4.55 Acres Lot
4.55 Acres Lot
Key Details
Property Type Manufactured Home
Sub Type Manufactured On Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC26178546
HOA Y/N No
Year Built 1952
Lot Size 4.547 Acres
Property Sub-Type Manufactured On Land
Property Description
All homes are tenant-owned: residents maintain their homes while the park collects lot rent and structurally lower expenses, capital requirements, and turnover than conventional multifamily, with long resident tenure and stable collections across cycles. Amenities include a pool, laundry facilities, paved interior streets, and mature trees.
This fee-simple asset delivers immediate cash flow: in-place NOI of $349,134 (6.35% cap) with pro forma NOI of $370,280 (6.73% cap). Lot rents average $851 per month, below submarket levels, with yield growth through organic rent increases alone, no capital program required. Potential density expansion to as many as 90 spaces (buyer to verify) offers additional upside.
Continued employment growth in the corridor and a persistent shortage of attainable housing underpin durable demand in one of Southern California's most resilient affordable housing sectors.
Location
State CA
County San Bernardino
Area 699 - Not Defined
Interior
Fireplace No
Laundry Common Area
Exterior
Parking Features Gravel
Pool Private
Community Features Sidewalks
Private Pool Yes
Building
Lot Description 16-20 Units/Acre
Story 1
Sewer Septic Type Unknown
Water Public
New Construction No
Others
Senior Community No
Tax ID 0230051100000
Acceptable Financing Cash to New Loan, Conventional
Listing Terms Cash to New Loan, Conventional
Special Listing Condition Standard
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Agent | License ID: 00680027
29811 Santa Margarita Parkway, Suite 100, Margarita, CA 92688