Info
310-862-6103

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