740-990 Arroyo Dr - Manufactured Housing/Mobile Housing FOR SALE


Herlong, CA 96113
$2,400,000 USD
415-625-2127
740-990 Arroyo Dr, Herlong, CA for Sale
$2,400,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/18

740-990 Arroyo Dr
Herlong, CA 96113


HIGHLIGHTS

  • Non-Rent Controlled Market
  • Upside in Rents | Below Market Lot-Rent
  • Municipal Water | Sites 1-50 on Municipal Sewer - Sites 51-61 on Septic with Hook-Up Available
  • Laundry Room On-Site
  • 20 Acre Expansion Opportunity
  • Centralized Gas Available - Tenants Use Propane

OVERVIEW

PLEASE REVIEW THE OFFERING MEMORANDUM FOR A DETAILED OVERVIEW OF THE PROPERTY Electric: Sub-metered 50 Amp service. Direct burial. Two distribution centers within the park, three homes per breaker. Gas Lines: There is a centralized gas system which is not currently utilized. Seller provides all tenants with a 120gal propane tank which they are responsible for refilling. Water Lines: Galvanized piping. Seller has sub-metered 6 of the homes but is not currently charging tenants for water. Sewer Lines: Cast Iron (must be confirmed through Buyers DD). Most tenants are passed through a sewer charge of $28.37. As new homes are installed, seller has removed p-traps and installed ABS piping. Spaces 1-50 are on a lift station and connected to City Sewer. Spaces 51-61 were built more recently and have their own individual septic system which can be tied into the lift station if so desired. Trash: Two dumpsters on-site. Trash services are provided by CNS Waste Solutions and paid for by seller. Drainage: West to East surface drainage. Laundry Room: There are three brand new stackable washer/dryer units, three toploading washers and three top-loading dryers all owned by the park. Seller has reroofed and renovated the laundry building and there is a new change machine within. Roads: Asphalt is in fair condition. No improvements have been made to roads. Park-Owned Homes: The Park Owned Home Portfolio is included in the Purchase Price. Storage Sheds: The Storage Sheds are NOT included in the Purchase Price. Principals must agree to a Personal Property Storage Shed

FOR SALE DETAILS

PRICE

$2,400,000 USD

# OF UNITS

73

PRICE/UNIT

$32,877

CAP RATE

8.48%

% LEASED

44%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1980

PARKING SPACES

-

LAND DETAILS

LAND ACRES

6.89 AC

LAND SF

300,128 SF

ZONING

-

APN/PARCEL ID

139-090-049-000,910-000-070-000

ASK ABOUT THIS PROPERTY

Peter AlimamMarcus & MillichapMore Info
415-625-2127

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Peter AlimamMarcus & MillichapMore Info
415-625-2127

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