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Mobile Home Park

8345 Trout Ave

8345 Trout Ave, Kings Beach, CA 96143

Listing Price: $5,250,000

Cap Rate
3.11%
Number of Spaces
12
Lot Size
0.93 acres
Occupancy
100.0%
Price/Space
$437,500
Spaces/Acre
12.90
Year Built
1959

Investment Overview

8345 Trout Ave is a rare opportunity to acquire a 12-space mobile home park spread across (2) two ideally situated parcels right by the north shore of Lake Tahoe in Kings Beach, California. The subject property comprises of two parcels that are zoned for MU-MTC: "Mixed-Use Mountain Town Center", giving developers the flexibility to take advantage of the variety of residential and non-residential uses with focus on ground-level active storefronts along North Lake Boulevard. The zoning allows for hotels, motels, timeshare facilities, and "other transient development units" with approval of a Conditional Use Permit with a maximum density of 40 units per acre. Currently, two of the existing mobile home parks are master leased to the nearby Ritz Carlton for their employee housing. In addition, operators can greatly improve returns by improving the sites for an estimated $400,000 and adding another 9 units for an estimated $700,000. Lake Tahoe is a beautiful vacation getaway with dozens of beaches spanning across two states, massive granite peaks, dozens of hiking trails, world-renown downhill and Nordic skiing, all types of snow sports, and 39 trillion gallons of water. Being a prime vacation destination and getaway, approximately 15 million people come to Lake Tahoe a year to enjoy the relaxing scenery and enjoy the various activities and communities. The investment appeal of this asset is driven by Kings Beach's strong vacation appeal and low vacancy levels. With a world-class location along North Lake Tahoe, 8345 Trout presents an attractive choice for renters due to close proximity to major transportation corridors, close proximity to the lake, and easy access to a myriad of shopping, dining, and entertainment options.

Investment Highlights

  • Exceptional Mobile Home Community Investment Opportunity - Investors have the opportunity to acquire a well-situated asset along the northern shores of Lake Tahoe in Kings Beach, California
  • Zoned MU-MTC - The two parcels that 8345 Trout Ave is situated on is zoned  "Mixed-Use Mountain Town Center", giving developers the flexibility to take advantage of the variety of uses
  • Convenient Access Around the Lake - 8345 Trout Ave is also situated adjacent to North Lake Boulevard, which is the main road leading around all of Lake Tahoe, providing residents convenient passage

Exclusively Listed By

Mobile Home Park

8345 Trout Ave

Listing Price: $5,250,000

Cap Rate
3.11%
Number of Spaces
12
Lot Size
0.93 acres
Occupancy
100.0%
Price/Space
$437,500
Spaces/Acre
12.90
Year Built
1959

Investment Highlights

  • Exceptional Mobile Home Community Investment Opportunity - Investors have the opportunity to acquire a well-situated asset along the northern shores of Lake Tahoe in Kings Beach, California
  • Zoned MU-MTC - The two parcels that 8345 Trout Ave is situated on is zoned  "Mixed-Use Mountain Town Center", giving developers the flexibility to take advantage of the variety of uses
  • Convenient Access Around the Lake - 8345 Trout Ave is also situated adjacent to North Lake Boulevard, which is the main road leading around all of Lake Tahoe, providing residents convenient passage

Investment Overview

8345 Trout Ave is a rare opportunity to acquire a 12-space mobile home park spread across (2) two ideally situated parcels right by the north shore of Lake Tahoe in Kings Beach, California. The subject property comprises of two parcels that are zoned for MU-MTC: "Mixed-Use Mountain Town Center", giving developers the flexibility to take advantage of the variety of residential and non-residential uses with focus on ground-level active storefronts along North Lake Boulevard. The zoning allows for hotels, motels, timeshare facilities, and "other transient development units" with approval of a Conditional Use Permit with a maximum density of 40 units per acre. Currently, two of the existing mobile home parks are master leased to the nearby Ritz Carlton for their employee housing. In addition, operators can greatly improve returns by improving the sites for an estimated $400,000 and adding another 9 units for an estimated $700,000. Lake Tahoe is a beautiful vacation getaway with dozens of beaches spanning across two states, massive granite peaks, dozens of hiking trails, world-renown downhill and Nordic skiing, all types of snow sports, and 39 trillion gallons of water. Being a prime vacation destination and getaway, approximately 15 million people come to Lake Tahoe a year to enjoy the relaxing scenery and enjoy the various activities and communities. The investment appeal of this asset is driven by Kings Beach's strong vacation appeal and low vacancy levels. With a world-class location along North Lake Tahoe, 8345 Trout presents an attractive choice for renters due to close proximity to major transportation corridors, close proximity to the lake, and easy access to a myriad of shopping, dining, and entertainment options.

Exclusively Listed By

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