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740-990 Arroyo Dr 73 Unit Mobile Home Park $3,324,576 CAD ($45,542 CAD/Unit) 8.48% Cap Rate Herlong, CA 96113
Investment Highlights
- Non-Rent Controlled Market
- Municipal Water | Sites 1-50 on Municipal Sewer - Sites 51-61 on Septic with Hook-Up Available
- 20 Acre Expansion Opportunity
- Upside in Rents | Below Market Lot-Rent
- Laundry Room On-Site
- Centralized Gas Available - Tenants Use Propane
Executive Summary
PLEASE REVIEW THE OFFERING MEMORANDUM FOR A DETAILED OVERVIEW OF THE PROPERTY
Electric: Sub-metered 50 Amp service. Direct burial. Two distribution centers within the park, three homes per breaker.
Gas Lines: There is a centralized gas system which is not currently utilized. Seller provides all tenants with a 120gal propane tank which they are responsible for refilling.
Water Lines: Galvanized piping. Seller has sub-metered 6 of the homes but is not currently charging tenants for water.
Sewer Lines: Cast Iron (must be confirmed through Buyers DD). Most tenants are passed through a sewer charge of $28.37. As new homes are installed, seller has removed p-traps and installed ABS piping. Spaces 1-50 are on a lift station and connected to City Sewer. Spaces 51-61 were built more recently and have their own individual septic system which can be tied into the lift station if so desired.
Trash: Two dumpsters on-site. Trash services are provided by CNS Waste Solutions and paid for by seller.
Drainage: West to East surface drainage.
Laundry Room: There are three brand new stackable washer/dryer units, three toploading washers and three top-loading dryers all owned by the park. Seller has reroofed and renovated the laundry building and there is a new change machine within.
Roads: Asphalt is in fair condition. No improvements have been made to roads.
Park-Owned Homes: The Park Owned Home Portfolio is included in the Purchase Price.
Storage Sheds: The Storage Sheds are NOT included in the Purchase Price. Principals must agree to a Personal Property Storage Shed
Electric: Sub-metered 50 Amp service. Direct burial. Two distribution centers within the park, three homes per breaker.
Gas Lines: There is a centralized gas system which is not currently utilized. Seller provides all tenants with a 120gal propane tank which they are responsible for refilling.
Water Lines: Galvanized piping. Seller has sub-metered 6 of the homes but is not currently charging tenants for water.
Sewer Lines: Cast Iron (must be confirmed through Buyers DD). Most tenants are passed through a sewer charge of $28.37. As new homes are installed, seller has removed p-traps and installed ABS piping. Spaces 1-50 are on a lift station and connected to City Sewer. Spaces 51-61 were built more recently and have their own individual septic system which can be tied into the lift station if so desired.
Trash: Two dumpsters on-site. Trash services are provided by CNS Waste Solutions and paid for by seller.
Drainage: West to East surface drainage.
Laundry Room: There are three brand new stackable washer/dryer units, three toploading washers and three top-loading dryers all owned by the park. Seller has reroofed and renovated the laundry building and there is a new change machine within.
Roads: Asphalt is in fair condition. No improvements have been made to roads.
Park-Owned Homes: The Park Owned Home Portfolio is included in the Purchase Price.
Storage Sheds: The Storage Sheds are NOT included in the Purchase Price. Principals must agree to a Personal Property Storage Shed
Property Facts
| Price | $3,324,576 CAD | Property Subtype | Manufactured Housing/Mobile Home |
| Price Per Unit | $45,542 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 6.89 AC |
| Cap Rate | 8.48% | Average Occupancy | 44% |
| No. Units | 73 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1980/2014 |
| Price | $3,324,576 CAD |
| Price Per Unit | $45,542 CAD |
| Sale Type | Investment |
| Cap Rate | 8.48% |
| No. Units | 73 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Building Class | C |
| Lot Size | 6.89 AC |
| Average Occupancy | 44% |
| No. Stories | 1 |
| Year Built/Renovated | 1980/2014 |
Amenities
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 73 | - | - |
1 1
Not walkable
10/100
Exceptionally drivable
90/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,689 CAD | |
| Land Assessment | $33,954 CAD | Total Assessment | $35,642 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$33,954 CAD
Improvements Assessment
$1,689 CAD
Total Assessment
$35,642 CAD
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740-990 Arroyo Dr
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