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Sierra Sands Mobile Home Community 535 W Atkins Ave 39 Unit Mobile Home Park $1,291,525 CAD ($33,116 CAD/Unit) Ridgecrest, CA 93555
Investment Highlights
- Delinquency Remediation Completed
- Clear Path to Stabilization through Occupancy Gains
- City Service Utilities
Executive Summary
CBRE is pleased to present the exclusive listing of Sierra Sands Mobile Home Community, a 39-site manufactured housing community located in Ridgecrest, California. Offered at $950,000 ($24,358/site), Sierra Sands represents a compelling value-add acquisition opportunity for investors seeking a community with a clear path to stabilization and significant upside through lease-up of vacant sites.
The park is currently 44% occupied with 11 park-owned units (2 of which are occupied). Utilities are city serviced and electric and gas are sub-metered. Tenants pay for all utilities including trash, which is a flat rate of $52.78/month/tenant.
Current ownership has successfully completed a significant tenant remediation effort, clearing out a substantial number of delinquent residents and returning the park to a clean, stabilized operational footing. The hard work has been done — Sierra Sands is now primed for full lease-up, positioning a new owner to step in and execute on a straightforward value-add business plan with minimal legacy headaches.
With 11 home-ready sites and 9 vacant POHs in needs of varying repairs, the community is poised for immediate occupancy increase upside with an operator who has the ability to purchase and set new homes efficiently to drive occupancy toward stabilization and achieve proforma cap rates beyond market levels.
The park is currently 44% occupied with 11 park-owned units (2 of which are occupied). Utilities are city serviced and electric and gas are sub-metered. Tenants pay for all utilities including trash, which is a flat rate of $52.78/month/tenant.
Current ownership has successfully completed a significant tenant remediation effort, clearing out a substantial number of delinquent residents and returning the park to a clean, stabilized operational footing. The hard work has been done — Sierra Sands is now primed for full lease-up, positioning a new owner to step in and execute on a straightforward value-add business plan with minimal legacy headaches.
With 11 home-ready sites and 9 vacant POHs in needs of varying repairs, the community is poised for immediate occupancy increase upside with an operator who has the ability to purchase and set new homes efficiently to drive occupancy toward stabilization and achieve proforma cap rates beyond market levels.
Property Facts
| Price | $1,291,525 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $33,116 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 2.42 AC |
| Sale Condition | High Vacancy Property | Building Size | 1,355 SF |
| No. Units | 39 | Average Occupancy | 44% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Manufactured Housing/Mobile Home | Year Built | 1980 |
| Zoning | R-2 | ||
| Price | $1,291,525 CAD |
| Price Per Unit | $33,116 CAD |
| Sale Type | Investment |
| Sale Condition | High Vacancy Property |
| No. Units | 39 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 2.42 AC |
| Building Size | 1,355 SF |
| Average Occupancy | 44% |
| No. Stories | 1 |
| Year Built | 1980 |
| Zoning | R-2 |
Amenities
Site Amenities
- Fenced Lot
- Laundry Facilities
- Property Manager on Site
- Maintenance on site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 39 | - | - |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Minimal public transit
10/100
Moderately bikeable
60/100
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Sierra Sands Mobile Home Community | 535 W Atkins Ave
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