Manton Mobile Home Park

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Address: 31300 Manton Rd, Manton, CA 96059, USA
Created date: October 20, 2023
Date last updated: March 25, 2024
  • Exceeds the coveted “1% Rule”
  • High cap rate based on in-place actual income
  • Upside in leasing vacant spaces
  • Low space rents with room to increase
  • Upgraded water filtration system and septic leach lines

Property Description

This is an incredible opportunity to acquire an investment property which exceeds the coveted "1% Rule" (1.3% Actual) on in - place ACTUAL reported income. There are currently two (2) vacant spaces which if leased at the below market in-place space rent of $300 this equates to $7,200 in annualized loss-to-vacancy income, increasing the proforma cap rate to 8-8.3% (over 1% increase). Manton Trailer Park is a well maintained 14 space Mobile Home Park situated on 1.90 Acres comprised of (13) Single-Wide spaces, (1) Double-Wide, plus an onsite laundry facility with bathrooms. The park is serviced through a private monitored well system plus two (septic tanks) with recently installed leach lines. Five (5) of the spaces are sub-metered PG&E so the tenants reimburse the ownership for their electrical use, whereas the remaining (9) spaces pay direct billed to PG&E. Each tenant is responsible for obtaining their own propane gas. The ownership has made the following capital improvements: - New filtration and chlorination system. - New casing for the well. - (2) new leach lines for the septic system. One (1) double-wide space; 1 is a newer 1200 sq ft 3 bed, 2 bath modular. It also includes a newer 800 sq ft shop with 1 bathroom. This represents a streamlined light value-add opportunity through the implementation of basic marketing to lease vacant spaces with already existing income.

Key Property Information

Listing Status: Available
Listing Type: Highest & best offer
Property Types: Apartment Buildings | MHC & RV Community
Price: $385,000
No. of Units: 14
Cap Rate: 9%
GRM /GIM: 6.22
Average Occupancy: 80
Year Renovated: 1973
Building Size: 82,764 Sq ft
Lot Size: 1.90 Acres
Zoning Code: C4-SP
Opportunity Zone: No
Price per unit: $27,500
Property Website Click Here
Address: 31300 Manton Rd, Manton, CA 96059, USA

Unit mix

Description No. of Units Sq ft. Avg. Monthly Rent

Additional contacts

Full name Phone number Email address
Claudia Aguilar (916)517-4899 [email protected]

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