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25433 South Ave
Corning, CA 96021

$4,995,000 USD

Manufactured Housing Mobile Home Park For Sale  •  350,000 SF

Property Details

  • Property Type Manufactured Housing Mobile Home Park
  • Total Building Size 1,000 SF
  • Lot Size 8.05 AC
  • Building Class C
  • Year Built 1953
  • Zoning PF
10 Walk Score

Highlights

Current Cap Rate - Current cap rate of 8.87% based on current budget NOI of $443,147 and purchase price of $4,995,000. Going-in cash-on-cash over 10%
Income Streams - Income is generated from a variety of streams including MH site rents, long-term RVs, daily RVs, service fees, storage, and more
Long Term Community - Of the 125 total sites, 110 are dedicated for long-term RV/MH, and 98 of those are occupied
Value-Add - Approaching stabilization with rents and occupancy in line with the market. Upside potential through occupancy growth and store income
Tenant Owned Homes - All occupied homes are owned by their residents, reducing the owner’s maintenance responsibility and overall management burden
Scenic Location - Woodson Bridge RV Park enjoys over 1,000 feet of frontage on the Sacramento River, offering scenic views and enhancing demand

Amenities

  • Clubhouse
  • Laundry Facilities
  • Picnic Area
  • Waterfront
  • Gameroom
  • Storage Space
Jason Lippe 619-839-0619 Avine Real Estate
Jason Lippe 619-839-0619 Avine Real Estate