Manton Mobile Home Park

• 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.