Santa Fe Palms Mobile Home Park 330 Palm Canyon Dr 27 Unit Mobile Home Park $1,840,941 CAD ($68,183 CAD/Unit) 6.26% Cap Rate Borrego Springs, CA 92004

Santa Fe Palms MHP is a 27-site manufactured home community located in Borrego Springs, California within San Diego County's northeastern desert. The Property is offered at $1,350,000 and seller financing is offered for qualified buyers with 25% down payment, 5 year term, and 8% interest-only rate.
The Property consists of 27 HCD-permitted manufactured home sites, 12 of which are occupied. 10 of the occupied sites have stylish, tenant owned homes with “Santa Fe Style” design, paying average monthly space rent of $444. The other two occupied sites have park owned homes which are rented for $1,500 per month, less a $510 credit for the manager’s unit. The 15 vacant sites have utilities present and varying degrees of lot preparation, presenting an in-fill opportunity for the incoming owner. Evidencing demand in this location, there are two manufactured home parks located within 1,000 feet of Santa Fe Palms which are currently 99% and 94% occupied with average rents of $600 per month and $735 per month, respectively. The Property has a professional third-party off-site management company, with day-to-day support from a resident manager who lives in one of the park owned homes and receives a partial rent credit.
The Property is served by public water and sewer and electricity and gas are billed direct to the residents by SDG&E. Community amenities include a clubhouse and swimming pool, enhancing the Property's appeal to prospective residents.
Surrounded by Anza-Borrego Desert State Park, the largest state park in California, and recognized as the state's first International Dark Sky Community, Borrego Springs draws a steady flow of seasonal visitors and retirees from across Southern California and beyond. Santa Fe Palms is well positioned within Borrego Springs, situated directly on Palm Canyon Drive, the town's main street, residents enjoy walkable access to daily conveniences. Borrego Springs golf courses, desert hiking, wildflower seasons, and proximity to both San Diego County and the Inland Empire sustain consistent demand for quality, affordable housing.
Please do not visit, drive through, call, or disturb the property or its residents without prior approval from the listing broker.